New Zealand Tax News





New Zealand GST of Bodies Corporate

June 2013
The New Zealand inland revenue released on May 8 an issues paper regarding the GST treatment of bodies corporate carrying taxable activities and making supplies to a number of services.
People can submit their views regarding the issue paper by June 18, 2013.
More info: www.ird.govt.nz.

New Zealand New 15% GST

November 2010
The New Zealand Goods and Services tax, GST, increased from 12.5% to 15% effective October 1, 2010.

New Zealand Budget Updates

May 2010
The finance minister presented on 20/5/2010 the second budget which includes significant tax changes.
According to the budget the GST, goods and services tax, will increase from the current 12.5% to 15%, starting October 1, 2010.
From that date personal income tax rates will be reduced to 10.5%-33%, compared to the current 12.5%-38% tax rates.
The corporate income tax rate will also be reduced in the tax year 2011-2012 from 30% to 28%.
More info: www.treasury.govt.nz/budget/2010



U.S. and New Zealand Tax Treaty

December 2008
The U.S and New Zealand signed on December 1, 2008 a new protocol updating the tax current tax treaty between the two countries.
The protocol relates, inter-alia, to excluding U.S. social security and unemployment taxes from the "taxes covered" article 2 of the treaty.
The new tax withholding rate for royalties between the two countries will be reduced from 10% to 5%.
The protocol will enter into force after ratification by both countries.
For more details please see www.ustreas.gov

Nea Zealand Budget 2007/8


May 2007
According to New Zealand's budget for the year 2007/8 there are some significant changes.
The corporate income tax rate would be reduced from 33% to 30%.
A new 15% tax credit will be given to R&D projects, starting 2008/9.
Regarding the saving scheme KiwiSaver, a compulsory contribution will be imposed on employers, from 1% in 2008 to 4% in 2011.
At present the 2007 corporate tax rate in New Zealand is 33%.Individual's income tax rates are 19.5%-39%.
Capital gains are generally tax exempt.
The standard GST, goods and services tax, is 12.5%. The annual turnover for GST registration is NZD 40,000.



Albania Tax updates and news | Argentina Tax updates and news | Armenia Tax updates and news | Australia Tax updates and news | Austria Tax updates and news | Azerbaijan Tax updates and news | Bahamas Tax updates and news | Bahrain Tax updates and news | Barbados Tax updates and news | Belarus Tax updates and news | Belgium Tax updates and news | Bermuda Tax updates and news | Brazil Tax updates and news | Bulgaria Tax updates and news | Canada Tax updates and news | Chile Tax updates and news | China Tax updates and news | Colombia Tax updates and news | Croatia Tax updates and news | Cyprus Tax updates and news | Czech Republic Tax updates and news | Denmark Tax updates and news | Egypt Tax updates and news | Estonia Tax updates and news | Ethiopia Tax updates and news | EU Tax updates and news | Finland Tax updates and news | France Tax updates and news | Georgia Tax updates and news | Germany Tax updates and news | Gibraltar Tax updates and news | Greece Tax updates and news | Guernsey Tax updates and news | Hong Kong Tax updates and news | Hungary Tax updates and news | Iceland Tax updates and news | India Tax updates and news | Indonesia Tax updates and news | Ireland Tax updates and news | Isle of Man Tax updates and news | Israel Tax updates and news | Italy Tax updates and news | Jamaica Tax updates and news | Japan Tax updates and news | Jersey Tax updates and news | Kazakhstan Tax updates and news | Kuwait Tax updates and news | Latvia Tax updates and news | Lithuania Tax updates and news | Luxembourg Tax updates and news | Malaysia Tax updates and news | Malta Tax updates and news | Mexico Tax updates and news | Moldova Tax updates and news | Montenegro Tax updates and news | Morocco Tax updates and news | Netherlands Tax updates and news | New Zealand Tax updates and news | Nigeria Tax updates and news | Norway Tax updates and news | Oman Tax updates and news | Panama Tax updates and news | Peru Tax updates and news | Poland Tax updates and news | Portugal Tax updates and news | Qatar Tax updates and news | Romania Tax updates and news | Russia Tax updates and news | Saudi Arabia Tax updates and news | Serbia Tax updates and news | Singapore Tax updates and news | Slovakia Tax updates and news | Slovenia Tax updates and news | South Africa Tax updates and news | South Korea Tax updates and news | Spain Tax updates and news | St. Lucia Tax updates and news | Sweden Tax updates and news | Switzerland Tax updates and news | Taiwan Tax updates and news | Tajikistan Tax updates and news | Thailand Tax updates and news | Tunisia Tax updates and news | Turkey Tax updates and news | UAE Tax updates and news | U.K. Tax updates and news | Ukraine Tax updates and news | U.S. Tax updates and news | Uzbekistan Tax updates and news | Vietnam Tax updates and news