“Post-budget, it’s becoming clearer that for some businesses, the tax cut in last week’s budget will be effectively wiped off the books, or at least substantially offset by the cost of KiwiSaver,” say Ernst & Young budget spokespeople Jo Doolan and Aaron Quintal.Ernst & Young is recommending businesses take steps to calculate the impact of […]
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National votes against KiwiSaver
National today voted against the Budget legislation, underlining its opposition to the very initiatives that will help to build a stronger economy and a fairer society, Finance Minister Michael Cullen said today.”Last week it voted against the company tax rate cut, the employee tax credit for KiwiSaver, and a lower tax rate on savings vehicles. […]
SBS becomes KiwiSaver provider
The funds management and financial planning subsidiary of the Southland Building Society (SBS), Funds Administration New Zealand Limited (FANZ), has received Inland Revenue approval to become a KiwiSaver provider. [ | | | | ]
Key wrong on KiwiSaver
Finance Minister Michael Cullen said Opposition leader John Key has deliberately exaggerated the net cost to employers of KiwiSaver.”In Parliament today he did a back-of-the-envelope calculation offsetting the benefit of the business tax package that is simply incorrect,” said Cullen. “He has ignored the employer tax credit and used the wrong basis for his claims […]