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Local Government (Rating) Act 2002
The Local Government (Rating) Act 2002 of New Zealand is an Act of New Zealand's Parliament that empowers Local Government bodies to levy property taxes on property owners within their jurisdictions. These property taxes are called rates. They are assessed annually and usually paid in four equal instalments. Introduction New Zealand no longer has land taxes per se. Formerly, NZ did have land taxes—its first ever direct tax, enacted in 1878, was a land tax (levied at a rate of one halfpenny per pound of unimproved land value). But the contribution of land taxes to the government steadily reduced and by 1967 represented a mere 0.5% of total government revenues. In 1982 it was observed that only 5% of all land was taxed (the rest was exempted under one of an increasing list of exemptions), and so in 1990, land tax was repealed. Instead, it has property taxes related to land. This might seem like a distinction in search of a meaning, and in simplest terms a property tax is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Parliament
The New Zealand Parliament ( mi, Pāremata Aotearoa) is the unicameral legislature of New Zealand, consisting of the King of New Zealand ( King-in-Parliament) and the New Zealand House of Representatives. The King is usually represented by his governor-general. Before 1951, there was an upper chamber, the New Zealand Legislative Council. The New Zealand Parliament was established in 1854 and is one of the oldest continuously functioning legislatures in the world. It has met in Wellington, the capital of New Zealand, since 1865. The House of Representatives normally consists of 120 members of Parliament (MPs), though sometimes more due to overhang seats. There are 72 MPs elected directly in electorates while the remainder of seats are assigned to list MPs based on each party's share of the total party vote. Māori were represented in Parliament from 1867, and in 1893 women gained the vote. Although elections can be called early, each three years Parliament is dissolved and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand
New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island country by area, covering . New Zealand is about east of Australia across the Tasman Sea and south of the islands of New Caledonia, Fiji, and Tonga. The country's varied topography and sharp mountain peaks, including the Southern Alps, owe much to tectonic uplift and volcanic eruptions. New Zealand's capital city is Wellington, and its most populous city is Auckland. The islands of New Zealand were the last large habitable land to be settled by humans. Between about 1280 and 1350, Polynesians began to settle in the islands and then developed a distinctive Māori culture. In 1642, the Dutch explorer Abel Tasman became the first European to sight and record New Zealand. In 1840, representatives of the United Kingdom and Māori chiefs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of New Zealand
The New Zealand Parliament ( mi, Pāremata Aotearoa) is the unicameral legislature of New Zealand, consisting of the King of New Zealand (King-in-Parliament) and the New Zealand House of Representatives. The King is usually represented by his governor-general. Before 1951, there was an upper chamber, the New Zealand Legislative Council. The New Zealand Parliament was established in 1854 and is one of the oldest continuously functioning legislatures in the world. It has met in Wellington, the capital of New Zealand, since 1865. The House of Representatives normally consists of 120 members of Parliament (MPs), though sometimes more due to overhang seats. There are 72 MPs elected directly in electorates while the remainder of seats are assigned to list MPs based on each party's share of the total party vote. Māori were represented in Parliament from 1867, and in 1893 women gained the vote. Although elections can be called early, each three years Parliament is dissolved and go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In New Zealand
Taxes in New Zealand are collected at a national level by the Inland Revenue Department (IRD) on behalf of the Government of New Zealand. National taxes are levied on personal and business income, and on the supply of goods and services. Capital gains tax applies in limited situations, such as the sale of some rental properties within 10 years of purchase. Some "gains" such as profits on the sale of patent rights are deemed to be income – income tax does apply to property transactions in certain circumstances, particularly speculation. There are currently no land taxes, but local property taxes (rates) are managed and collected by local authorities. Some goods and services carry a specific tax, referred to as an excise or a duty, such as alcohol excise or gaming duty. These are collected by a range of government agencies such as the New Zealand Customs Service. There is no social security (payroll) tax. New Zealand went through a major program of tax reform in the 1980s. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Government Act 2002
The Local Government Act 2002 (sometimes known by its acronym, LGA) is an Act of New Zealand's Parliament that defines local government in New Zealand. There are 73 territorial authorities (local districts), each with an elected Mayor and elected Councillors. The districts are grouped under 12 regional authorities. History Local government in New Zealand derives its powers from statute rather than from any constitutional authority, there being no formal written constitution. Its origins can be found in the Municipal Corporations Act (1876), and it was built on the principle of ''ultra vires'' and that local government (the same as companies) can only do those things it is specifically authorised to do, and can not do anything it is not authorised to do. This requirement to have specific legislative authorisation resulted in a hodge podge of amendments to the local government legislation. For example, one of the former Local Government Act 1974's highly prescriptive provisions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regressive Tax
A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. "Regressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from high to low, so that the average tax rate exceeds the marginal tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA In terms of individual income and wealth, a regressive tax imposes a greater burden (relative to resources) on the poor than on the rich: there is an inverse relationship between the tax rate and the taxpayer's ability to pay, as measured by assets, consumption, or income. These taxes tend to reduce the tax burden of the people with a higher ability to pay, as they shift the relative burden increasingly to those with a lower ability to pay. The regressivity ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rating Valuations Act (1998)
A rating is an evaluation or assessment of something, in terms of quality, quantity, or some combination of both. Rating or ratings may also refer to: Business and economics * Credit rating, estimating the credit worthiness of an individual, corporation or country * Ranally city rating system, a tool used to classify U.S. cities based on economic function * Telecommunications rating, the calculated cost of a phone call Entertainment * Arbitron ratings or Nielsen Audio, consumer research on radio broadcasting audiences in the United States * Content rating, the suitability of a TV broadcast, movie, comic book, or video game to its audience ** Motion picture rating system, categorizes films according to their suitability for adults and children ** Television content rating systems, categorizes TV shows based on suitability for audiences ** Video game content rating system, categorizes video games based on suitability for players * Nielsen ratings, measuring viewership of U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rates Rebate Act (1973)
Rate or rates may refer to: Finance * Rates (tax), a type of taxation system in the United Kingdom used to fund local government * Exchange rate, rate at which one currency will be exchanged for another Mathematics and science * Rate (mathematics), a specific kind of ratio, in which two measurements are related to each other (often with respect to time) * Rate function, a function used to quantify the probabilities of a rare event * Reaction rate, in chemistry the speed at which reactants are converted into products Military * Naval rate, a junior enlisted member of a navy * Rating system of the Royal Navy, a former method of indicating a British warship's firepower People * Ed Rate (1899–1990), American football player * José Carlos Rates (1879–1945), General Secretary of the Portuguese Communist Party * Peter of Rates (died 60 AD), traditionally considered to be the first bishop of Braga Other uses * Rate (building), the class of a building in late Georgian and early ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of New Zealand
, background_color = #012169 , image = New Zealand Government wordmark.svg , image_size=250px , date_established = , country = New Zealand , leader_title = Prime Minister Jacinda Ardern , appointed = Governor-General , main_organ = , ministries = 32 ministries and departments , responsible = House of Representatives , budget = 119.3 billion (2018–19) , address = The Beehive and other locations across Wellington , url = The New Zealand Government ( mi, Te Kāwanatanga o Aotearoa) is the central government through which political authority is exercised in New Zealand. As in most other parliamentary democracies, the term "Government" refers chiefly to the executive branch, and more specifically to the collective ministry directing the executive. Based on the principle of responsible government, it operates within the framework that "the Queen reigns, but the government rules, so long as it has the support of the House of Representatives".Sir Kenneth Keith, qu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Government In New Zealand
New Zealand has a unitary system of government in which the authority of the central government defines sub-national entities. Local government in New Zealand has only the powers conferred upon it by the New Zealand Parliament. In general, local authorities are responsible for enabling democratic local decision-making and promoting the social, economic, environmental, and cultural well-being of their communities, as well as more specific functions for which they have delegated authority. , seventy-eight local authorities cover all areas of New Zealand. Local authorities are positioned within a two-tier structure of territorial authorities (district and city councils) and superimposed regional councils. In addition, district health boards are locally-elected bodies with responsibilities for oversight of health and disability services within a specified area, although these boards are not generally considered to be local authorities in the conventional sense. History The mode ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
