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Revenue Minister Peter Dunne has welcomed the enactment of tax reforms introduced in the Taxation (GST and Remedial Matters) Bill, saying they were a significant step towards increasing fairness and consistency across the tax system.

The new rules in the legislation enacted this week close off a loophole in the GST rules where some GST-registered purchasers have claimed a GST refund without the corresponding payment having been made because the supplier in the transaction has been deliberately wound up to avoid making the GST payment.

Revenue Minister Peter Dunne today welcomed recommendations by the Cultural Philanthropy Taskforce endorsing recent changes to the tax rules to encourage New Zealanders to give more generously to philanthropic causes.

“New Zealanders are generous in giving money and time to support the work of charitable and philanthropic causes in our communities.

Revenue Minister Peter Dunne says initiatives starting next year will cut business compliance costs and make it easier for New Zealanders to manage tax.

“Businesses can see tax as a complicated process involving a lot of paperwork,” said Mr Dunne.

Changes announced today will clarify Inland Revenue has the power to recall a student loan in cases of serious non-compliance.

The changes are contained in a Supplementary Order Paper to the Student Loan Scheme Bill and were released today by Revenue Minister, Peter Dunne.

Good afternoon and thank you for inviting me to be here with you today.

When your Chairman, Stephen Eagles invited me to speak today, he reminded me of our first meeting in Manchester back in 1994.

At the time Stephen was contemplating a move to New Zealand.

He tells me that I promoted New Zealand to him as a country with an economy with firm foundations based on long-sighted policies.

I am pleased to have been so influential.

Sixteen years ago, Stephen and I sat and discussed the economic prospects of New Zealand.

Revenue Minister Peter Dunne today announced that following discussions with the New Zealand Institute of Chartered Accountants (NZICA) legislation regarding the tax treatment of resident withholding tax on trusts’ interest income is to be amended.

Mr Dunne explained that the issue related to Inland Revenue’s analysis that resident withholding tax (RWT) deducted from gross interest paid to a trust forms part of the gross interest paid to a beneficiary and had to be distributed with the interest.

Proposed new tax rules, released today, will increase the integrity of the tax system and help ensure everyone pays their fair share, Finance Minister Bill English and Revenue Minister Peter Dunne say.

Mr Dunne today released a Supplementary Order Paper (SOP) that will introduce several Budget 2010 tax measures to the Taxation (GST and Remedial Matters) Bill, which is nearing its final stages in Parliament. MPs are expected to debate the amendments on Thursday.

The proposed changes, which have been finalised after public consultation over the past few months, will:

New Zealand and Hong Kong have concluded a double tax agreement, Finance Minister Bill English and Revenue Minister Peter Dunne announced today.

Mr English and Hong Kong’s Financial Secretary John Tsang signed the agreement in Auckland.

"This agreement is an important step forward in strengthening our economic relationship with Hong Kong,” Mr English said.

Thank you very much for inviting me to be here with you today.

I am especially delighted to be part of tonight’s proceedings honouring leadership in an organisation whose objectives align so closely with my own and those of the Government.

Tonight, we pay tribute to a small group of your members who have demonstrated excellence in leadership, but I want to talk about the leadership that NZICA itself demonstrates in the accounting community in New Zealand and even beyond our borders.

Use-of-money interest rates on underpaid and overpaid tax are to change, in line with market rates on which they are based, Revenue Minister Peter Dunne announced today.

As well as cutting tax in Budget 2010, the Government is working towards making compliance with tax laws easier, Revenue Minister Peter Dunne said today.

I am very pleased to have been invited to talk to your annual conference once again.

Good morning and thank you for inviting me here to address this conference.

Low-income working families who are eligible for the minimum family tax credit can look forward to an increase from 1 April next year, Revenue Minister Peter Dunne announced today.

The protocol that updates the double tax agreement between New Zealand and the United States is now in force, Revenue Minister Peter Dunne announced today.

Revenue Minister Peter Dunne today called on Labour leader Phil Goff to "put up or shut up" on his criticism of the Government's decision to abolish gift duty.

Minister of Revenue Peter Dunne today confirmed the Government's intention to abolish gift duty, saying the decision would be welcomed by taxpayers generally as the rules were resulting in a high l

Revenue Minister Peter Dunne said KiwiSaver continues to encourage more people into saving for their retirement as he commented on the latest KiwiSaver evaluation report out today. 

Revenue Minister Peter Dunne has expressed disappointment that certain utility companies have chosen to charge GST at 15% for services supplied before the GST rate changed on 1 October.

Revenue Minister Peter Dunne says more than 1,250 submissions have already been received on the Child Support Review.

Further to my press release yesterday: qualifying company reforms announced, a series of questions and answers are listed below to provide further detail on the reforms.

Minister of Revenue, Peter Dunne said today that the Government would introduce new rules preventing loss attributing qualifying companies (LAQCs) from passing losses on to their shareholders.

The Government will amend tax legislation after IRD officials identified concerns with the tax implications of asset disposal costs, including demolition costs, from the Canterbury earthquake, Reve

Representatives of New Zealand's software development industry met today in Wellington at the inaugural meeting of the Software Developers Working Group.