Accounting and tax news round up

www.NetProphet.co.nz

Thursday 21st January 2010

Specialist accountancy website Netprophet.co.nz hones in this week on what the Tax Working Group's recommendations mean for New Zealand.

It has industry response to the recommendations with the NZICA saying the report does not go far enough and KPMG looking at how the Government needs to respond.

NetProphet.co.nz reporter Rob Hosking also delves deeper behind the recommendations, looking specifically at property tax.

In other news NetProphet looks at how Inland Revenue's controversial views on depreciation of residential rental properties are being challenged.

You can also keep up-to-date with Netprophet.co.nz on Twitter. Follow us on http://www.twitter.com/netprophets

Raise GST and close property loopholes to fix tax system

Raising GST to 15% and closing down around $2 billion a year in tax loopholes on property ownership would help pay for tax reforms that could cut the top personal tax rate to 30% and the company tax rate to 25%, says the Tax Working Group. >>Read more

Property the tax target

"We have a preference for getting more out of the property sector," Tax Working Group member Rob Cameron told today's launch of the group's final report. >>Read more

NZICA: Critical tax changes in Government's hands

The New Zealand Institute of Chartered Accountants (NZICA) says the Tax Working Group's report does not go far enough in recommending what it believes are the best options for New Zealand's tax system. >>Read more

KPMG - It's not helpful for the NZ tax system to lurch one way then another

KPMG has responded to the Tax Working Group's recommendations saying it does not support raising taxes per se. However, it does support a fair, sustainable and balanced tax system that encourages better investment infrastructure, supports economic growth, and enables competitive advantage in the economy. >>Read more

How to cope with hundreds of emails

You know how important it is to save time. It's one of the most valuable commodities today. As you know your Inbox can be a great time waster. You can have significant numbers of emails to read and answer every day. >> Read more

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