Releases

Revenue
Thu 25 May 2017
Many business expenses currently written off as black hole expenditure would become tax deductible under proposals released as part of Budget 2017, Revenue Minister Judith Collins says. “Some costs of investigating the viability of a new proposal or project – that is, feasibility expenditure – are currently neither immediately tax deductible, nor depreciable. As a result, it falls into what businesses describe as the black hole,” Ms Collins says.
Energy and Resources
Mon 22 May 2017
The fact that 138,000 people have switched electricity retailers already this year shows competition is strong and consumers continue to shop around for a good deal on their power bill, says Energy and Resources Minister Judith Collins. “The What’s My Number website is a quick and easy way for New Zealanders to figure out if they are already on the best deal, or if they could be saving on their power bill by switching provider.” ...
Ethnic Communities
Mon 15 May 2017
Ethnic Communities Minister Judith Collins has today announced the appointment of eight Trustees to the Chinese Poll Tax Heritage Trust.  The Trust aims to create a heightened understanding of the Chinese community within New Zealand and to strengthen the unique identity of Chinese New Zealanders. ...
Energy and Resources
Thu 11 May 2017
I am delighted to be addressing you as Energy Minister as I understand just how vital this portfolio – including your part in it – is to our New Zealand way of life. Electricity is fundamental to our well being and necessary to our economic success. As trustees of distribution companies you are the stewards of this important sector. For many decades the electricity industry was largely stable and secure with little change.  ...
Revenue
Wed 10 May 2017
More than $10 million in research and development loss tax credits have already been paid out after the first year of a scheme designed to help start-up companies access some of their tax losses sooner, Revenue Minister Judith Collins says. Pay-outs are still being processed for the last financial year, which saw 187 companies successfully lodge applications to `cash out’ business losses associated with R&D spending. ...
Revenue
Wed 19 Apr 2017
Inland Revenue will waive use of money interest on late tax payments when flooding has prevented people from paying on time, say Lead Minister for Edgecumbe Anne Tolley and Revenue Minister Judith Collins. “In the aftermath of the Edgecumbe and Bay of Plenty floods businesses in affected areas have enough to deal with without having to worry about their tax obligations at the same time,” Mrs Tolley says. ...
Energy and Resources
Tue 18 Apr 2017
Energy and Resources Minister Judith Collins has today announced the appointment of two new members to the Electricity Authority. The Electricity Authority is an independent Crown entity established in November 2010.  It is responsible for governance and regulation of the electricity market and its objective is to promote competition, reliable supply, and the efficient operation of the electricity sector for the long term benefit of consumers. Allan Dawson and Sandra Gamble have been appointed for terms of five years each commencing 18 April.
Revenue
Thu 6 Apr 2017
A new tax bill introduced into Parliament today will help modernise our tax administration while ensuring that the current system works as it should, says Revenue Minister Judith Collins. “The Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Bill contains proposals relating to collecting employment and investment income information.  The proposals will help Inland Revenue to ensure that people are on the right tax code and receiving any entitlements correctly.”
Revenue
Thu 30 Mar 2017
Revenue Minister Judith Collins and Tertiary Education, Skills and Employment Minister Paul Goldsmith say they are encouraged to see a marked increase in overseas student loan defaulters contacting Inland Revenue and taking steps to pay off their loans. Since December 2014 there has been a 66% increase in the number of overseas borrowers who are behind on their payments getting in touch with Inland Revenue. ...
Energy and Resources
Thu 30 Mar 2017
Energy and Resources Minister Judith Collins is leading a petroleum sector trade delegation to Texas and an electricity sector trade delegation to Silicon Valley next week. Ms Collins will be accompanied by a petroleum sector delegation, which includes representatives from New Zealand Oil and Gas, Todd Energy and the Petroleum Exploration & Production Association of New Zealand, to Texas.    ...
Revenue
Wed 29 Mar 2017
Revenue Minister Judith Collins today welcomed Inland Revenue’s new webpage to help trustees of foreign trusts comply with the new disclosure rules. “Foreign trusts now have to provide significantly more information than in the past. The webpage has all the information on the new rules and includes the forms which trusts need to complete in order to be registered by 30 June 2017. ...
Revenue
Thu 23 Mar 2017
A Bill  to improve and strengthen the tax rules passed its third reading today, Revenue Minister Judith Collins says. “Building a more competitive and productive economy for New Zealanders is a priority for this Government. “Making sure that the tax rules keep up with social and economic changes, as well as current business practices, is a vital part of a well-functioning economy. ...