The OECD has endorsed New Zealand’s crackdown on multi-national tax evasion, despite significant criticism from local businesses that it departs from OECD standards, Thomas Coughlan reports.
Tax hikes imposed or announced under the Labour Government have hurt the poorest the most, and it is planning more regressive taxes in the years to come, Thomas Coughlan reports.
The government says political considerations about New Zealand's relationship with China aren't the reason why it chose not to tax Chinese steel imports, as local steel producer New Zealand Steel attempts to have that decision overturned in the High Court.
Treasury reported the Government's surplus was $910 million better than expected in the nine months to March 2018, largely because solid economic growth drove higher corporate tax receipts, higher income taxes and higher GST receipts. Treasury said tax revenues were $1.1 billion better than it forecast in December and this was expected to hold for the rest of the financial year.
Online retailers will soon have to collect GST for sales to New Zealanders, but a sizeable chunk of them are expected to opt out, Thomas Coughlan reports
Finance Minister Grant Robertson said this morning that the Government had found an extra $1.4 billion over the next four years from cost savings and extra tax revenues to help it fund its plans.
Prime Minister Jacinda Ardern has issued a stark warning ahead of the May 17 Budget, saying the Government had discovered the budget situations in Health and Education were much worse than she expected when in Opposition.
Newsroom technology columnist Richard MacManus looks behind the IRD's guidance on cryptocurrencies. He finds confirmation that trading profits can be taxed, but vagueness remains on ICOs, utility tokens and whether to pay GST.
In this morning's email we watch as Jacinda Ardern and her transport ministers begin to thread their way through a political minefield.
Property ownership and voter turnout tend to go in tandem. Thomas Coughlan harks back to a time when renters weren't allowed to vote and wonders why renters are so cavalier about voting now.