Deborah Russell: What’s going on with foreign trusts?

Written By: - Date published: 8:00 am, April 5th, 2016 - 66 comments
Categories: Abuse of power, International, john key, national, national/act government, Politics, same old national, slippery, tax - Tags: , ,

Henry Viii trust breaker

Trusts are weird beasts. They seem to have originated during the crusades: a death-and-mayhem-seeking-pilgrim would head off to the Holy Land, but in order to protect himself and his wife and his children and his property, he would hand over the “use” of his property to a reliable friend or neighbour. That friend would hold the property, in effect own it, for the benefit of the wife and children and so on. These “uses” turned out to be very effective vehicles for all sorts of chicanery, so eventually, Henry VIII tried to ban them. But they crept back, as trusts.

The basic idea of a trust is that someone who owns property hands that property over to another person, who holds it for the benefit of a third person. The person who gives the property is the settlor, the person who holds the property is the trustee, and the person who gets the benefit of the property is the beneficiary.

From the New Zealand government’s point of view, it doesn’t want New Zealand residents squirrelling property away into overseas trusts where the government can’t tax it. To prevent this, the New Zealand government bases taxation of trusts on where the settlor (the person who gives property to the trust) lives. If you are living in New Zealand (technically, if you are a New Zealand tax resident) and you give property to a trust, then the government here will tax that trust.

So what’s the beef with foreign trusts?

New Zealand tax law allows a foreign person who is not living in New Zealand to settle property on a trust, for the benefit of foreign persons who are not living in New Zealand at all, and at the same time, have a trustee here in New Zealand. But the settlor is overseas, and the beneficiaries are overseas, so the trust doesn’t get taxed here, at all.

That all seems fairly innocuous, provided that the trust gets taxed somewhere. But other countries don’t have the same rules as us. Many other countries tax trusts on the basis of where the trustee lives. If the trustee lives in your country, then you tax the trust, but if the trustee lives overseas, then they don’t tax it.

This means there is a mismatch between New Zealand’s rules for taxing trusts, and other countries’ rules for taxing trusts, and that mismatch creates a loophole that can be exploited. There’s quite a lucrative industry here in New Zealand, providing trustee services to foreign trusts, that was estimated in 2009 to earn about $20million in fees every year.

Overseas tax regimes can get at the property held by the New Zealand trustee, but only if they actually know about it. It’s very hard to tax something that you don’t actually know exists.

Unfortunately, the New Zealand tax administration doesn’t collect much information about foreign trusts with New Zealand resident trustees. If you look at the IRD’s Foreign Trust Disclosure Form, you will see that all a trustee has to disclose is the name of the trust, the name of the trustee, and whether or not the settlor (the person who gives property to the trust) is resident in Australia.

This all makes it very easy indeed for foreigners to channel money through trusts with a New Zealand trustee. It pushes us dangerously close to being a tax haven, and in fact, there are plenty of tax consultants and trustee firms advertising their services to enable people to take advantage of the laws. This very much suggests that we are in fact, operating as a tax haven.

The solution is quite straightforward. Up the disclosure requirements. Trustees should have to disclose the name of the trust, the names of the settlors, the value of the property held on trust, a description of the property held on trust, and the names of the beneficiaries. And this information should be made available to other tax regimes. If the authorities in the United Kingdom want to know which of their tax residents are settlors or beneficiaries of New Zealand foreign trusts, then our Inland Revenue Department should be enabled to pass on the information.

There’s just one slight caveat. There can be good reason for some people to want to hold money in a trust where it can’t be found. Perhaps people fighting for democracy in an oppressive regime might want to take steps to protect their property, so that if all else fails, they can flee. But surely we can design some measures to provide for this contingency. And in the meantime, we should be committed to letting some sunlight in.

Of course, the people setting up and selling foreign trustee services will miss out on their fees, and perhaps they will be lobbying hard to keep this handy loophole. But I’m not feeling all that sympathetic. They’re exploiting the loophole just as much as the foreign settlors and beneficiaries are, and they’re dragging down New Zealand’s good reputation in international tax.

Further reading:
Terry Baucher on “The curious world of foreign tax trusts…
Richard Murphy on how we can tell that NZ is a tax haven

Reprinted with permission from deborahfrussell.net.

66 comments on “Deborah Russell: What’s going on with foreign trusts? ”

  1. Aspasia 1

    “Uses” did not develop for all sorts of chicanery but to protect land from the king. It was not possible to leave land to whoever the testator chose…it had to go to the heir (just as the English crown nowadays must still go to the heir). If the heir was underage, the king got to administer the estate until the heir came of age…that’s time for a huge amount of asset stripping(fell forests, take all the building stone, exhaust grazing, kill all the game etc). It was possible to transfer land ownership before death so the “trusted friend” got to be the legal owner of estate before the landowner went off to fight in the war (not necessarily on Crusade, often the king’s wars in France or Scotland). The law of trusts developed to safeguard the heir when the “trusted friend” turned out not to be so trustworthy when landowner was no longer around. king Henry VIII was not after reforming abuse but was blocking up loophole depleting his revenue stream. The right to administer a minor’s estates and to marry him/her off was a valuable asset and was often on-sold by the Crown to the highest bidder. The Court of Wards developed as a major government department to run this on-selling process.

    • ianmac 1.1

      Interesting detail Aspasia.
      But currently the problem and solution outlined by Deborah is of great interest as it confounds the position Key has taken. His usual everything is OK, Nothing to see, and trust him sounds a bit hollow. Wonder where his trusts are? In NZ or in Malta or Panama?

  2. nadis 2

    Focussing on potential tax implications of this issue is actually falling for a very significant misdirection. Yes, the obvious implication of the offshore trust industry is to enabel people to avoid paying tax. But pretty much every comment in NZ in the last few days is missing the major point:

    This is actually about money laundering. Hiding the origins of funds and creating an entry point for those funds to enter legitimate financial networks.

    NZ has become part of the global anti-money laundering and countering the financing of terrorism regime which is driven by the US. All very sensible except that NZ has one ridiculous carve out. Lawyers and accountants are NOT subject to the AML rules in the same way banks, fund managers, money changers etc are. There is no legal requirement under the AML legislation for a law firm to check the identity of and understand the source of funds when a new client walks in the door. I can assure you that the large CBD law firms have facilitated way more non-resident trust business (by value) than what you are reading about in the Mossack Fonseca data. Believe me, there are literally billions of dollars of dirty Russian and dirty Chinese money laundered though NZ with the full assistance of a bunch of large firm NZ lawyers.

    The tax angle is secondary. The NZ law is simple – non residents with income sourced from outside NZ do not pay tax in NZ. That’s not controversial, in fact most british law based countries have the same approach. The next question is should NZ be collecting taxes on behalf of foreign tax jurisdictions – my opinion is no, that would be an incredibly difficult mission to embark on.

    But there is no doubt we should be doing a lot more of what Deborah is discussing.
    1. Legally identify the source of funds
    2. Legally identify the settlers, trustees and beneficiaries of any NZ domiciled trust
    3. Make this information available to foreign tax authorities that we have a tax treat with
    4. Make this information available to appropriate law enforcement authorities in NZ

    Bringing lawyers and accountants under the existing AML laws would immediately resolve almost of the issues.

    Where the tax minimisation does intersect more fully with the trust business is in the financial sector. I was periphally involved with many transactions both through NZ and other jurisdictions where trusts were used to change the ownership and nature if funds. None of this illegal, but essentially taking funds sourced in (say) Europe as equity, converting it into NZ owned debt and investing it in the US blah blah blah. Net result a guaranteed return that was essentially arbitraging different tax treatments of debt and equity in different jurisdictions. For quite a few years NZ was ground central for that business, but IRD closed it down by changing te technical rules around thinly capitalised NZ entities. IRD doesnt care about the current offshore trust business because there are no tax implications for NZ.

    Anyway, this offshore trust industry needs tidying up, but it is wrong to focus primarily on the tax implications. It is actually about money laundering which is why NZ is so popular – once funds enter the global system from NZ they look pure. Bring lawyers into the AML regime, gather all trust data as if it was a trust with NZ taxpayers and this would be cleaned up in no time.

    • ianmac 2.1

      Great stuff nadis. Thanks.
      An avenue for money laundering and some taxing. I get it.
      Winston/Winebox will be sure to comment on similar lines.

      • nadia 2.1.1

        I’d add that a lot of “entities” that use the foreign trust route (rort?) are quite happy to pay tax – especially to authorities in places like the EU, UK and the US as this further legitimises the money.

        Let’s say you have just stolen $100mm (after bribes and other costs) in a Russian crony deal, and you get that money into the white financial system. You’re now earning interest at say 4% on your investments (interest, dividends etc) – why wouldn’t you be happy pay 30% of 4% of 100mm (that’s a tax bill of 1.2 million). You are now an official part of the globally regulated financial system. Call the 1.2 million a fee for legitimising your 100mm – a no brainer.

        • greywarshark 2.1.1.1

          Come to NZ with your legitimised money, now whitened, and we will make it
          100% Pure. We have our ways, like Filipino surgeons, at achieving miracle transformations and even transmogrifications. And we need some figures on the credit side to balance the debits, so we can continue to borrow and be assessed with a high rating to keep our interest payments lowish. We are very flexible here, we’ll bend over backwards even, so give us a call.

    • Anton Angelo 2.2

      “Clean NZ Green”.

    • Draco T Bastard 2.3

      +1

      Good info.

    • Incognito 2.4

      Bingo! [no pun]

      In September last year Hamish Fletcher wrote a very nice piece in the NZ Herald Dirty cash: The fight against money laundering – should NZ do more?.

      In this piece he listed Four ways to cleanse your filthy lucre and John Key & National clearly tick three of those (and no, it does not include cycleways): casino, real estate, and overseas shell company.

      From http://www.dia.govt.nz/Services-Anti-Money-Laundering-Index:

      Money laundering is how criminals disguise the illegal origins of their money. Financers of terrorism use similar techniques to money launderers to avoid detection by authorities and to protect the identity of those providing and receiving the funds.

      The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) places obligations on New Zealand’s financial institutions and casinos to detect and deter money laundering and terrorism financing.

      The Act will ensure that businesses take appropriate measures to guard against money laundering and terrorism financing. This enhances the reputation of individual businesses, and of New Zealand as a safe place in which to do business.

      The Act came into full force on 30 June 2013.

      I think this clearly puts the responsibility for this at the feet of John Key & National, in case there was any doubt about it.

      • nadis 2.4.1

        The fact the act came into law in 2013. Prior to that there were almost no controls on “know your client” and other mechanisms to try and identify money laundering.

        Much as you would like a narrative that “National did this” you cant. Foreign sourced income to non-NZ tax residents has always been exempt from NZ tax (duh!). Not sure when trust laws were last looked at but I think 2006.

        For both parties, this is more about unintended consequences rather than intent to facilitate money laundering.

        In my opinion, a real flaw in our system is allowing lawyers to regulate themselves. The thinking is that the responsibilities of lawyers under the various legal acts would mean they would have a superior approach to knowing their clients and sources of income than other mortals. Sadly this has shown itself to be untrue on a regular basis. In my experience legal advice at the corporate level is purely about what meets then minimum legal standard rather than what is morally right. But I spose that is a lawyers job.

        Here for instance is where the ethics line can be found (or not found):

        http://www.nytimes.com/2016/02/01/us/report-describes-lawyers-advice-on-moving-suspect-funds-into-us.html?_r=0

        • Incognito 2.4.1.1

          To say “National did this” sounds so infantile and lacks the necessary nuance but I admit that my statement about responsibility was ambiguous.

          The Act obviously dealt with some aspects of ML, more with a national focus, but left many issues out. The reasons for this may have been technical (too hard), political, or some other; I honestly don’t know. But the Act is also a convenient excuse that can be used as a smokescreen to deflect attention away from some of the issues that were not dealt with. So, this is rather a “National did not do this” if you like; what was omitted from the Act.

          The Act came into full force under National since they are now in Government it is their responsibility to take action as and when required.

          Hamish Fletcher connected the dots and on each of those National cannot escape responsibility, for initiating, stimulating, propagating, obfuscating or all of these. Take your pick.

          Meeting the minimum (legal) standard has been normalised by National; it happens almost everywhere and all the time. Some call it “satisficing” and others “pragmatism”. In any case, Key promised to hold a candle for higher (highest?) standards but he breaks this promise on a frighteningly regular basis; it has become a pattern.

    • AmaKiwi 2.5

      “This is actually about money laundering.”

      Political corruption is the real danger.

      Campaign contributions totaling $10 or $20 million dollars are easy to collect from billionaires if you promise to keep letting them clean their dirty money.

      He who pays the piper calls the tunes.

  3. Draco T Bastard 3

    The solution is quite straightforward. Up the disclosure requirements. Trustees should have to disclose the name of the trust, the names of the settlors, the value of the property held on trust, a description of the property held on trust, and the names of the beneficiaries.

    That’s not the solution. The solution is to ban foreign trusts.

    This is a similar solution to the housing crisis and our increasing foreign indebtedness which is to ban offshore ownership.

    Sure, it’s going to decrease the number of customers that NZ firms have but then trying to export services isn’t a viable option anyway. Same as being export dependent on farm produce isn’t a viable position.

    The nations receiving those services will close the loopholes that are presently making them viable (My preferred option is to say that any dealings with a tax haven automatically returns all owned assets to the state) and they can produce their own lawyers.

    • nadia 3.1

      The reaction to ban anything you don’t like is childish. There are legitimate reasons why these exist and serve a purpose.

      Instead of using the word “ban” so freely, cut and paste this language instead:

      “control and tax”

      Then trusts with legitimate purpose can still use NZ, but the the ratbags are driven away.

      • nadis 3.1.1

        hmm – just noticed i mis-spelled my handle. Fingers need to go on a diet.

      • Draco T Bastard 3.1.2

        There are legitimate reasons why these exist and serve a purpose.

        I can’t think of any that wouldn’t be better served by being in their own country. In fact, the only reason I can think of for having an offshore trust is to avoid the dues of your own country.

        • nadis 3.1.2.1

          Not all countries are countries that have sensible rule of law.

          What if your own country is Singapore and you are an opposition MP getting sued to bankruptcy by a compliant judiciary?

          Or you are a human rights organisation that wants to hide donor identity?

          Or you have a failed banking system back home?

          Or in your own country there is no rule of law and the govt can expropriate assets corruptly.

          Or you want to preserve assets for your children and not your 11th wife?

          There are lots of valid reasons that arent immoral. What’s broken is the secrecy. Solve that and there isn’t anything like the same problem.

          Lets say there 12,000 trusts on the register. Collect the info as previously discussed, make them subject to normal AML requirements, require annual accounts to be filed, charge a fee of $10,000 per annum. Problem solved.

          • One Anonymous Bloke 3.1.2.1.1

            If you are any of these things you would be ill-advised to set up a trust in New Zealand because the National Party will find a way to sell your information to dictators and extradite you to death.

            • nadis 3.1.2.1.1.1

              Such as?

              • One Anonymous Bloke

                Would you trust this Prime Minister not to profit from a trade in such information? What about the evidence that KDC’s residency visa was a form of entrapment?

                • Nadis

                  Thats not the same thing as suggesting it happened.

                  And no i dont beloeve dot coms residency was entrapment. Entrapment implies that the residency caused his legal troubles. From memory dot com chose NZ – in gacr hr threatened to go to canada or austria if nz didnt approve his residency. Either of those countries would be gar easier for the usa to exteqdite him from than nz. Austealia for instance qould habe gad dot com in a derention centre rather than a waterfront apartment.

                  And residency is irrelevant to extradition.

                  I think occams razor suggests a string of unnrelated decisions and general cockups rather than a sophisticated conspiracy.

                  • One Anonymous Bloke

                    It was more a general comment on the ethics and character of the hollow men than a specific allegation.

          • Draco T Bastard 3.1.2.1.2

            KDC is an interesting case in point. If any of those nations found out that any of the situations existed and we had a trust that was fully open then the country would just do what the US did – and we’d comply.

            To get what you say is needed would actually require the secrecy. Making them disclose all that information would mean that the people trying to hide from vindictive governments would be outed.

            Then there’s the question: How many are used for those legitimate purposes?
            Because I’m reasonably certain that it would be less than 1% and that the rest are used for illegitimate purposes.

            Thing is, I don’t see any legitimate reason for trusts any more. We actually do have the rule of law (even though National tends to break the laws so that they don’t work any more) so the reason of protecting assets from the state no longer exists and people shouldn’t be able to protect their assets from the risks that they take.

            No, the only reason for trusts today is as a tax dodge.

          • Puddleglum 3.1.2.1.3

            Hi nadis,

            Presumably, then, you also agree with Deborah Russell’s ‘slight caveat’ given your examples?

            Making the names of settlors and beneficiaries available to such governments may endanger them.

            And thanks for the interesting commentary. Much appreciated.

        • AmaKiwi 3.1.2.2

          “The only reason I can think of for having an offshore trust is to avoid the dues of your own country.”

          My grandparents were trapped when the Nazis overran their country. Overnight their homeland went from democracy to dictatorship. They were able to flee because they had an overseas trust. Without that money they would have been killed.

          This is even more true today. If we can guarantee everyone in the world peace, stability, and democracy, there is no need for financial boltholes. But we can’t.

          • nadis 3.1.2.2.1

            These discussions and examples are exactly why this whole area of law is so fraught with difficulty. Setting up a well intentioned law usually allows ratbags to exploit it for nefarious means. There are good reasons for anonymous trusts, but those reasons are exactly why criminals like them.

            I suspect Mr Mossack will be spending some serious time at Club Fed. He would appear to have perjured himself quite severely in the US:

            The firm’s Panama-based co-founder, Jürgen Mossack, testified under oath that “MF Nevada and Mossack Fonseca do not have a parent-subsidiary relationship nor does Mossack Fonseca control the internal affairs or daily operations of MF Nevada’s business.”

            Emails show a conspiracy to delete data and remove files from the US.

            Panama has an extradition treaty with the US.

            https://panamapapers.icij.org/20160403-mossack-fonseca-offshore-secrets.html

          • Draco T Bastard 3.1.2.2.2

            Very lucky for them.

            Why’d they set it up in the first place? Because I doubt if it was to flee the country after the Nazi’s invaded.

  4. adam 4

    These mutations are just the the parasite evolving, but it is still sucking the life blood out of our society and the world.

    Is this the epoch when people finally wake up to the reality that capitalism is that parasite?

    It can not help itself, it will eat us all, unless we stop it.

    • Draco T Bastard 4.1

      Is this the epoch when people finally wake up to the reality that capitalism is that parasite?

      The only way we can ensure that that happens is to keep telling people the truth about how capitalism truly operates and how it’s inherently corrupt.

    • aerobubble 4.2

      Rubbish. Parasites exist, communism gets them too, worse even.

      The question i think the revelation poses is quite simple, do rich people want to be outed as associating with drug barons, dictators and tax dodging football stars.
      This story is a shot across the bows, anyone idiotic enough to believe wealth means you have a right to avoid progressive taxation.

      Pay your tax or else your next. Trusts are in the limelight, you like them, so if u wish to continue to, to protect wealth, dont be abusing also to avoid tax. duh.

      Thatcherism was not the reason for the last thirty years of avantageous growth, cheap oil would have engorged whomever was in power, and moderate liberal govts would have used tax revenues to build freer markets, and left the world more prosperous. Now the era of stupid rich myth is ending. Thatcher was a creep, neo lib a over simplied distraction to create a over supply of financial services.

      • adam 4.2.1

        OH look seagulls.

        Can you dribble any more areobubble. Wait, how about we get you Mccarthy’s hand book?

        Any artist you want to crucify whilst you are at it?

        “One must not criticise capitalism, as it’s wonderful and look all the lovely things you have, yes that was capitalism, so you daft commie, shut up”

        Is that what you were thinking areobubble? or was it more John Wayne in form – “Shot that God Dam Commie B*&^%$d”?

        I can’t even work out what else you are saying. Any chance of a clarification, after your first remarks.

        Just a wee heads up — if you going to say “duh”, It would be useful to have a comprehensible sentence preceding it. Rather than, well, I just don’t know what you were trying to say.

        • aerobubble 4.2.1.1

          Humans are parasites on the planet, capitalism is just natural behaviour for our spies. No, superbeing, you, can undo this, so disappear up your ad homi arse.

  5. Colonial Viper 6

    Taxes are only for salary and waged working saps, and for small Kiwi businesses who are just trying to make it month to month.

    They’re not for financial capitalists nor the power elite 0.01%.

  6. shorts 7

    thank you for explaining this Deborah in a manner I can understand – cheers to the standard for the post

    Time to Eat the Rich isn’t it?

    • Murray Simmonds 7.1

      Yes, thank you Deborah for a wonderfully clear exposition on what trusts are/should be for. The history is interesting too. And thanks also to Aspasia for expanding on the history.

  7. Policy Parrot 8

    This fish can also be fried another way:

    1. Remove trusts from the tax residency requirements, and make all trust settlors liable for tax in NZ.

    2. With approved foreign jurisdictions, any foreign tax charged to either settlor or trustee, entitles the trust to tax credits of the same amount as the foreign tax.

    Rather than the tax agencies chasing their tails, it puts the onus on trustees to demonstrate that they have indeed paid tax somewhere, in order to receive NZ tax-free status.

    • Gristle 8.1

      Yes.

      If you want tax free status as a foreign trust then you need show that you have paid tax in the foreign country or pay it in New Zealand (at the same rate as New Zealander’s do in NZ.)

      Setting up the beasties with the ability to hide identies is being complicit with tax evasion, money laundering etc.

      I don’t understand the payback to NZ. A referendums worth of legal and accounting fees are earned, but that’s it. The rest must be intangibles like why did Mike Sabin get appointed as CEO of a 5star resort development after he left Parliament.

      We need to be better than that. The medacity of Mr Key’s response shows he has a ethic and vision that is light years away from where centre NZ is.

      • Draco T Bastard 8.1.1

        I don’t understand the payback to NZ.

        Lord Ashcroft visited FJK back in 2008. Think he visited FJK again at a later stage.

        • Anne 8.1.1.1

          Yes, and from memory it was in an election year – 2011? Also – once again from memory – didn’t he refuse to tell the media what that second meeting with Ashcroft was all about?

          • Draco T Bastard 8.1.1.1.1

            He’s never said anything about what the meetings were about. He did try to tell us that the first one didn’t happen.

      • Colonial Viper 8.1.2

        I don’t understand the payback to NZ. A referendums worth of legal and accounting fees are earned, but that’s it.

        It is the transnational elite class scratching each others back, when they get into positions of power and influence.

        They have no loyalty to any nation state, and are not in the least interested in ‘return on investment’ for the country as a whole.

        • Draco T Bastard 8.1.2.1

          +1

        • Olwyn 8.1.2.2

          The referendum’s worth of accounting fees goes into the pockets of Key’s friends, so it brings cash into the economy in a way that doesn’t even slightly involve the ghastly peasants. And the practice advertises New Zealand as very welcoming to millionaires and billionaires in need of a bolt hole. From Key’s point of view, it ticks all the boxes.

          • Murray Simmonds 8.1.2.2.1

            Correct, Olwyn.

            ” . . . it brings cash into the economy . . . ”

            YES, and more importantly, from Key’s point of view, it helps to PUMP UP GDP. Its a good example of how essentially, useless NONPRODUCTIVE economic activity artificially inflates the GST figures to make the country look like its doing better that it really is.

            LOOK – GROWTH! (Well actually, its “just pretend” growth – but I won’t tell the minions that . .. . )

            • Draco T Bastard 8.1.2.2.1.1

              GST isn’t paid on financial transactions.

            • nadis 8.1.2.2.1.2

              You’re completely misunderstanding how this works.

              The irony is that the whole foreign trust business brings pretty much nothing into the NZ economy. The only income generated to any segment of NZ would be fees paid to lawyers and accountants which in the greater scheme things would have zero impact on GDP.

              In order for a trust to have non-domiciled status in NZ the beneficiaries of then trust cannot live here so that means they cant spend any money here. If the IRD had any suspicion that a NZ taxpayer was hiding assets with a NZ based trust and trying to use the foreing exemption rules, then you would see some pretty swift visits to homes, law firms and accountants by humourless middle-aged men from Wellington.

              And the assets of the trust can not be in any part of the NZ financial system – not in NZ banks, the sharemarket, residential property or any other form of asset. So there really is no impact in GDP beyond fees paid to a few Shortland Street lawyers.

              That’s also why you won’t see any NZ names involved in NZ domiciled trusts. You may see them doing transactions through other jurisdictions but you won’t see them using NZ trusts via an offshore provide like Mossack Fonseca. I suspect any similar business done by kiwis would tend to be via Guernsey/Jersey by way of Swiss private banks. That’s a more well traveled route.

      • nadis 8.1.3

        “If you want tax free status as a foreign trust then you need show that you have paid tax in the foreign country or pay it in New Zealand (at the same rate as New Zealander’s do in NZ.)”

        No. If you want tax free status you merely have to meet 2 criteria:

        – the beneficiary of any trust is not a NZ tax resident
        – all income in the trust is sourced from outside NZ, no assets can be held in NZ

        There is no check that the trust pays tax elsewhere.

  8. Henry Filth 9

    Great to see some sensible commentary on this issue. Finally.

    All kudos to The Standard for publishing it.

  9. Nick K 10

    These foreign parasites besmirching our country and not paying their fair share of tax, undoubtedly laundered money in most circumstances.

    Who would ever allow this in the first place?

    Oh hang on, now that I’ve posed the question…….

  10. RedLogix 11

    Can’t link to it because it will be geo-blocked, but ABC Four Corners has a belter on this tonight.

  11. Tricledrown 12

    John Key is a financial terrorist supporter and enabler.
    These trust’s are connected to North Korea Putin.
    Assad bank robberies.etc etc.
    David Cameron’s grand father set up the company.

  12. Tautuhi 13

    Money laundering through Trusts is similar to drug dealers cleansing money through the Casino, however different people have different views on what is wrong and what is right?

    It is interesting the people ending up here in NZ and where their original sources of funding/earnings have originated?

  13. Chooky 14

    This interview is interesting from Kathryn Ryan

    ‘Wealth Management researcher on Panama Papers’

    http://www.radionz.co.nz/national/programmes/ninetonoon/audio/201795957/wealth-management-researcher-on-panama-papers

    “As the ripples from the biggest leak in journalistic history continue to spread, academic Brooke Harrington – who spent the better part of a decade investigating wealth management – says the corruption goes well beyond Mossack Fonseca.”

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    In April, 17,656 people left Aotearoa-NZ to live overseas, averaging 588 a day, with just over half of those likely to have gone to Australia. Photo: Photo: Lynn Grieveson / The KākāTL;DR: My six things to note in Aotearoa-NZ’s political economy around housing, climate and poverty on Thursday, June 13 ...
    The KakaBy Bernard Hickey
    4 hours ago
  • Our guide to having your say on the draft RLTP 2024
    Auckland’s draft Regional Land Transport Plan (RLTP) 2024 is open for feedback – and you only have until Monday 17 June to submit. Do it! Join the thousands of Aucklanders who are speaking up for wise strategic investment that will dig us out of traffic and give us easy and ...
    Greater AucklandBy Connor Sharp
    6 hours ago
  • The China puzzle
    Chinese Premier Li Qiang arrives in Wellington today for a three-day visit to the country. The visit will take place amid uncertainty about the future of the New Zealand-China relationship. Li hosted a formal welcome and then lunch for then-Prime Minister Chris Hipkins in Beijing a year ago. The pair ...
    PolitikBy Richard Harman
    9 hours ago
  • Fossil fuels are shredding our democracy
    This is a re-post of an article from the Climate Brink by Andrew Dessler published on June 3, 2024. I have an oped in the New York Times (gift link) about this. For a long time, a common refrain about the energy transition was that renewable energy needed to become ...
    14 hours ago
  • Life at 20 kilometres an hour
    We are still in France, getting from A to B.Possibly for only another week, though; Switzerland and Germany are looming now. On we pedal, towards Budapest, at about 20 km per hour.What are are mostly doing is inhaling a country, loving its ways and its food. Rolling, talking, quietly thinking. ...
    More Than A FeildingBy David Slack
    21 hours ago
  • Hipkins is still useless
    The big problem with the last Labour government was that they were chickenshits who did nothing with the absolute majority we had given them. They governed as if they were scared of their own shadows, afraid of making decisions lest it upset someone - usually someone who would never have ...
    No Right TurnBy Idiot/Savant
    21 hours ago
  • Exercising with the IDF.
    This morning I did something I seldom do, I looked at the Twitter newsfeed. Normally I take the approach of something that I’m not sure is an American urban legend, or genuinely something kids do over there. The infamous bag of dog poo on the front porch, set it on ...
    Nick’s KōreroBy Nick Rockel
    1 day ago
  • Helm Hammerhand Anime: First Pictures and an Old English ‘Hera’
    We have some news on the upcoming War of the Rohirrim anime. It will apparently be two and a half hours in length, with Peter Jackson as Executive Producer, and Helm’s daughter Hera will be the main character. Also, pictures: The bloke in the middle picture is Freca’s ...
    1 day ago
  • Farmers get free pass on climate AND get subsidies
    The cows will keep burping and farting and climate change will keep accelerating - but farmers can stop worrying about being included in the ETS. Photo: Lynn Grieveson / The KākāTL;DR: My six things to note in Aotearoa-NZ’s political economy around housing, climate and poverty on Wednesday, June 12 were:The ...
    The KakaBy Bernard Hickey
    1 day ago
  • Six ideas to secure Te Huia’s Future
    This is a guest post by our friend Darren Davis. It originally appeared on his excellent blog, Adventures in Transitland, which features “musings about public transport and other cool stuff in Aotearoa/ New Zealand and around the globe.” With Te Huia now having funding secure through to 2026, now is ...
    Greater AucklandBy Darren Davis
    1 day ago
  • The methane waka sinks
    In some ways, there may be less than meets the eye to the Government announcement yesterday that the He Waka Eke Noa proposal for farmers to pay for greenhouse gas emissions has been scrapped. The spectre of farmers still having to pay at some point in the future remains. That, ...
    PolitikBy Richard Harman
    1 day ago
  • At a glance – Does positive feedback necessarily mean runaway warming?
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    2 days ago
  • Climate Change: Farmers get what they wanted – for now
    Since entering office, National has unravelled practically every climate policy, leaving us with no effective way of reducing emissions or meeting our emissions budgets beyond magical thinking around the ETS. And today they've announced another step: removing agriculture entirely. At present, following the complete failure of he waka eka noa, ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • Presumed Innocent?
    The blue billionaireDistraction no interactionOr movement outside these glazed over eyesThe new great divideFew fight the tide to be glorifiedBut will he be satisfied?Can we accept this without zoom?The elephant in the roomNot much happens in politics on a Monday. Bugger all in fact. Although yesterday Christopher Luxon found he ...
    Nick’s KōreroBy Nick Rockel
    2 days ago
  • Gordon Campbell on our doomed love affair with oil and gas
    What if New Zealand threw a fossil fuel party, and nobody came? On the weekend, Resources Minister Shane Jones sent out the invitations and strung up the balloons, but will anyone really want to invest big time in resuming oil and gas exploration in our corner of the planet? Yes, ...
    WerewolfBy lyndon
    2 days ago
  • Building better housing insights
    This is a guest post by Meredith Dale, senior urban designer and strategist at The Urban Advisory. There’s a saying that goes something like: ‘what you measure is what you value’. An RNZ article last week claimed that Auckland was ‘hurting’ because of a more affordable supply of homes, particularly townhouses ...
    Greater AucklandBy Guest Post
    2 days ago
  • Putin would be proud of them
    A Prime Minister directs his public service to inquire into the actions of the opposition political party which is his harshest critic. Something from Orban's Hungary, or Putin's Russia? No, its happening right here in Aotearoa: Prime Minister Christopher Luxon has announced the Public Service Commission will launch an ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • Resources for debunking common solar and wind myths
    This is a repost from a Yale Climate Connections article by SueEllen Campbell published on June 3, 2024. The articles listed can help you tell fact from fiction when it comes to solar and wind energy. Some statements you hear about solar and wind energy are just plain false. ...
    3 days ago
  • Juggernaut
    Politics were going on all around us yesterday, and we barely noticed, rolling along canal paths, eating baguettes. It wasn’t until my mate got to the headlines last night that we learned there had been a dismayingly strong far right result in the EU elections and Macron had called a ...
    More Than A FeildingBy David Slack
    3 days ago
  • Numbers Game.
    Respect Existence, Or Expect Resistance? There may well have been 50,000 pairs of feet “Marching For Nature” down Auckland’s Queen Street on Saturday afternoon, but the figure that impresses the Coalition Government is the 1,450,000 pairs of Auckland feet that were somewhere else.IN THE ERA OF DRONES and Artificial Intelligence, ...
    3 days ago
  • Media Link: AVFA on post-colonial blowback.
    Selwyn Manning and I discuss varieties of post colonial blowback and the implications its has for the rise of the Global South. Counties discussed include Palestine/Israel, France/New Caledonia, England/India, apartheid/post-apartheid South Africa and post-colonial New Zealand. It is a bit … Continue reading ...
    KiwipoliticoBy Pablo
    3 days ago
  • Policy by panic
    Back in March, Ombudsman Peter Boshier resigned when he hit the statutory retirement age of 72, leaving the country in the awkward (and legally questionable) position of having him continue as a temporay appointee. It apparently took the entire political system by surprise - as evinced by Labour's dick move ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • PSA: NZ's Richest Company, Zuru, Sucks
    Hi,Today the New Zealand press is breathlessly reporting that the owners of toy company Zuru are officially New Zealand’s wealthiest people: Mat and Nick Mowbray worth an estimated $20 billion between them.While the New Zealand press loses its shit celebrating this Kiwi success story, this is a Webworm reminder that ...
    David FarrierBy David Farrier
    3 days ago
  • Bernard's Dawn Chorus and pick 'n' mix for Monday, June 10
    TL;DR: The six things to note in Aotearoa-NZ’s political economy around housing, climate and poverty in the past day to 8:36 pm on Monday, June 10 were:20,000 protested against the Fast-track approval bill on Saturday in Auckland, but PM Christopher Luxon says ‘sorry, but not sorry’ about the need for ...
    The KakaBy Bernard Hickey
    3 days ago
  • In Defence of Kāinga Ora
    Given the headlines around the recent findings of the ‘independent’ review of Kāinga Ora by Bill English, you might assume this post will be about social housing, Kāinga Ora’s most prominent role. While that is indeed something that requires defending, I want to talk about the other core purpose of ...
    Greater AucklandBy Connor Sharp
    3 days ago
  • Baby You're A Rich Man
    “How does it feel to beOne of the beautiful peopleNow that you know who you areWhat do you want to beAnd have you traveled very far?Far as the eye can see”Yesterday the ACT party faithful were regaled with craven boasts, sneers, and demands for even more at their annual rally.That ...
    Nick’s KōreroBy Nick Rockel
    3 days ago
  • Stopping a future Labour government from shutting down gas exploration
    A defiant Resources Minister Shane Jones has responded to Saturday’s environmental protests by ending Labour’s offshore oil exploration ban and calling for long-term contracts with any successful explorers. The purpose would be to prevent a future Labour Government from reversing any licence the explorers might hold. Jones sees a precedent ...
    PolitikBy Richard Harman
    3 days ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #23
    A listing of 32 news and opinion articles we found interesting and shared on social media during the past week: Sun, June 2, 2024 thru Sat, June 8, 2024. Story of the week Our Story of the Week is Yale Climate Connection's Resources for debunking common solar and wind myths, by ...
    4 days ago
  • Fission by the river
    This is where we ate our lunch last Wednesday. Never mind your châteaux and castles and whatnot, we like to enjoy a baguette in the shadow of a nuclear power plant; a station that puts out more than twice as much as Manapouri using nothing more than tiny atoms to bring ...
    More Than A FeildingBy David Slack
    4 days ago
  • Fact Brief – Is the ocean acidifying?
    Skeptical Science is partnering with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. This fact brief was written by John Mason in collaboration with members from the Gigafact team. You can submit claims you think need checking via the tipline. Is the ocean acidifying? Acidification of oceans ...
    5 days ago
  • 20,000+ on Queen St.
    The largest protest I ever went on was in the mid 90s. There were 10,000 people there that day, and I’ve never forgotten it. An enormous mass of people, chanting together. Stretching block after block, bringing traffic to a halt.But I can’t say that’s the biggest protest I’ve ever been ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • Josh Drummond's Columns
    Hi there,I wanted to put all of Josh Drummond’s Webworm pieces all in one place. I love that he writes for Webworm — and all of these are a good read!David.Why Are So Many “Christians” Hellbent on Being Horrible?Why do so many objectively hideous people declare themselves “Christian”?Meeting the Master ...
    David FarrierBy David Farrier
    5 days ago
  • Bernard’s Saturday soliloquy and weekend Pick ‘n’ Mix for June 8/9
    Photo: Lynn Grieveson / The KākāTL;DR: On reflection, the six things to note in Aotearoa-NZ’s political economy around housing, climate and poverty this week were:The Government-driven freeze in building new classrooms, local roads and water networks in order to save cash for tax cuts is frustrating communities facing massive population ...
    The KakaBy Bernard Hickey
    5 days ago
  • The no-vision thing
    Hello! Here comes the Saturday edition of More Than A Feilding, catching you up on the past somewhat interrupted week. Still on the move!Share Read more ...
    More Than A FeildingBy David Slack
    5 days ago
  • When Journalists are Disingenuous
    Hi,One of the things I like the most about Webworm is to be able to break down the media and journalism a little, and go behind the scenes.This is one of those times.Yesterday an email arrived in my inbox from journalist Jonathan Milne, who is managing editor at Newsroom.I don’t ...
    David FarrierBy David Farrier
    5 days ago
  • Me, elsewhere: Just say you’ll do the thing
    Wrote something over at 1/200 on a familiar theme of mine: The way we frame the economy as a separate, sacred force which must be sacrificed to, the way we talk about criminals as invaders who must be repelled, the constant othering of people on the benefit, people not in ...
    Boots TheoryBy Stephanie Rodgers
    6 days ago
  • A Voyage Among the Vandals: Accepted
    A nice bit of news today: my 4600-word historical fantasy-horror piece, A Voyage Among the Vandals, has been accepted by Phobica Books (https://www.phobicabooks.co.uk/books) for their upcoming Pirate Horror anthology, Shivering Timbers. This one is set in the Mediterranean, during the mid-fifth century AD. Notable for having one of history’s designated ...
    6 days ago
  • Ministerial conflicts of interest
    Since the National government came to power, it has been surrounded by allegations of conflicts of interest. Firstly, there's the fast-track law, which concentrates power in the hands of three Ministers, some of whom have received donations from companies whose projects they will be deciding on. Secondly, there's the close ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • The 2024 Budget Forecasts Are Gloomy Prognosis About The Next Three Years.
    There was no less razzamatazz about the 2024 Budget than about earlier ones. Once again the underlying economic analysis got lost. It deserves more attention.Just to remind you, the Budget Economic and Fiscal Update (BEFU), is the Treasury’s independent assessment and so can be analysed by other competent economists (although ...
    PunditBy Brian Easton
    6 days ago
  • A government that can't see twenty feet ahead
    There are two failings that consistently characterise a National government. One is a lack of imagination, the other is their willingness to look after their mates, no matter what harm it might do to everyone else.This is how we come to have thousands of enormous trucks carving up our roads. ...
    More Than A FeildingBy David Slack
    6 days ago
  • A post I hope is incorrect
    In May, we learned that National MP David MacLeod had "forgotten" to declare $178,000 in electoral donations. Filing a donation return which is false in any material particular is a crime, and the Electoral Commission has now referred MacLeod to police, since they're the only people who are allowed to ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • Māori Cannot Re-Write New Zealand’s Constitution By Stealth.
    The Kotahitanga Parliament 1897: A Māori Parliament – at least in the guise of a large and representative body dedicated to describing the shape of New Zealand’s future from a Māori perspective – would be a very good idea.THE DEMAND for a “Māori Parliament” needs to be carefully unpicked. Some Pakeha, ...
    6 days ago
  • Cowpats and Colonials.
    Dumbtown, is how my friend Gerard refers to people like ZB listeners - he’s not wrong.Normally on a Friday I start by looking at Mike Hosking’s moronic reckons of the week which he vomits down the throats of his audience like helpless baby birds in a nest, grateful for the ...
    Nick’s KōreroBy Nick Rockel
    6 days ago
  • Gordon Campbell on cutting the sick leave of vulnerable workers
    Should sick leave be part and parcel of the working conditions from Day One on the job, just like every other health and safety provision? Or should access to sick leave be something that only gradually accumulates, depending on how long a worker has been on the payroll? If enacted ...
    WerewolfBy lyndon
    6 days ago
  • Nobody Move: Ageing Boomers, Laurie & Les, Talk Politics.
    So long as we live in a democracy, economic policy can never be anything other than social-democratic.“HEH!”, snorted Laurie, as he waved his debit card over the EFTPOS machine. “Same price as last week. I guess budgets aren’t what they used to be.”“I wouldn’t know,” replied the young barman, wearily, ...
    6 days ago
  • In Search Of Unity.
    Kotahitanga: New Zealand’s future belongs to those who do not fear a nation carved out of unity and solidarity, and are willing to trust the carvers. Some New Zealanders will be required to step up, and others, perhaps for the first time in their lives, will be expected to step ...
    6 days ago
  • Weekly Roundup 7-June-2024
    Welcome to another Friday roundup! Here are some recent links and stories that caught our eye, perfectly timed for your watercooler discussions and weekend reading. As always feel free to share more in the comments. Our header image this week is by Patrick Reynolds, and shows Te Komititanga from above. ...
    Greater AucklandBy Greater Auckland
    6 days ago
  • The Hoon around the week to June 7
    As Workplace Relations and Safety Minister, ACT’s Brooke van Velden is fronting proposed changes to sick pay regulations and The Holiday Act. Photo: Lynn Grieveson / The KākāTL;DR: The podcast above of the weekly ‘hoon’ webinar for paying subscribers features talking with:The Kākā’s climate correspondent talking about the ...
    The KakaBy Bernard Hickey
    6 days ago
  • Did we boil the oceans by cutting pollution?
    Lowering aerosol emissions from shipping has altered clouds, with potentially drastic effects. Photo: Getty ImagesTL;DR: Here’s the top six news items of note in climate news for Aotearoa-NZ this week, and a discussion above between Bernard Hickey and The Kākā’s climate correspondent Cathrine Dyer:New evidence is increasingly pointing at efforts ...
    The KakaBy Bernard Hickey
    6 days ago
  • Skeptical Science New Research for Week #23 2024
    Open access notables Abrupt reduction in shipping emission as an inadvertent geoengineering termination shock produces substantial radiative warming, Yuan et al., Communications Earth & Environment: Human activities affect the Earth’s climate through modifying the composition of the atmosphere, which then creates radiative forcing that drives climate change. The warming effect ...
    7 days ago
  • Fragments
    The best observation I’ve read this week about the deep, profound harm Trump is doingTrump has hurled threats and smears at witnesses, jurors and the judge (including his family)... [he] has tried to intimidate witnesses and delegitimize the New York courts as corrupt. In continuing to incite his mob (that ...
    More Than A FeildingBy David Slack
    7 days ago
  • March for Nature
    Do do do do do do do doDo do do do do doDi di di di di di di di di di diNature enter me…In 2018 the Labour lead government banned new oil and gas exploration in Aotearoa. A change welcomed by those who care deeply for our environment and ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • Bernard’s Dawn Chorus and pick ‘n’ mix for Thursday, June 6
    The Transport Minister is trying to push through urgent legislation that would allow him to change emissions standards for car imports without approval from Parliament, after only consulting car importers. Photo: Lynn GrievesonTL;DR: Just as two major reports showed fossil fuel burning was warming the planet to dangerous levels and ...
    The KakaBy Bernard Hickey
    1 week ago
  • A Better Broadway: Act 2
    This is a guest post by reader Grant A, the second of a pair about how to fix Broadway. If you missed the beginning of the show, here’s the link to Act 1 from yesterday. Yesterday, I discussed changing traffic circulation around Broadway in Newmarket. This included implementing a car-free ...
    Greater AucklandBy Guest Post
    1 week ago
  • National breaks another health promise
    National has broken another manifesto health promise, apparently to save only $550,000. It will now train an additional 25 med students next year rather than the 50 it promised. This comes on top of the delays caused by National’s coalition partners in pushing ahead with the Waikato Medical School and ...
    PolitikBy Richard Harman
    1 week ago
  • Climate Adam: Coping as the world’s best known climate scientist
    This video includes conclusions of the creator climate scientist Dr. Adam Levy. It is presented to our readers as an informed perspective. Please see video description for references (if any). Katharine Hayhoe is quite possibly the world's most famous climate scientist. She's produced wide ranging research, and communicated climate change with ...
    1 week ago
  • SIS “evidence” isn’t, again
    Back in 2016, then-Internal Affairs Minister Peter Dunne cancelled a New Zealand woman's passport, claiming she was a terrorist. The basis for his decision was a secret briefing by the SIS, which claimed that if she was allowed to travel, the woman would "engage with individuals who encourage acts of ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • As Low As You Go
    Taking you as low as you goAs low as you goA sense of Déjà vu this morning. How many times have I begun a newsletter, “just when you thought they couldn’t go any lower…” Only for the groundhog to reappear, more pissed off than the day before.Another day with headlines ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • Bernard's Dawn Chorus and pick 'n' mix for Wednesday June 5
    TL;DR: The public health costs of human-caused air pollution in Aotearoa-NZ is estimated at $38.8 billion a year because it kills 3,300 people each year, which is almost ten times more than the death toll on roads from accidents. Yet the Ministry for the Environment has just one staff member ...
    The KakaBy Bernard Hickey
    1 week ago
  • A Better Broadway: Act 1
    This is the first of a two-part guest post by Grant A, a long time reader and commenter with a keen interest in all things urban, especially cycling and public transport. He’s been thinking about how to fix Broadway. Stay tuned for Act 2! Readers might remember the pre-Christmas traffic snarl-ups in ...
    Greater AucklandBy Guest Post
    1 week ago
  • Road trance
    Sometimes technology is your friend and sometimes it can’t be bothered with you. Once you’re away from home and your dependable wifi, well, there’s no telling what will happen. I’ve been going in and out of high-speed and low-speed no-speed Internet pockets all over England and France and look, I’m ...
    More Than A FeildingBy David Slack
    1 week ago
  • You Can't Undo Fake News
    Hi,I’ve been thinking a lot about Corey Harris, the 44-year old man who went viral after Zooming into his court appearance while driving. The headlines generated were basically all the same: “Man With Suspended Driver's License Dials Into Court Hearing While Driving”. The headlines said it all, and most people ...
    David FarrierBy David Farrier
    1 week ago
  • At a glance – CO2 is the main driver of climate change
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    1 week ago
  • Acting Prime Minister David Seymour.
    When it came to David Seymour, Jacinda got one thing right, and another wrong. What is the sacrilege, I hear you ask? In what world in relation to David Seymour was our Jacinda ever wrong?Subscribe nowAs you no doubt remember, and personally I think there should be some sort of ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • More democratic abuse from National
    "Abuse of democracy" seems to be the emerging theme of this government, with bills rammed through under urgency or given pathetically short select committee submission times seemingly designed to limit and undermine public engagement. And today we have another case, with the public given just nine days to submit on ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Gordon Campbell on the curse of being politically moderate about everything
    Nigel Farage’s initial reason for not standing in the British election – because he wanted to be a Trump adviser – never looked very convincing. His perfectly timed “change of mind” though, has won him extensive media coverage, and he’s now plunging into the election campaign as the rival candidate ...
    1 week ago
  • Bernard’s Dawn Chorus and pick ‘n’ mix for Tuesday, June 4
    Placards at a 2018 rally for better funding for new cancer drugs. National’s pre-election promise to do so may have won it votes, but the attempt to quietly drop the plan has now ignited a firestorm of protest. Photo: Lynn GrievesonTL;DR: The Government is now being engulfed in a firestorm ...
    The KakaBy Bernard Hickey
    1 week ago
  • Budget 2024 Highlights
    Last week the government delivered their first budget and while there’s been plenty of other discussion about the main aspects of it, I was particularly interested to look at what it meant for transport. Before getting into too much detail, the chart below shows at a high level where transport ...
    1 week ago
  • Jeff Masters and Bob Henson give us the low-down on the 2024 Atlantic hurricane season
    This is a re-post from Yale Climate Connections by Samantha Harrington (Background photo credit: NASA/NOAA GOES Project / CC BY 2.0 DEED) To kick off hurricane season, Yale Climate Connections editors Sara Peach and Sam Harrington sat down with meteorologists and Eye on the Storm writers Jeff Masters and Bob ...
    1 week ago
  • Bernard's pick 'n' mix for Monday, June 3
    TL;DR: The Tiwai Point aluminium smelter, which consumes over 15% of the motu’s renewable electricity, has struck a deal to stay open for another 20 years. This will delay Aotearoa-NZ’s transition to carbon zero and make it more expensive and unfair for the 100,000 households who currently can’t afford their ...
    The KakaBy Bernard Hickey
    1 week ago
  • maBaguette
    Today we rolled through troglodyte caves and ate a fresh roast chook by the river, the mighty Loire River, the still quite angry-looking Loire River. The Loire is not itself because it has been raining here for the last seven months without a break, the locals have been telling us, ...
    More Than A FeildingBy David Slack
    1 week ago
  • Empty Promises.
    Fighting out of the blue corner, wearing a pale pink jacket, a half hearted smile, and a lot of flack from the left and the right, it’s your Finance Minister - Nicola Willis.Her challenger will probe the Minister for answers. Armed with boyish charm and tricky questions, the last remaining ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #22
    A listing of 33 news and opinion articles we found interesting and shared on social media during the past week: Sun, May 26, 2024 thru Sat, June 1, 2024. Story of the week Sometimes one story is not enough. Our ongoing 2023-2024 experiences with lethal heatwaves, early wildfires and a threatening Atlantic hurricane season ...
    2 weeks ago

  • Ministry for Regulation targets red tape to keep farmers and growers competitive
    Regulation Minister David Seymour, Environment Minister Penny Simmonds, and Food Safety Minister Andrew Hoggard have today announced a regulatory sector review on the approval process for new agricultural and horticultural products.    “Red tape stops farmers and growers from getting access to products that have been approved by other OECD countries. ...
    BeehiveBy beehive.govt.nz
    35 mins ago
  • Government to reverse blanket speed limit reductions
    The Coalition Government will reverse Labour’s blanket speed limit reductions by 1 July 2025 through a new Land Transport Rule released for public consultation today, Transport Minister Simeon Brown says.  The draft speed limit rule will deliver on the National-ACT coalition commitment to reverse the previous government’s blanket speed limit ...
    BeehiveBy beehive.govt.nz
    3 hours ago
  • Chair appointments for NZSO, CNZ and NZ On Air
    Minister Paul Goldsmith is making major leadership changes within both his Arts and Media portfolios. “I am delighted to announce Carmel Walsh will be officially stepping into the role of Chair of the New Zealand Symphony Orchestra, having been acting Chair since April,” Arts Minister Paul Goldsmith says.  “Carmel is ...
    BeehiveBy beehive.govt.nz
    4 hours ago
  • Government focus on long-term food, fibre growth
    Food and fibre export revenue is tipped to reach $54.6 billion this year and hit a record $66.6b in 2028 as the Government focuses on getting better access to markets and cutting red tape, Agriculture Minister Todd McClay and Oceans and Fisheries Minister Shane Jones say. “This achievement is testament ...
    BeehiveBy beehive.govt.nz
    6 hours ago
  • Govt consulting on cutting red tape for exporters
    A new export exemption proposal for food businesses demonstrates the coalition Government’s commitment to reducing regulatory barriers for industry and increasing the value of New Zealand exports, which gets safe New Zealand food to more markets, says Food Safety Minister Andrew Hoggard.  “The coalition Government has listened to the concerns ...
    BeehiveBy beehive.govt.nz
    22 hours ago
  • New Zealand and Philippines elevating relationship
    New Zealand and Philippines are continuing to elevate our relationship, Foreign Minister Winston Peters says.   “The leaders of New Zealand and Philippines agreed in April 2024 to lift our relationship to a Comprehensive Partnership by 2026,” Mr Peters says. “Our visit to Manila this week has been an excellent ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Paid Parental Leave increase to help families
    Workplace Relations and Safety Minister, Brooke van Velden says paid parental leave increase from 1 July will put more money in the pockets of Kiwi parents and give them extra support as they take precious time off to bond with their newborns. The increase takes effect from 1 July 2024 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Defence increases UN Command commitment
    The number of New Zealand Defence Force (NZDF) personnel deployed to the Republic of Korea is increasing, Defence Minister Judith Collins and Foreign Minister Winston Peters announced today.  NZDF will deploy up to 41 additional personnel to the Republic of Korea, increasing the size of its contribution to the United ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New Zealand to attend 'Summit on Peace in Ukraine' in Switzerland
    New Zealand will be represented at the Summit on Peace in Ukraine by Minister Mark Mitchell in Switzerland later this week.    “New Zealand strongly supports Ukraine’s efforts to build a comprehensive, just, and lasting peace,” Foreign Minister Winston Peters says.   “Minister Mitchell is a senior Cabinet Minister and ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Big step forward for M.bovis programme
    Farmers’ hard work is paying off in the fight against Mycoplasma bovis (M. bovis) with the move to a national pest management plan marking strong progress in the eradication effort, says Biosecurity Minister Andrew Hoggard.  “The plan, approved by the Coalition Government, was proposed by the programme partners DairyNZ, Beef ...
    BeehiveBy beehive.govt.nz
    2 days ago
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