CGT: What you need to know

The Coalition Government’s Tax Working Group is recommending a broad extension of taxing Capital Gains. Here is what you need to know: The Group, chaired by Sir Michael Cullen, has recommended the following: Tax the Capital Gain on sale of land, shares, business assets, intangible assets such as intellectual property. Tax to be imposed when the asset is sold, and…

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Global Economic Growth appears gloomy for New Zealand CEOs

Venkat Raman Chief Executives in New Zealand have taken a pessimistic view of the global economic growth in 2019, with the number of ‘bulls’ declining this year, compared to 2018, according to the 2019 CEOs Survey of PricewaterhouseCoopers (PwC). The firms’ Chief Executive Mark Averill said that the outlook of CEOs is markedly different now to the expectations expressed around…

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Digital Services Tax on multinational companies coming

“More than $2.7 billion go untaxed” every year Supplied Content New Zealand is to consult on the design of changes to tax rules which currently allow multinational companies in the digital services field to do business here without paying income tax. Finance Minister Grant Robertson and Revenue Minister Stuart Nash said that Cabinet has agreed to issue a discussion document…

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ANZ heralds Lunar New Year with sublimity

Venkat Raman The country’s largest commercial bank ushered in the Lunar New Year with a large gathering of diverse communities last fortnight. More than 400 people attended ANZ Bank’s celebrations held at Pullman Hotel in Auckland on Friday, February 15, 2019 with Ethnic Communities Minister Jenny Salesa as the Chief Guest. Among the other dignitaries were diplomats, Labour MPs Michael…

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Regulating money in New Zealand Politics

Simon Chapple In the aftermath of the controversy surrounding former National MP Jami-Lee Ross and Opposition National Party Leader Simon Bridges, discussions have focused on possible reforms of political donations in New Zealand. My colleagues Bryce Edwards and Michael Macaulay have raised the issue of taxpayer funding of political parties. So too has Minister of Justice Andrew Little. Lowering threshold…

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No guarantee Hayne’s Report will discipline Australian banks

No guarantee Hayne’s Report will discipline Australian banks

Andrew Linden and Warren Staples Every 10 to 15 years, it is the same. Ever since the financial deregulation in the 1980s, we have had a finance industry scandal followed by an inquiry, a quick fix, and a declaration that it shouldn’t happen again. Scandal after Scandal In the early 1990s, there were Royal Commissions into the A$ 1.7 billion Tri-continental/ State…

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India-Taiwan bilateral trade surges

Christie Chen India’s top envoy to Taiwan touted the relationship between the two countries on Thursday at an event in Taipei to celebrate India’s 70th Republic Day. India-Taipei Association Director General Sridharan Madhusudhanan said that direct investment from Taiwan to India has increased tenfold in the last year. Major Taiwanese companies such as Foxconn, Delta Electronics Co, Wistron Corp and…

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