Polson Higgs
June 2011 News Archive
Budget News (3 June 2011)
On Thursday, 19 May, the Honourable Bill English delivered his third budget.
The background for this budget is both an election year, together with a difficult financial position given the pressure put on the Government’s resources by the Christchurch earthquake and the impact of the slow recovery following the global financial crisis.
Unlike last year’s budget where significant tax changes had been signalled, only minor tinkering of the tax system had been indicated prior to the budget.
Continue Reading >>Changes to Tax Legislation (8 June 2011)
The Government has passed legislation introducing several tax relief measures to help Christchurch residents and businesses trying to get back on their feet after last month’s earthquake. We have included a summary of these measures below, for more detailed information please check http://taxpolicy.ird.govt.nz/publications/2011-sr-earthquake-bill/overview
These Measures Include:- An Exemption from Tax and Gift Duty for Donated Trading Stock
- An Exemption from Tax on Welfare Contributions by Employers
- Exempting certain payments made to families who receive Working for Families tax credits from counting as income.
- Extending the redundancy tax credit.
- When will the Legislation be enacted?
- Extension of Tax Dates
Continue Reading >>
Update Recovery Assistance (15 June 2011)
The 6.3 earthquake in Christchurch on June 13th has been classified as a new event.
As a result of timelines having restarted, we recognise that some of our clients may need help understanding and managing the effect of this on their Business Insurance. Please take this opportunity to contact your Polson Higgs partner or manager to discuss how we can help.
Last updated: Wednesday, 8 June 2011 | 12:27:17 p.m.
