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2010 New Zealand Budget
The New Zealand budget for fiscal year 2010-2011 was presented to the New Zealand House of Representatives by Finance Minister Bill English on 20 May 2010. This was the second budget Bill English has presented as Minister of Finance. Outline Tax changes The main feature of the 2010 Budget was a tax package that lowered income taxes, reduced the company tax rate to 28%, and raised GST to 15%. There were increases to Superannuation, Working for Families and Benefits to compensate for the GST increase. New income tax rates from 2010 are: Depreciation on buildings with a life exceeding 50 years was removed, resulting in an increase of tax paid on property, and Loss Attributing Qualifying Companies were abolished and replaced with Look-through company, subject to much tighter rules. The 2010 Budget included new spending of $1.8 billion in health, education, research and broadband rollout. The Budget forecast a return to fiscal surplus in 2016. References {{DEFAULTSORT:20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill English
Sir Simon William English (born 30 December 1961) is a New Zealand former National Party politician who served as the 39th prime minister of New Zealand from 2016 to 2017 and as the 17th deputy prime minister of New Zealand and minister of finance from 2008 to 2016 under John Key and the Fifth National Government. A farmer and public servant before entering politics, English was elected to the New Zealand Parliament in as the National Party's candidate in the Wallace electorate. He was elevated to Cabinet in 1996 and in 1999 was made minister of finance, although he served for less than a year due to his party's loss at the 1999 general election. In October 2001, English replaced Jenny Shipley as the leader of the National Party (and consequently as Leader of the Opposition). He led the party to its worst defeat at the 2002 general election, and as a consequence, in October 2003 he was replaced as leader by Don Brash. In November 2006, after Brash's resignation, Engli ... [...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] |
New Zealand National Party
The New Zealand National Party ( mi, Rōpū Nāhinara o Aotearoa), shortened to National () or the Nats, is a centre-right political party in New Zealand. It is one of two major parties that dominate contemporary New Zealand politics, alongside its traditional rival, the New Zealand Labour Party, Labour Party. National formed in 1936 through amalgamation of conservative and Liberalism, liberal parties, Reform Party (New Zealand), Reform and United Party (New Zealand), United respectively, and subsequently became New Zealand's second-oldest extant political party. National's predecessors had previously formed United–Reform Coalition, a coalition against the growing labour movement. National has governed for five periods during the 20th and 21st centuries, and has spent more List of government formations of New Zealand, time in government than any other New Zealand party. After the 1949 New Zealand general election, 1949 general election, Sidney Holland became the first Prime M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Treasury
The New Zealand Treasury ( mi, Te Tai Ōhanga) is the central public service department of New Zealand charged with advising the Government on economic policy, assisting with improving the performance of New Zealand's economy, and managing financial resources. The Minister responsible for the Treasury is the Minister of Finance of New Zealand; however, from 1996 to 2002, there existed a more specific position of Treasurer of New Zealand. The role was created for Winston Peters by the Fourth National Government under Jim Bolger after the 1996 election, and abolished by Helen Clark’s government in 2002. Treasury has four main functions: * Provide advice to improve economic and fiscal conditions for high levels of economic growth and improved living standards. * Monitor and manage the financial affairs of the Crown. * Assess and test other Government agencies’ advice and proposals that have economic and financial implications. * Provide leadership, with other central agencie ... [...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] |
Finance Minister (New Zealand)
The minister of Finance, originally known as colonial treasurer, is a minister and the head of the New Zealand Treasury, responsible for producing an annual New Zealand budget outlining the government's proposed expenditure. The position is often considered to be the most important cabinet post after that of the prime minister. The current Minister of Finance is Grant Robertson. There are also three associate minister roles; they are currently held by David Parker, Megan Woods, and Kiri Allan. Responsibilities and powers One of the Minister of Finance's key roles involves the framing of the annual year budget. According to Parliament's Standing Orders, the Minister of Finance may veto any parliamentary bill which would have a significant impact on the government's budget plans. The Minister of Finance supervises the Treasury, which is the government's primary advisor on matters of economic and financial policy. As such, the Minister of Finance has broad control of the gov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Beehive (building)
The Beehive ( mi, Te Whare Mīere) is the common name for the Executive Wing of New Zealand Parliament Buildings, located at the corner of Molesworth Street and Lambton Quay, Wellington. It is so-called because its shape is reminiscent of that of a traditional woven form of beehive known as a "skep". It is registered as a Category I heritage building by Heritage New Zealand. Construction began in 1969 and was completed in 1981. Since 1979, the building has housed the offices of government ministers. Thus, the name "Beehive" is closely linked with the New Zealand Government. It is often used as a metonym for the New Zealand leadership at large, with "the 9th floor" specifically referring to the office of the prime minister, which is based on that floor. Cabinet meets on the top floor. History In the 1960s the government proposed an extension of Parliament House, which had only been partly built in 1922. Prime Minister Keith Holyoake had wanted to complete the original plan, b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inland Revenue Department (New Zealand)
Inland Revenue or Inland Revenue Department (IRD; mi, Te Tari Taake) is the public service department of New Zealand charged with advising the government on tax policy, collecting and disbursing payments for social support programmes, and collecting tax. Inland Revenue's Māori name is an older spelling of ''Te Tari Tāke'', meaning 'The Department fTax'. Despite long vowels in Māori now being expressed with macrons over the vowel rather than double vowels, the department continues to use the double vowel due to the resemblance of the word ''tāke'' to the English word ''take''. History Inland Revenue started out as the Land Tax Department in 1878. The department was renamed the Land and Income Tax Department in 1892 with the central office set up in Wellington. Only in 1952, when the organisation joined with the Stamp Duties Department, was the organisation known as the Inland Revenue Department. In 1995, a Rewrite Advisory Panel was established to consider and advise ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loss Attributing Qualifying Company
A Loss Attributing Qualifying Company (LAQC) was a type of company which, by New Zealand law, passed on any losses to its shareholders. The shareholders could then offset these losses against their personal income for tax purposes. Following the 2010 New Zealand budget, legislation passed was December 2010 that made changes to the rules for qualifying companies (QCs) and loss attributing qualifying companies (LAQCs). LAQCs were not able to attribute losses to shareholders for income years starting on or after 1 April 2011 and there are no new QC or LAQC elections. Existing LAQCs automatically became QCs (without the ability to attribute losses) at the start of the income year starting 1 April 2011. They may elect either to remain a QC or can transition into a Look-through company (LTC) at no tax cost in certain circumstances or can also transition into another tax entity, such as a partnership, limited partnership A limited partnership (LP) is a form of partnership similar t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Look-through Company
A Look-Through Company (LTC) is a kind of tax structure for New Zealand companies with limited liability, which allows the company in question to transfer its income and expenditure to its shareholders directly. The LTC has replaced the previously popular Loss Attributing Qualifying Company and will be a simpler alternative to Limited Partnership; however, this new structure differs in a number of key areas. Introduction In May 2010, as part of the 2010 New Zealand budget, Loss Attributing Qualifying Companies (LAQCs) were abolished. LAQCs had been popular among property investors. Community Investors anxiously awaited the appearance of any alternative. In December 2010, new legislation was introduced which approved a new type of companies—or rather, a new kind of taxation structure for companies in the vein of the old LAQCs. These were to be called Look-Through Companies. The draft law was published yet on 15 October 2010, and successfully passed one and a half months later. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2010 In New Zealand
The following lists events that happened during 2010 in New Zealand. Population * Estimated population as of 31 December: 4,373,900 * Increase since 31 December 2009: 41,700 (0.96%) * Males per 100 Females: 95.7 Incumbents Regal and vice-regal *Head of State – Elizabeth II * Governor-General – Sir Anand Satyanand File:Queen Elizabeth II of New Zealand.jpg, Elizabeth II File:Anand Satyanand 2010 (cropped).jpg, Sir Anand Satyanand Government 2010 was the second full year of the 49th Parliament. *Speaker of the House – Lockwood Smith *Prime Minister – John Key *Deputy Prime Minister – Bill English *Minister of Finance – Bill English *Minister of Foreign Affairs – Murray McCully File:Lockwood Smith (cropped).jpg, Lockwood Smith File:John Key National Party3.jpg, John Key File:Bill English 09-16 (1).jpg, Bill English File:Murray McCully Estonia 2010 (cropped).jpg, Murray McCully Other party leaders *Labour – Phil Goff ( Leader of the Opposition) * Act – Rodn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Budgets
New is an adjective referring to something recently made, discovered, or created. New or NEW may refer to: Music * New, singer of K-pop group The Boyz Albums and EPs * ''New'' (album), by Paul McCartney, 2013 * ''New'' (EP), by Regurgitator, 1995 Songs * "New" (Daya song), 2017 * "New" (Paul McCartney song), 2013 * "New" (No Doubt song), 1999 *"new", by Loona from '' Yves'', 2017 *"The New", by Interpol from ''Turn On the Bright Lights'', 2002 Acronyms * Net economic welfare, a proposed macroeconomic indicator * Net explosive weight, also known as net explosive quantity * Network of enlightened Women, a conservative university women's organization * Next Entertainment World, a South Korean film distribution company Identification codes * Nepal Bhasa language ISO 639 language code * New Century Financial Corporation (NYSE stock abbreviation) * Northeast Wrestling, a professional wrestling promotion in the northeastern United States Transport * New Orleans Lakefront Ai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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