Heather du Plessis-Allan Drive

A senior tax director predicts the Government will propose a capital gains tax and take it to the election. An Inland Revenue report released yesterday found the average earner is taxed at more than double the rate of New Zealand's wealthiest. Andrew Dickeson from Baker Tilly Staples Rodway suspects the Government will introduce a broad tax on capital, but it risks running the rich out of New Zeal...

National should be sweating, because Chris Hipkins is stealing their lines.  That is what struck me listening to his pre-budget speech today . His speech could’ve been delivered by the leader of the National Party . It was in front of a business audience.   He took a crack at the last Government- as if he wasn’t actually a part of Jacinda’s Government- saying “The reality is the Government was pre...

The Property Investors Foundation says current rental market rules are tipped too heavily towards tenants. The National Party has made an election promise to reintroduce no reason evictions and to reduce the Bright Line test down to two years instead of ten. It's also pledging to restore interest deductibility to rental properties. Property Investors' Federation President Sue Harrison says not hav...

A road safety advocate is applauding Wellington's proposed speed limit slash. The City Council today voted to consult on cutting speed limits to 30 kilometres an hour on most roads, including those near schools and play centres. Lucinda Rees from NZ School Speeds says it's a beneficial policy and the Council should get on with approving it. "Children should have the opportunity to walk and cycle s...

The Prime Minister is being praised for a "business friendly" pre-budget speech. Chris Hipkins says the Government will deliver a no-frills Budget, balancing restraint with funding the basics on May 18. He's ruled out introducing a capital gains or wealth tax, and bringing in a cyclone levy to fund the recovery. Auckland Business Chamber chief executive Simon Bridges says it provides certainty. "I...

Prime Minister Chris Hipkins today delivered his first speech ahead of the Budget on May 18. Today's speech was used to rule out extra taxes, including a predicted wealth tax following the IRD report and a cyclone levy to cover the damage inflicted by Cyclone Gabrielle. ZB's senior political correspondent Barry Soper says Chris Hipkins has promised his business audience  a no-frills budget before...

The Australian Government is set to overhaul its immigration system to speed up getting highly skilled workers into the country. It comes after a recent review found the existing immigration system is broken and not fit for purpose. The federal Labor Government is set to modify the system so it'll identify people with the correct skill sets the Australian economy needs. Australian correspondent Mu...

Concerns over how long medicine funding applications take to be processed by Pharmac. A new report found it takes an average of nearly eight years to be funded here, with a six-year average wait time for applications on the Options for Investment list. It also found more than 60 percent of medicines were known to be publicly funded in at least five other countries. Medicines New Zealand chief exec...

A second evacuation flight has rescued more UK nationals from war-torn Sudan. This flight touched down in Larnaca earlier today, according to Cyprus’s foreign ministry. From there, the rescued citizens will catch a charter flight back to the UK. UK correspondent Gavin Grey says it's still unknown how many people were on this second flight, but it's estimated that roughly 250 people were flown to C...

Tonight on The Huddle, Newstalk ZB Wellington Mornings host Nick Mills and Jack Tame, host of ZB's Saturday Mornings and Q&A joined in on a discussion about the following topics:  Is it fair that over 300 of New Zealand's wealthiest pay a tax rate of 9.4 and middle income earners pay 20.2 percent? What might the Government plan to do with this IRD report?  Joe Biden has confirmed he's up for r...

An IRD report today found that New Zealand's wealthiest pay tax at nearly half the rate of ordinary people. A sample of over 300 wealthy Kiwis (all worth over $50 million) revealed they paid a median tax rate of 9.4 percent. Treasury data indicates that 'middle wealth' New Zealanders pay a 20.2 percent tax rate. Infometrics Principal Economist Brad Olsen says no matter what way you cut the figures...

Synlait Milk shares have taken a dive on the share market today. The company's shares have fallen by 27 percent, taking losses for Synlait to over 50 percent for the first third of 2023. Milford Asset Management Equities Analyst Jeremy Hutton says the 'ominous' trading halt on Friday indicated that bad news was coming for the company. Jeremy Hutton says Synlait Milk's profit decline was caused by...

The Reserve Bank might make things easier for prospective borrowers to get a mortgage. The RBNZ is proposing to loosen loan-to-value ratio (LVR) restrictions, giving banks more leeway to lend to high-risk borrowers. NZ Herald Wellington business editor Jenee Tibshraeny says the Reserve Bank is proposing a relatively small change to LVR restrictions, and this change is likely to happen. LISTEN ABOV...

A new IRD report has found that the wealthiest New Zealanders pay tax at half the rate of ordinary people. This IRD study reveals a sample of over 300 New Zealanders paid a median effective tax rate of 9.4 percent. Revenue Minister David Parker said the report shows that "middle wealth" Kiwis pay higher tax rates than their richer counterparts. ZB's senior political correspondent Barry Soper says...

Scott Robertson's coaching team for the All Blacks after this year's World Cup has been locked in. Blues coach Leon Macdonald and Hurricanes coach Jason Holland will be leading the team's attack, forwards coach Jason Ryan is staying on and Crusaders assistant coach Scott Hansen will take over defence. Sportstalk host D'Arcy Waldegrave says the best part of today's announcement was that there were...

Joe Biden has formally announced his campaign for re-election to the White House in 2024. He's already the oldest president, and would be 86 before ending his second term. It could mean a second Biden v Trump election, a prospect supported by only 5 percent of Americans. US correspondent Dan Mitchinson says many voters would like a new face in the presidential race. "Nobody wants this to happen ag...

A call to action from the Climate Change Commission. It's released draft advice to inform our second emissions reduction plan- covering 2026 to 2030- which now goes out for consultation. The 19 recommendations include committing to set gross emissions, accelerating renewable electricity and supporting farmers to adopt cleaner practices. Chair Rod Carr says he believes we can make our targets, but...

Scott Robertson and NZ Rugby have confirmed the new assistant coaching lineup for the All Blacks. Blues and Hurricanes coaches Leon MacDonald and Jason Holland will oversee the All Blacks attack when Robertson takes over in 2024. Crusaders assistant Scott Hansen will take charge of the defence, while Jason Ryan remains as forwards coach. Former All Black Steve Gordon likes the look of this coachin...

The ski season starts in July, but Ruapehu Alpine Lifts' future remains on thin ice. The company has four potential Kiwi buyers after going into voluntary administration, driven by pandemic disruptions and poor snow. Administrator John Fisk has outlined the other alternatives. "Possibly going into liquidation, announcing closing or going into some sort of hibernation. But all of those have costs t...

The Revenue Minister's staying tight-lipped about Labour's vision for New Zealand's tax system. An IRD study's revealed the top 1 percent of earners pay a median effective tax rate of 9.4 percent on income. Meanwhile, Treasury estimates a comparable tax rate for a "middle wealth" Kiwi is roughly 20 percent. It's already prompted several economists to call for taxing capital gains. Minister David P...

The Reserve Bank says it's proposed change in lending rules - because the housing market is changing. It wants to let banks grant a larger percentage of its new lending, to borrowers with less of a deposit. Reserve Bank Deputy Governor Christian Hawkesby says house prices have moderated to become more sustainable. He says he expects the proposal will be attractive to banks. "It is a very short con...

The Red Cross is defending itself from accusations it's not doing enough to help in Hawke's Bay after Cyclone Gabrielle. It's collected $22 million dollars, but only spent $3.98 million with organisations on the ground. Some residents are still cleaning up toxic silt with shovels, with funds still unspent. Red Cross Secretary General, Sarah Stuart-Black, says they're making sure they don't step on...

There’s a tax coming, there’s definitely a tax coming.  And out of morbid fascination, I can’t wait to see how Labour goes about trying this one on .  David Parker today released his research into how much tax Kiwis paid   and he's got the headlines he wanted. They’re all screaming that 350 of the richest Kiwis pay half the rate of tax that the rest of us do. Only 8.9 percent, compared to our 20 p...

UK citizens stuck in war-torn Sudan have raised questions after embassy staff were evacuated. Over the weekend, UK armed forces rescued all the diplomatic staff and their families from Sudan, but there are believed to be hundreds more British citizens currently trapped. UK correspondent Gavin Grey says the remaining citizens, including teachers and NHS doctors, feel abandoned by the UK Government....

Tonight on The Huddle, former Labour Chief of Staff and current director at Mike Munroe Communications Mike Munroe and Trish Sherson of Sherson Willis PR joined in on a discussion about the following topics- and more! The Red Cross is under fire for their slow rollout of the Cyclone Gabrielle relief spending in Hawke's Bay. Are these criticisms fair? Will this scrutiny encourage them to focus more...