Information Archives: Accounting

Interest calculation error for some New Zealand nonresident companies

Posted 32 days ago by Editor

Because of the New Zealand Inland Revenue Department system miscalculation, all non-resident contractor companies, non-resident  entertainer companies and agents for foreign  insurers with balance dates between October and  February will have incorrect use-of-money interest  (UOMI) calculations. End-of-year tax for a …

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History of Gift Duties in New Zealand

Posted 35 days ago by Editor

Gift duty was originally instated in 1885 as a method of discouraging taxpayers from making excessive gifts of property as a method of avoiding estate duties. On October 1st 2011 gift duties were abolished from the New Zealand tax system, …

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2012 INCSR: Major Money Laundering Countries

Posted 67 days ago by Editor

According to US State Department, every year, U.S. officials from agencies with anti-money laundering responsibilities meet to assess the money laundering situations in 200 jurisdictions. The review includes an assessment of the significance of financial transactions in the country’s financial …

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Minimum wage in New Zealand increased to NZ$13.50

Posted 99 days ago by Editor

The Government of New Zealand will increase the minimum wage from NZ$13 to NZ$13.50 an hour, and the minimum wages for training and new entrants will increase from NZ$10.40 to NZ$10.80 (or 80% of the adult minimum wage in New …

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Supplementary order paper to the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Bill

Posted 100 days ago by Editor

The Minister of Revenue Hon Peter Dunne released a supplementary order paper to the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Bill, which is currently before the Finance and Expenditure Select Committee. 

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