6 Apr 2010

2010 tax changes awaited

5:46 pm on 6 April 2010

[bs] 2010 is being described as a Rugby World Cup year for tax, with important decisions on the future direction of the tax system in New Zealand and Australia.

PricewaterhouseCoopers chairman John Shewan says there are already meaty changes for business.

New rules means firms will find it easier to undertake operations offshore, while the double tax agreement with Australia means lower withholding taxes will apply to dividends and royalties from 1 May.

May will also see the New Zealand Government reveal sweeping tax changes, and Mr Shewan says Australia is set to announce where it is going with corporate tax rates.