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Taxation In New Zealand
Taxes in New Zealand are collected at a national level by the Inland Revenue Department (IRD) on behalf of the New Zealand Government. 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 t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Tax Revenue 2013-14
New or NEW may refer to: Music * New, singer of K-pop group The Boyz * ''New'' (album), by Paul McCartney, 2013 ** "New" (Paul McCartney song), 2013 * ''New'' (EP), by Regurgitator, 1995 * "New" (Daya song), 2017 * "New" (No Doubt song), 1999 * "new", a song by Loona from the 2017 single album '' Yves'' * "The New", a song by Interpol from the 2002 album ''Turn On the Bright Lights'' Transportation * Lakefront Airport, New Orleans, U.S., IATA airport code NEW * Newcraighall railway station, Scotland, station code NEW Other uses * ''New'' (film), a 2004 Tamil movie * New (surname), an English family name * NEW (TV station), in Australia * new and delete (C++), in the computer programming language * Net economic welfare, a proposed macroeconomic indicator * Net explosive weight, also known as net explosive quantity * Network of enlightened Women, an American organization * Newar language, ISO 639-2/3 language code new * Next Entertainment World, a South Korean media company ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inheritance Tax
International tax law distinguishes between an estate tax and an inheritance tax. An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. However, this distinction is not always observed; for example, the UK's "inheritance tax" is a tax on the assets of the deceased, and strictly speaking is therefore an estate tax. Inheritance taxes vary widely between countries. History There was a steep increase in the number of countries that implemented inheritance taxes throughout the 19th and early 20th century. From 1960 onwards, inheritance taxes declined in prevalence as numerous countries repealed theirs. For historical reasons, the term "death duty" is still used colloquially (though not legally) in the UK and some Commonwealth countries. The estate tax in the United States is sometimes referred as "death tax". Other taxation applied to inherita ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PAYE
A pay-as-you-earn tax (PAYE), or pay-as-you-go (PAYG) is a withholding of taxes on income payments to employees. Amounts withheld are treated as advance payments of income tax due. They are refundable to the extent they exceed tax as determined on tax returns. PAYE may include withholding the employee portion of insurance contributions or similar social benefit taxes. In most countries, they are determined by employers but subject to government review. PAYE is deducted from each paycheck by the employer and must be remitted promptly to the government. Most countries refer to income tax withholding by other terms, including pay-as-you-go tax. United Kingdom Origins Devised by Sir Paul Chambers, PAYE was introduced into the UK in 1944, following trials in 1940–1941. As with many of the United Kingdom's institutional arrangements, the way in which the state collects income tax through PAYE owes much of its form and structure to the peculiarities of the era in which it was devi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dividends
A dividend is a distribution of profits by a corporation to its shareholders, after which the stock exchange decreases the price of the stock by the dividend to remove volatility. The market has no control over the stock price on open on the ex-dividend date, though more often than not it may open higher. When a corporation earns a profit or surplus, it is able to pay a portion of the profit as a dividend to shareholders. Any amount not distributed is taken to be re-invested in the business (called retained earnings). The current year profit as well as the retained earnings of previous years are available for distribution; a corporation is usually prohibited from paying a dividend out of its capital. Distribution to shareholders may be in cash (usually by bank transfer) or, if the corporation has a dividend reinvestment plan, the amount can be paid by the issue of further shares or by share repurchase. In some cases, the distribution may be of assets. The dividend received by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest
In finance and economics, interest is payment from a debtor or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay to the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit (economics), profit or Reserve (accounting), reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to debt, borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Self-employment
Self-employment is the state of working for oneself rather than an employer. Tax authorities will generally view a person as self-employed if the person chooses to be recognised as such or if the person is generating income for which a tax return needs to be filed. In the real world, the critical issue for tax authorities is not whether a person is engaged in business activity (called ''trading'' even when referring to the provision of a service) but whether the activity is profitable and therefore potentially taxable. In other words, the trading is likely to be ignored if there is no profit, so occasional and hobby- or enthusiast-based economic activity is generally ignored by tax authorities. Self-employed people are usually classified as a sole proprietor (or sole trader), independent contractor, or as a member of a partnership. Self-employed people generally find their own work rather than being provided with work by an employer and instead earn income from a profession, a tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Key
Sir John Phillip Key (born 9 August 1961) is a New Zealand retired politician who served as the 38th prime minister of New Zealand from 2008 to 2016 and as leader of the National Party from 2006 to 2016. Following his father's death when he was eight, Key was raised by his single mother in a state-house in the Christchurch suburb of Bryndwr. He attended the University of Canterbury and graduated in 1981 with a Bachelor of Commerce. He began a career in the foreign exchange market in New Zealand before moving overseas to work for Merrill Lynch, in which he became head of global foreign exchange in 1995, a position he would hold for six years. In 1999 he was appointed a member of the Foreign Exchange Committee of the Federal Reserve Bank of New York until leaving in 2001. Key entered the New Zealand Parliament representing the Auckland electorate of Helensville as one of the few new National members of parliament in the election of 2002 following National's significant de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fifth Labour Government Of New Zealand
The Fifth Labour Government of New Zealand was the List of New Zealand governments, government of New Zealand from 10 December 1999 to 19 November 2008. New Zealand Labour Party, Labour Party leader Helen Clark negotiated a coalition with Jim Anderton, leader of the Alliance (New Zealand political party), Alliance Party. Overview The previous government, the Fourth National Government of New Zealand, fourth National government, had been in power since 1990. It was widely unpopular by 1999, with much of the public antagonised by a series of free-market economic reforms, and was bedevilled by weakness and instability. In the 1999 general election, the Helen Clark-led New Zealand Labour Party, Labour Party defeated the National Party easily, becoming the largest single party in the New Zealand House of Representatives, House of Representatives. Labour formed a minority government, minority coalition government with the left-leaning Alliance (New Zealand political party), Alliance ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roger Douglas
Sir Roger Owen Douglas (born 5 December 1937) is a retired New Zealand politician, economist and accountant who served as a minister in two Labour governments. He is most recognised for his key involvement in New Zealand's radical economic restructuring in the 1980s, when the Fourth Labour Government's economic policy became known as " Rogernomics", which implemented neoliberal economic policies. Douglas served as a Labour Member of Parliament from 1969 to 1990. During his time as Minister of Finance (1984 to 1988), the government floated the New Zealand dollar, introduced corporate practices to state services, sold off state assets, and removed a swathe of regulations and subsidies. Some Labour Party supporters regarded Douglas's economic policies as a betrayal of Labour's left-wing policy-platform, and the moves became deeply unpopular with the public and with ordinary party members. His supporters defended the reforms as necessary to revive the economy, which had been tight ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Lange
David Russell Lange ( ; 4 August 1942 – 13 August 2005) was a New Zealand politician who served as the 32nd prime minister of New Zealand from 1984 to 1989. A member of the New Zealand Labour Party, Lange was also the Minister of Education (New Zealand), minister of Education and the Minister of Foreign Affairs (New Zealand), minister of Foreign Affairs alongside his term as prime minister. He was also the Attorney-General (New Zealand), attorney-general of New Zealand from 1989 to 1990. Lange was born and brought up in Ōtāhuhu, the son of a physician. He became a lawyer, and represented poor and struggling people in Civil and political rights, civil rights causes in the rapidly changing Auckland of the 1970s. After serving as legal advisor to the Polynesian Panthers, Lange was first elected to the New Zealand Parliament in the 1977 Mangere by-election, Mangere by-election of 1977. He became a prominent debater within parliament, and soon gained a reputation for cutting wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fourth Labour Government Of New Zealand
The Fourth Labour Government of New Zealand governed New Zealand from 26 July 1984 to 2 November 1990 (the period up to 8 August 1989 is also called the Lange Government). It was the first Labour government to win a second consecutive term since the First Labour Government of 1935 to 1949. The policy agenda of the Fourth Labour Government differed significantly from that of previous Labour governments: it enacted major social reforms (such as legalising homosexual relations) and economic reforms (including corporatisation of state services and reform of the tax system). The economic reforms became known as " Rogernomics", after Finance Minister Roger Douglas. According to one political scientist: The Labour government also enacted nuclear-free legislation, which led to the United States suspending its treaty obligations to New Zealand under the ANZUS alliance. David Lange led the government for most of its two three-year terms in office. Lange and Douglas had a fallin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scoop (website)
Scoop, a New Zealand Internet news site, is operated by Scoop Publishing Limited, a company owned by a non-profit charitable trust dedicated to public-interest journalism. Operational model The website publishes many submitted news and press releases due to their permissive policy. Their website states: "If it's a press release issued in New Zealand, is legible, legal, sane, not hateful and not defamatory we will most probably publish it." In addition to being a general news website, Scoop also contains sub-sites with specific fociWellington.scoop which aggregates Wellington-specific news with editorial comment, and alsPacific.scoopwhich publishes Pacific-related news and is edited by Auckland University of Technology's Pacific Media Centre. As of March 2012, the website claimed to receive 246,500 visitors and 614,500 page impressions per month. Scoop was ranked 3rd by Nielsen Net Ratings in their News Category. History It was established in 1999 by Andrew McNaughton, Ian Ll ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
