Accounting and tax news round up

www.NetProphet.co.nz

Friday 18th December 2009

Specialist accountancy website Netprophet.co.nz reports this on the released Capital Markets Development (CMD) Taskforce recommendations which look to improve the functioning of New Zealand's capital markets.

NetProphet reporter Rob Hosking zeroes in on why the CMD Task Force has come out firmly in favour of keeping New Zealand's imputation tax regime and how it suggests company tax could be dropped without any fiscal cost.

Westpac also predicts that proposed tax changes could lower house prices by as much as 34%, raise rents and increase the rate of home ownership.

We talk to David Boyle from ING about becoming the first KiwiSaver provider to hit the $1 billion mark in funds under management and a feature article looks at Russell Investments' latest quarterly survey which shows domestic and international equities remain in favour with New Zealand investment managers in the lead up to the festive season.

In other news improved automation at taxrefunds.co.nz results in a redundancy proposal for 89 staff to be pushed out just two days before Christmas and the Minister of Revenue Peter Dunne announces that for the first time there will be no increase on the student loan repayment threshold. NetProphet gets reaction from the students association.

For those accountants wanting to keep up-to-date with land transactions and trusts there is also a new resource. CCH has put out the fourth edition of its book "A Practical Guide to Taxing Property Transactions" and a series of DVDs covering the issues.

You can keep up-to-date with accounting news on Twitter. Follow us on http://www.twitter.com/netprophets

Tax crucial to capital markets reform

The Capital Markets Development Taskforce released its recommendations to improve the functioning of New Zealand's capital markets today. >>Read more

Keep the imputation regime: Task Force

The Capital Markets Development Task Force has come out firmly in favour of keeping New Zealand's imputation tax regime. >>Read more

No Christmas cheer for Tax Refunds

Improved automation at taxrefunds.co.nz could push out 89 staff just two days before Christmas. >>Read more

No increase on the student loan repayment threshold

For the first time the income threshold for New Zealand-based borrowers repaying their student loans has not increased and it remains at $19,084 for the 2010-11 tax year. >>Read more

ING reaches $1 billion mark with KiwiSaver

ING head of KiwiSaver distribution David Boyle says the number of New Zealander's that have joined KiwiSaver is much greater than was expected when KiwiSaver was first launched in 2007. >> Read more

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