BusinessNZ calls caution on banking proposals BusinessNZ calls caution on banking proposals BusinessNZ is calling for caution on banking proposals that would increase mortgage costs. The Reserve Bank is proposing that New Zealand banks should be required to reduce the risk of bank failure to a one-in-200-year event. The proposals...

CGT decision strengthens confidence in tax system BusinessNZ has congratulated the Government for its decision not to proceed with a capital gains tax. Chief Executive Kirk Hope said the proposed tax would have hit businesses hard, reducing funds available for investment and job growth and increasing their compliance burden. “Our...

Voter concerns over capital gains tax A Reid Research poll commissioned by BusinessNZ has found significant voter concerns about a capital gains tax. The poll, conducted in mid-March, asked whether respondents supported a capital gains tax on property, business assets, shares and KiwiSaver. CGT on property and business assets: A...

$5 billion additional costs from capital gains tax BusinessNZ has released an analysis of additional costs to the economy that would accompany the direct costs of New Zealand’s proposed capital gains tax. It shows compliance costs of $1.6 billion, administrative costs of $210 million and deadweight costs of $1.5 –...

Engagement with business Greater integration with the world economy will reap dividends for New Zealand business, the Prime Minister told business leaders today. Addressing the BusinessNZ economic update meeting in Auckland this morning, Prime Minister Jacinda Ardern said the EU and UK were signalling potentially speedy conclusions to free trade...

Survey shows room for improvement in the way NZ taxes business Survey shows room for improvement in the way New Zealandtaxes business BusinessNZ-Deloitte Major Companies Tax Survey reportidentifies ten measures for a world class tax system While New Zealand’stax system is generally considered to be in good shape, a survey...

Electronic filing for compliance reduction BusinessNZ welcomes the work being done to enable businesses to move from paper to electronic filing of PAYE. The Government has announced will introduce legislation next year to require electronic filing in 2019.Employers above a certain tax threshold would be required to file electronically, unless...