Founded by Max Farndale 1947 - 2018
US to share more tax information about multinationals with New Zealand
Inland Revenue will receive more information about US multinationals operating in New Zealand following the signing of a new bilateral arrangement with the US Internal Revenue Service to share country-by-country reports.
Revenue Minister Judith Collins says this is great news as it means Inland Revenue will have better information about how multinationals allocate profits from their operations here.
“This will further enhance Inland Revenue’s risk assessment processes to make sure that the right amount of tax is being paid,” she says.
The arrangement will see country-by-country reports exchanged between the two countries on an annual basis starting from 2018.
Inland Revenue will reciprocate by sharing information on New Zealand-based multinationals with the IRS.
“The exchange of country-by-country reports is a key part of the OECD’s work on base erosion and profit shifting so I’m pleased to see we’ve been one of the first to sign a bilateral arrangement with the US,” Ms Collins says.
| A Beehive release || June 7, 2017 |||
Finance Minister Steven Joyce and incoming Acting Reserve Bank Governor Grant Spencer today signed a renewed Policy Targets Agreement (PTA), which sets out specific targets for maintaining price stability.
The Policy Targets Agreement takes effect on 27 September 2017, after Reserve Bank Governor Graeme Wheeler completes his term on 26 September 2017.
It will apply from 27 September 2017 until 26 March 2018.
There is no change from the existing agreement which requires the Reserve Bank to keep future CPI inflation outcomes between 1 per cent and 3 per cent on average over the medium term, with a focus on keeping future average inflation near the 2 percent target midpoint.
The renewed PTA will provide continuity, consistency and stability for the monetary policy target over the election period and during the period of appointment of a new Governor.
Read the renewed Policy Targets Agreement
| A RBNZ release || June 7, 2017 |||
The Government accounts for the ten months to 30 April 2017 show a surplus of $2.5 billion, although about $1 billion of that is due to timing differences that are expected to reverse out in May, Finance Minister Steven Joyce says.
“While the accounts for the year-to-date are $1.6 billion stronger than was forecast at the Budget Economic and Fiscal Update, the bulk of this change is due to a timing difference of company taxes,” Mr Joyce says. “Treasury and Inland Revenue expect most of that to reverse in May, and at this stage Treasury expects the 2016/17 accounts to be broadly as forecast.”
Core Crown revenue was $1.1 billion higher than expected for the ten month period, while Core Crown expenditure was $400 million less than what was expected.
Net debt is currently at 24 per cent of GDP.
“It is important not to take too much from a single month’s figures particularly because of the timing differences noted by the Treasury,” Mr Joyce says. “However the accounts overall do underline the Government’s improving fiscal position as a result of our strong economic plan.
“It is only by having this strong economic plan that we get to make the sort of choices we were able to make in the recent budget, and only a strong economic plan will give us the capacity to make more positive decisions into the future.”
| A release from the Beehive || June 6, 2017 |||
Live and let live communitarism has failed - - so will other naïve and ineffectual containment policies
The last round of London attacks draws attention again to what politicians and top-level law enforcement officials understand to be the only solution to religiously-inspired assassinations. This is that the relatives of perpetrators are returned to their countries of origin.
Britain continues to be the Western nation most confused by this terrorism and this is characterised by a number of symbolic responses such as putting symbolically out into the streets armed police and soldiers when the authorities know that the lethal problem is part of a society woven into the British way of life and submerged there, writes our European correspondent.
The reason that the mass summary deportation of the relatives and families is known to be the only solution is that the attackers themselves welcome their pending status as martyrs. It is also known that their belief in tribalism and therefore family means that they fear their blood relatives especially getting caught up with and paying the price of their own lethal zealotry.
Britain, much more than any other EU zone country has applied what is known as communitarism to its refugee influx. This means that these communities are left substantially to practise their own way of life wherever they happen to settle in the UK.
This contrasts with the breeding grounds for the zealotry in Europe which are much more fractionated and are therefore much more removed from replicating the traditional family-tribal way of life.
There is however a security benefit of communitarism.
It means or should mean that in law enforcement terms that for refugee settlements of any duration relatives are much more likely to become aware of developing zealotry.
Britain has been confused also by a number of stereotypes about this now manifestly accelerating zealotry.
These have seen perpetrators and likely perpetrators given identi-kit personas of which poverty, alienation, and absence of opportunity have been to the fore.
These stereotypes in turn have been reinforced by a mesh of other such semi-comforting mantras such as that all the killers are young, male, and have some kind of justified underpinning grievance for massacring civilians.
In fact the evidence proves that these killers can just as easily by wealthy, privileged by society, well past youth, and female.
At the base of the entire pattern of attacks is the British horror of putting into the public forum anything at all to do with religion and the way in which it is calculated to inspire what is known in Britain as terrorism, but which religious scholars view as a history of ad hoc attacks by the inspired on anyone within killable reach.
So there is little new in all this , a notion that many in Britain in places of authority, and who should know better, rigorously cling to.
Spontaneous murderous attacks with whatever weapon is closest at hand is a familiar theme in the context of this historic religious zealotry.
The issue now is the length of time, and the length of the casualty list, that must pass before the only known and workable response is implemented in the form of sending back to their original countries the relatives of the known perpetrators.
This reprisal is quite simply the only counter-fanaticism strategy that is within the grasp of the British authorities.
Its border statistics have been proved as being wanting. Even if these are in fact performing to specification, the surveillance and apprehension response they are supposed to engender is flawed.
In the nations from which the refugees have poured over three generations law and order is maintained by the secret police.
What was once a touching policy toward religious zealotry has itself become a lethal problem in itself.
The British have always had a kind of reverse pride in failing to understand the East in practical terms.
The critical time line now is the one centred on how long this failure to grasp reality can continue.
| From This email address is being protected from spambots. You need JavaScript enabled to view it. || Tuesday 6 June 2017 |||
Foreign Minister Gerry Brownlee has today welcomed the appointment of a New Zealander to an important role at the United Nations.
United Nations Secretary-General Antonio Guterres has confirmed the appointment of New Zealander Jan Beagle to the position of Under-Secretary-General for Management for a term of four years.
“This is a significant role with the United Nations given the new Secretary-General‘s reform priorities. It is one of a handful of very senior roles within the UN Secretariat,” Mr Brownlee says.
“As the Secretary-General noted in making the appointment, Ms Beagle has had a distinguished career in the United Nations serving in a number of high-level roles in New York and Geneva, most recently as the Deputy Executive Director of UN AIDS.
“This appointment is a tribute to Ms Beagle’s abilities and her excellent performance in the United Nations.
“I’d like to congratulate Ms Beagle on her new role and we look forward to working with her,” Mr Brownlee says.
| A beehive release || June 02, 2017 |||
Associate Health Minister Peter Dunne says New Zealand is to remove restrictions around cannabidiol (CBD), in line with international developments.
CBD is a substance found in cannabis that has potential therapeutic value. It has little or no psychoactive properties, yet it is currently a controlled drug under the Misuse of Drugs Act.
“At present CBD products for therapeutic use are only available if approval is given by the Ministry of Health.
“I have taken advice from the Expert Advisory Committee on Drugs (EACD) that CBD should not be a controlled drug and am pleased Cabinet has now accepted my recommendation to make this change. Therefore, I am now taking steps to remove restrictions accordingly.
“In practical terms, the changes mean CBD would be able to be prescribed by a doctor to their patient and supplied in a manner similar to any other prescription medicine.
“Australia has already taken a similar step while other countries are also responding to emerging evidence that CBD has a low risk of harm when used therapeutically.
“This change is about future-proofing access to CBD products, as the reality is that there will continue to be barriers beyond New Zealand’s control to people accessing such products from overseas,” says Mr Dunne.
Currently there is a limited range of CBD products made to a standard where prescribers can be sure the products contains what is claimed – and strict import and export restrictions on products sourced from other countries, which will continue to impact the supply of CBD products in New Zealand.
“However, we do know of at least one CBD product in development made to high manufacturing standards that will contain two per cent or less of the other cannabinoids found in cannabis,” said Mr Dunne.
The changes will include removing requirements for:
Prescriptions would be allowed for up to three months’ supply, rather than one month. These measures can be achieved by amending the Misuse of Drugs Regulations 1977 in the first instance, pending any future amendment of the Misuse of Drugs Act.
| A Beehive release || June 2, 2017 |||
Resene has recycled over three million paint containers and found innovative uses for leftover paint, with its PaintWise scheme, Associate Environment Minister Scott Simpson announced today at Resene’s factory in Lower Hutt.
“Often consumers buy more paint than they need for a project and the leftover paint is stored in sheds and cupboards, or is taken to the local landfill for disposal. Resene PaintWise provides New Zealanders with an environmentally responsible way of disposing of their waste paint,” Mr Simpson says.
Resene PaintWise accepts all brands of paint and paint containers and finds alternative uses for them. These include recycling paint in concrete manufacture, recycling paint containers, donating good quality paint to community group projects and using waste paint to cover graffiti. Over 250,000 litres has been donated to communities to cover graffiti which equals over two million square metres of graffiti to be covered with the help of the scheme so far.
“It’s great to see New Zealand business taking up the challenge of reducing their products’ environmental impacts. Resene PaintWise was the first whole-life-cycle paint recycling programme in the world.”
“Resene is an excellent example of an organisation taking responsibility for waste in its industry. I encourage other organisations and industries to get accredited so they too can receive the economic and environmental benefits of product stewardship.”
“Under the Waste Minimisation Act, I can accredit product stewardship schemes that meet the criteria for reducing waste and environmental harm. A product stewardship scheme will only be accredited after it has been thoroughly assessed to ensure accreditation criteria have been met. In turn, accredited schemes have to report annually me on their objectives and targets.”
For more information about product stewardship see http://www.mfe.govt.nz/waste/product-stewardship
For more information about Resene PaintWise and where to recycle paint and paint containers see http://www.resene.co.nz/paintwise.php
Foreign Minister Gerry Brownlee has today handed over four amphibious boats to the Fiji National Disaster Management Office at a ceremony in Suva.
“New Zealand and Fiji have agreed to trial the Sealegs boats in emergency response situations and natural disasters,” Mr Brownlee says.
“Amphibious boats do not require infrastructure to launch, which means the emergency responders will be able to get the vessels in the water more quickly and operate more effectively in flooded urban environments.
“Fiji’s emergency responders will use the vessels to reach stranded people, as well as to get support and supplies to people who have been cut off by flooding or other natural disasters.
“The $1.2 million, two-year trial will see four vessels provided to the Fiji authorities along with other emergency equipment, and a training and maintenance programme.
“The Sealegs boats will complement Fiji’s excellent emergency response systems and boost their disaster response capacity.
“This trial is a partnership between the governments of New Zealand and Fiji, to test innovative technology that will ultimately help save lives and deliver humanitarian assistance when disaster strikes,” Mr Brownlee says.
Mr Brownlee is currently in Suva for his first official visit to Fiji as Foreign Affairs Minister.
| A release from the Beehive || May 31, 2017 |||
Foreign Affairs Minister Gerry Brownlee has welcomed the announcement that United States Secretary of State Rex Tillerson will visit New Zealand next week.
Secretary Tillerson will meet with Prime Minister Bill English and Minister Brownlee in Wellington on June 6.
“New Zealand and the United States enjoy a long-standing friendship,” Mr Brownlee says.
“We share a deep interest in maintaining peace, prosperity and stability in the Asia Pacific region and we have worked closely together to counter terrorism in Iraq and Afghanistan. The United States is our third-largest individual trading partner.
“We welcome Secretary Tillerson’s visit as a chance to strengthen the close relationship between New Zealand and the United States, to discuss some of the world’s most pressing issues, and to further promote our economic ties,” Mr Brownlee says.
| A release from the Beehive || May 31, 2017 |||
The wine industry has become the fourteenth industry sector to join the Government Industry Agreement (GIA) biosecurity partnership, Primary Industries Minister Nathan Guy has announced today.
“It’s very good news to have New Zealand Winegrowers working with the Ministry for Primary Industries and other industry partners on biosecurity,” says Mr Guy.
“It means we can work together on preventing, managing and responding to the most important risks like Pierce’s Disease and Brown Marmorated Stink Bug.
“This shows the wine industry takes biosecurity seriously and wants to work collaboratively with MPI on preparedness and responses.
“As the recent Biosecurity 2025 Direction Statement outlines, biosecurity is a shared responsibility. We need everyone working together sharing their expertise and experience.
“Last week I was proud to announce an $18 million boost to biosecurity in Budget 2017, meaning the total biosecurity budget is now just under a quarter of a billion – the highest ever.”
The signing of the agreement was attended by Mr Guy at a ceremony in Parliament tonight.
New Zealand’s wine exports are worth around $1.6 billion a year.
Other signatories to the GIA include:
| A Beehive release || May 30, 2017 |||
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242
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