Wealthiest New Zealanders pay 8.9% effective tax rate due to untaxed capital gains, IRD report finds
A report prepared on behalf of the Government says high wealth families pay a median effective tax rate of just 8.9%, as they earn significant income from untaxed capital gains. "I repeat again today that I have never favoured taxing the family home, either by way of capital gains or imputed rents. The report notes that capital gains are volatile, which means the effective tax rate of high-wealth families can vary from year to year. The lower return derived from the asset is a cost from the tax system that is not captured in average effective tax rates,” IRD said. It did find that effective tax rates were generally lower than statutory rates, but also that effective rates increased as the net real economic incomes of households increased.
Source:Stuff
April 26, 2023 20:17 UTC
Climate Change Commission calls for redesign of ETS scheme to slow forestry
Commission Chairman Rod Carr said the headline message was that New Zealand needed to “pick up the pace” of gross emissions reductions. “We must ensure we are reducing our gross emissions from all sources as much as possible, rather than solely relying on offsetting our climate pollution. Current policies were encouraging an over-reliance on sequestration from pine forests, which could threaten the gross emission reductions required to stay net-zero beyond 2025. The ETS currently treats gross emissions reductions and forestry sequestration as direct equivalents. This means a lot of pine forests will be planted before it becomes economic for businesses to pursue gross emission reductions.
Source:New Zealand Herald
April 26, 2023 17:42 UTC
ICC World Cup 2023: “Too Early In Case There Is That Chance Still” – Gary Stead On Chances Of Kane Williamson For World Cup
New Zealand head coach Gary Stead provided an update about the injury of Kane Williamson. He said that it’s too early to rule him out of the ICC Cricket World Cup as he is in the early stages of his rehab program. Kane Williamson suffered a horrific knee injury in the opening game of the ongoing Indian Premier League (IPL) 2023. Also Read: ICC World Cup 2023: Despite Injury, Kane Williamson To Travel To ICC Cricket World Cup 2023Gary Stead while updating about Williamson said that he’s in a brace and they don’t want to rule out a player of his calibre. Also Read: ICC Cricket World Cup Qualifier 2023 Play-Off Fixtures RevealedVirat Kohli | Rohit Sharma | Rishabh Pant | KL Rahul | Suryakumar Yadav | Sanju Samson | Shreyas Iyer | Yuzvendra Chahal | Jasprit Bumrah
Source:Stuff
April 26, 2023 15:35 UTC
Serious injuries after arm caught in machinery
One person is in a serious condition following a workplace accident in Invercargill. A Fire and Emergency spokesman said two appliances responded to reports of a man who caught his arm in a piece of machinery in Otepuni Ave about 1pm. A St Johns spokeswoman said one ambulance was on the scene about 1.15pm. Photo: Cole YeomanThey transported one person in a serious condition to Southland Hospital. titus.lambertlane@odt.co.nz
Source:Otago Daily Times
April 26, 2023 15:22 UTC
Cop car smashes into Mt Albert bus shelter, four people injured
nzherald.co.nz published this video item, entitled “Cop car smashes into Mt Albert bus shelter, four people injured | nzherald.co.nz” – below is their description. One person has been taken to hospital with moderate injuries after a police car crashed into a bus stop which left a major road in central Auckland closed for several hours. Full story: https://bit.ly/3AsE5cn Subscribe and be notified of breaking news: https://goo.gl/LP45jX Check out our playlists: https://goo.gl/Swd249 Like NZ Herald on Facebook: https://goo.gl/tUC4oq Follow NZ Herald on Instagram: https://goo.gl/oLicXe Follow NZ Herald on Twitter: https://goo.gl/Wi6mbv nzherald.co.nz YouTube ChannelGot a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
Source:New Zealand Herald
April 26, 2023 14:47 UTC
Why are avocados so expensive in New Zealand right now?
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Source:Stuff
April 26, 2023 11:49 UTC
"It's still far too early to know" - Gary Stead on Kane Williamson's availability for 2023 World Cup
New Zealand head coach Gary Stead reckons it's too soon to rule Kane Williamson out of the 2023 World Cup to be held in India later this year. Stead also hinted at using Williamson as a mentor in case the injury makes him unavailable for the tournament. Ahead of the five-game ODI series against Pakistan, Stead revealed that Williamson's surgery was successful, but is not too hopeful of his availability for the World Cup. "It does make it pretty difficult to finalise plans right now" - Gary Stead on 2023 World CupGary Stead. So, it does make it pretty difficult to finalise plans right now.
Source:Stuff
April 26, 2023 07:32 UTC
Why are NZ Police confiscating legal medicine?
The officers were interested in the bottle, containing prescribed medicinal cannabis containing cannabidiol (CBD) and Tetrahydrocannabinol (THC), which was labelled. Most Kiwis are not aware that legal medicinal dry leaf cannabis is now available in New Zealand, and that seems to include the NZ Police. TDB Recommends NewzEngine.comMedicinal cannabis is now perfectly legal, you need to contact a licensed medicinal cannabis Dr, have a consultation and you get a legal prescription to buy dried flower cannabis from them. The Police have no right to confiscate your legal medicinal cannabis. Tell these cops to get out of our legal weed, we’ve found a loophole in the current legislation and we will exploit it every day of the week.
Source:Stuff
April 26, 2023 05:11 UTC
Nerves give way to moving performance
Jonathan Sherwood performs the Last Post in front of The Great War Memorial yesterday as part of the Anzac Day Parade. PHOTO: NIC DUFFThe soothing sound of a cornet on Anzac Day had a different feel to it this year. Oamaru Garrison Band member Jonathan Sherwood performed the Last Post at the Anzac Day service at the Garden of Memories in Oamaru yesterday. While he had performed the song at other Anzac Day services, this was his first time performing it at the main service in town. Mr Sherwood took over from long-time trumpet player Ray Walker who performed the Last Post at last year’s Anzac Day service.
Source:Otago Daily Times
April 26, 2023 00:14 UTC
Breakfast briefing: The threat level to world financial stability gets downgraded
Risk off tone brings a firmer US dollar (USD) overnight, but only back near to where we left it late Monday. It was a risk off session in Asia yesterday with China’s CSI 300 index falling for a fifth day, down 0.5%. This weighed on US equities with the Nasdaq KBW banking index currently down 3.6% on the day. This is akin to a downgrade in the threat level to world financial stability. In domestic rates, Monday was very quiet in NZ being wedged in between the weekend and yesterday’s ANZAC Day holiday.
Source:New Zealand Herald
April 25, 2023 22:58 UTC
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Joe Biden announces 2024 reelection bid: ‘Let’s finish this job’
President Joe Biden has formally announced that he is running for reelection in 2024, asking voters to give him more time to “finish this job” and extend the run of America’s oldest president for another four years. President Joe Biden and first lady Jill Biden participate in the 2023 White House Easter Egg Roll. “That’s why I’m running for reelection.”As the contours of the campaign begin to take shape, Biden plans to campaign on his record. With Republicans now in control of the House, Biden has shifted his focus to implementing those massive laws and making sure voters credit him for the improvements. And they insist that when Biden is compared with whomever the GOP nominates, Democrats and independents will rally around Biden.
Source:New Zealand Herald
April 25, 2023 22:37 UTC
New Zealand Jolted by Massive 7.2 Magnitude Earthquake
25 April 2023, Bengaluru, IndiaThis news comes straight from Wellington, the capital city of New Zealand, reporting that the nation is hit by an earthquake of magnitude 7.2 on the Richter scale. The tremors were felt in the Kermadec Islands region at 12:41 pm local time. Image source: Scientific AmericanWhile a tsunami threat was still on the chart, the Pacific Tsunami Warning Centre confirmed that there was no immediate tsunami threat to the Hawaii region and a wider Pacific area. Image source: The GuardianWhile the effects of the earthquake tremors were felt by people, it was a relief that the earthquake didn’t affect much in the area. Previous instances were reported where people saw earthquakes of magnitude more than 8 in the Kermadec Islands region.
Source:Stuff
April 25, 2023 09:46 UTC
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Hundreds of bikes cause chaos across Auckland, attacking a car and leaving motorists ‘freaked out’
Dirt bike, scooter and quad riders at the intersection of Auckland's Penrose Rd and Mt Wellington Highway on Tuesday. A gang of dirt bike riders were filmed riding in Pakuranga, with some not wearing helmets and others popping 'wheelies'. Police have attempted to crack down on illegal dirt bikes as they continue to plague residents across the country. Dangerous dirt bike riding has been an issue across Auckland that has frustrated residents for some time. “It is illegal to ride a dirt bike on the road unless it is roadworthy with a current warrant and registration.
Source:Stuff
April 25, 2023 08:10 UTC
Tuesday kicks off with a chilly start, followed by the onset of rain on Wednesday.
- Advertisement -The article discusses the impact weather that is expected to hit Alabama in the coming days, with several rounds of rain and storms. Thursday is an impact day due to the chance of severe storms, and Saturday may also see severe storms. Residents of Alabama should prepare for impact weather as several days of rain and storms are expected to hit the state. While the rain and storms may impact outdoor events, it will not be raining 24/7 through the whole period. In summary, Alabama residents should prepare for impact weather ahead as several days of rain and storms are expected to hit the state.
Source:Stuff
April 25, 2023 04:22 UTC