Articles about GST

The potential slow down for businesses around the country when the GST rise hits this Friday is concerning, particularly as the pre-GST period has not brought any significant rise in spending and as consumer confidence in recent surveys has taken a fall according to MYOB.

The Government's 1 October tax changes will further boost real after-tax wages by 1.2% in the three months to December, leaving the vast majority of New Zealanders better off says Finance Minister Bill English.

The government announced today that it will enact recommendations made by the GST Advisory Panel that will deal with a range of difficulties arising in the transition to the 15% GST rate.

A bill tabled in Parliament today will prevent so-called "phoenix" fraud schemes that undermined the integrity of the GST rules, said Revenue Minister Peter Dunne.

Long awaited tidy up rules for GST have been introduced to Parliament.

The case for removing GST on healthy food is flawed, according to New Zealand Institute of Chartered Accountants tax director Craig Macalister.

The High Court has found tax avoidance in an arrangement where two companies deliberately registered for GST on a mismatched accounting basis and incorporated non-arm's length individuals for the purpose of developing and selling software.

Businesses with contracts, leases or transactions straddling the Oct. 1 implementation of the new 15% GST rate are being urged to make the newly appointed GST Advisory Panel aware of any problems they face with the changeover.

The recently appointed GST Advisory Panel will help ensure that a business sector that has not faced GST change in a generation has a smooth transition to the 15% rate on 1 October, says Revenue Minister Peter Dunne.

PricewaterhouseCoopers (PwC) has released some business guidelines for the transition of GST from 12.5% to 15% with less than four months to go before the change comes into force.