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? ”

  • Comments are now closed

  1. Aspasia 1
    5 April 2016 at 8:42 am

    “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
      5 April 2016 at 9:09 am

      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
    5 April 2016 at 8:57 am

    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
      5 April 2016 at 9:18 am

      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
        5 April 2016 at 10:07 am

        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
          5 April 2016 at 10:37 am

          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
      5 April 2016 at 9:23 am

      “Clean NZ Green”.

    • Draco T Bastard 2.3
      5 April 2016 at 9:44 am

      +1

      Good info.

    • Incognito 2.4
      5 April 2016 at 10:34 pm

      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
        6 April 2016 at 10:48 am

        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
          6 April 2016 at 10:43 pm

          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
      5 April 2016 at 11:19 pm

      “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
    5 April 2016 at 9:38 am

    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
      5 April 2016 at 9:54 am

      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
        5 April 2016 at 10:10 am

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

      • Draco T Bastard 3.1.2
        5 April 2016 at 10:33 am

        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
          5 April 2016 at 12:01 pm

          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
            5 April 2016 at 12:09 pm

            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
              5 April 2016 at 1:54 pm

              Such as?

              • One Anonymous Bloke …
                5 April 2016 at 2:16 pm

                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 …
                  5 April 2016 at 3:12 pm

                  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 …
                    5 April 2016 at 3:28 pm

                    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
            5 April 2016 at 6:18 pm

            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
            5 April 2016 at 8:07 pm

            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
          5 April 2016 at 11:47 pm

          “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
            6 April 2016 at 8:31 am

            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
            6 April 2016 at 9:32 am

            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
    5 April 2016 at 9:41 am

    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
      5 April 2016 at 9:45 am

      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
      5 April 2016 at 11:04 am

      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
        5 April 2016 at 2:50 pm

        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
          7 April 2016 at 4:01 pm

          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.

  6. Colonial Viper 6
    5 April 2016 at 10:04 am

    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%.

  7. shorts 7
    5 April 2016 at 10:25 am

    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
      5 April 2016 at 1:40 pm

      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.

  8. Policy Parrot 8
    5 April 2016 at 2:16 pm

    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
      5 April 2016 at 6:29 pm

      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
        5 April 2016 at 6:33 pm

        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
          5 April 2016 at 9:30 pm

          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
            5 April 2016 at 10:52 pm

            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
        5 April 2016 at 9:18 pm

        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
          5 April 2016 at 10:51 pm

          +1

        • Olwyn 8.1.2.2
          5 April 2016 at 10:52 pm

          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
            6 April 2016 at 7:07 am

            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
              6 April 2016 at 9:34 am

              GST isn’t paid on financial transactions.

            • nadis 8.1.2.2.1.2
              6 April 2016 at 10:16 am

              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
        6 April 2016 at 8:21 am

        “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.

  9. Henry Filth 9
    5 April 2016 at 2:43 pm

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

    All kudos to The Standard for publishing it.

  10. Nick K 10
    5 April 2016 at 5:16 pm

    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…….

  11. RedLogix 11
    5 April 2016 at 9:03 pm

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

  12. Tricledrown 12
    5 April 2016 at 9:33 pm

    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.

  13. Tautuhi 13
    6 April 2016 at 3:24 am

    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?

  14. Chooky 14
    6 April 2016 at 10:08 am

    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.”

Links to post

Recent Comments

Recent Posts

  • Determining the Engine Type in Your Car
    Identifying the engine type in your car is crucial for various reasons, including maintenance, repairs, and performance upgrades. Knowing the specific engine model allows you to access detailed technical information, locate compatible parts, and make informed decisions about modifications. This comprehensive guide will provide you with a step-by-step approach to ...
    Gareth’s WorldBy admin
    5 hours ago

  • How to Become a Race Car Driver: A Comprehensive Guide
    Introduction: The allure of racing is undeniable. The thrill of speed, the roar of engines, and the exhilaration of competition all contribute to the allure of this adrenaline-driven sport. For those who yearn to experience the pinnacle of racing, becoming a race car driver is the ultimate dream. However, the ...
    Gareth’s WorldBy admin
    5 hours ago

  • How Many Cars Are There in the World in 2023? An Exploration of Global Automotive Statistics
    Introduction Automobiles have become ubiquitous in modern society, serving as a primary mode of transportation and a symbol of economic growth and personal mobility. With countless vehicles traversing roads and highways worldwide, it begs the question: how many cars are there in the world? Determining the precise number is a ...
    Gareth’s WorldBy admin
    5 hours ago

  • How Long Does It Take for Car Inspection?
    Maintaining a safe and reliable vehicle requires regular inspections. Whether it’s a routine maintenance checkup or a safety inspection, knowing how long the process will take can help you plan your day accordingly. This article delves into the factors that influence the duration of a car inspection and provides an ...
    Gareth’s WorldBy admin
    5 hours ago

  • Who Makes Mazda Cars?
    Mazda Motor Corporation, commonly known as Mazda, is a Japanese multinational automaker headquartered in Fuchu, Aki District, Hiroshima Prefecture, Japan. The company was founded in 1920 as the Toyo Cork Kogyo Co., Ltd., and began producing vehicles in 1931. Mazda is primarily known for its production of passenger cars, but ...
    Gareth’s WorldBy admin
    5 hours ago

  • How Often to Replace Your Car Battery A Comprehensive Guide
    Your car battery is an essential component that provides power to start your engine, operate your electrical systems, and store energy. Over time, batteries can weaken and lose their ability to hold a charge, which can lead to starting problems, power failures, and other issues. Replacing your battery before it ...
    Gareth’s WorldBy admin
    5 hours ago

  • Can You Register a Car Without a License?
    In most states, you cannot register a car without a valid driver’s license. However, there are a few exceptions to this rule. Exceptions to the Rule If you are under 18 years old: In some states, you can register a car in your name even if you do not ...
    Gareth’s WorldBy admin
    5 hours ago

  • Mazda: A Comprehensive Evaluation of Reliability, Value, and Performance
    Mazda, a Japanese automotive manufacturer with a rich history of innovation and engineering excellence, has emerged as a formidable player in the global car market. Known for its reputation of producing high-quality, fuel-efficient, and driver-oriented vehicles, Mazda has consistently garnered praise from industry experts and consumers alike. In this article, ...
    Gareth’s WorldBy admin
    5 hours ago

  • What Are Struts on a Car?
    Struts are an essential part of a car’s suspension system. They are responsible for supporting the weight of the car and damping the oscillations of the springs. Struts are typically made of steel or aluminum and are filled with hydraulic fluid. How Do Struts Work? Struts work by transferring the ...
    Gareth’s WorldBy admin
    5 hours ago

  • What Does Car Registration Look Like: A Comprehensive Guide
    Car registration is a mandatory process that all vehicle owners must complete annually. This process involves registering your car with the Department of Motor Vehicles (DMV) and paying an associated fee. The registration process ensures that your vehicle is properly licensed and insured, and helps law enforcement and other authorities ...
    Gareth’s WorldBy admin
    5 hours ago

  • How to Share Computer Audio on Zoom
    Zoom is a video conferencing service that allows you to share your screen, webcam, and audio with other participants. In addition to sharing your own audio, you can also share the audio from your computer with other participants. This can be useful for playing music, sharing presentations with audio, or ...
    Gareth’s WorldBy admin
    9 hours ago

  • How Long Does It Take to Build a Computer?
    Building your own computer can be a rewarding and cost-effective way to get a high-performance machine tailored to your specific needs. However, it also requires careful planning and execution, and one of the most important factors to consider is the time it will take. The exact time it takes to ...
    Gareth’s WorldBy admin
    9 hours ago

  • How to Put Your Computer to Sleep
    Sleep mode is a power-saving state that allows your computer to quickly resume operation without having to boot up from scratch. This can be useful if you need to step away from your computer for a short period of time but don’t want to shut it down completely. There are ...
    Gareth’s WorldBy admin
    9 hours ago

  • What is Computer-Assisted Translation (CAT)?
    Introduction Computer-Assisted Translation (CAT) has revolutionized the field of translation by harnessing the power of technology to assist human translators in their work. This innovative approach combines specialized software with human expertise to improve the efficiency, accuracy, and consistency of translations. In this comprehensive article, we will delve into the ...
    Gareth’s WorldBy admin
    9 hours ago

  • iPad vs. Tablet Computers A Comprehensive Guide to Differences
    In today’s digital age, mobile devices have become an indispensable part of our daily lives. Among the vast array of portable computing options available, iPads and tablet computers stand out as two prominent contenders. While both offer similar functionalities, there are subtle yet significant differences between these two devices. This ...
    Gareth’s WorldBy admin
    9 hours ago

  • How Are Computers Made?
    A computer is an electronic device that can be programmed to carry out a set of instructions. The basic components of a computer are the processor, memory, storage, input devices, and output devices. The Processor The processor, also known as the central processing unit (CPU), is the brain of the ...
    Gareth’s WorldBy admin
    9 hours ago

  • How to Add Voice Memos from iPhone to Computer
    Voice Memos is a convenient app on your iPhone that allows you to quickly record and store audio snippets. These recordings can be useful for a variety of purposes, such as taking notes, capturing ideas, or recording interviews. While you can listen to your voice memos on your iPhone, you ...
    Gareth’s WorldBy admin
    9 hours ago

  • Why My Laptop Screen Has Lines on It: A Comprehensive Guide
    Laptop screens are essential for interacting with our devices and accessing information. However, when lines appear on the screen, it can be frustrating and disrupt productivity. Understanding the underlying causes of these lines is crucial for finding effective solutions. Types of Screen Lines Horizontal lines: Also known as scan ...
    Gareth’s WorldBy admin
    9 hours ago

  • How to Right-Click on a Laptop
    Right-clicking is a common and essential computer operation that allows users to access additional options and settings. While most desktop computers have dedicated right-click buttons on their mice, laptops often do not have these buttons due to space limitations. This article will provide a comprehensive guide on how to right-click ...
    Gareth’s WorldBy admin
    9 hours ago

  • Where is the Power Button on an ASUS Laptop?
    Powering up and shutting down your ASUS laptop is an essential task for any laptop user. Locating the power button can sometimes be a hassle, especially if you’re new to ASUS laptops. This article will provide a comprehensive guide on where to find the power button on different ASUS laptop ...
    Gareth’s WorldBy admin
    9 hours ago

  • How to Start a Dell Laptop: A Comprehensive Guide
    Dell laptops are renowned for their reliability, performance, and versatility. Whether you’re a student, a professional, or just someone who needs a reliable computing device, a Dell laptop can meet your needs. However, if you’re new to Dell laptops, you may be wondering how to get started. In this comprehensive ...
    Gareth’s WorldBy admin
    9 hours ago

  • Bryce Edwards: Serious populist discontent is bubbling up in New Zealand
    Two-thirds of the country think that “New Zealand’s economy is rigged to advantage the rich and powerful”. They also believe that “New Zealand needs a strong leader to take the country back from the rich and powerful”. These are just two of a handful of stunning new survey results released ...
    Democracy ProjectBy bryce.edwards
    9 hours ago

  • How to Take a Screenshot on an Asus Laptop A Comprehensive Guide with Detailed Instructions and Illu...
    In today’s digital world, screenshots have become an indispensable tool for communication and documentation. Whether you need to capture an important email, preserve a website page, or share an error message, screenshots allow you to quickly and easily preserve digital information. If you’re an Asus laptop user, there are several ...
    Gareth’s WorldBy admin
    9 hours ago

  • How to Factory Reset Gateway Laptop A Comprehensive Guide
    A factory reset restores your Gateway laptop to its original factory settings, erasing all data, apps, and personalizations. This can be necessary to resolve software issues, remove viruses, or prepare your laptop for sale or transfer. Here’s a step-by-step guide on how to factory reset your Gateway laptop: Method 1: ...
    Gareth’s WorldBy admin
    9 hours ago

  • The Folly Of Impermanence.
    “You talking about me?”  The neoliberal denigration of the past was nowhere more unrelenting than in its depiction of the public service. The Post Office and the Railways were held up as being both irremediably inefficient and scandalously over-manned. Playwright Roger Hall’s “Glide Time” caricatures were presented as accurate depictions of ...
    Bowalley Road
    12 hours ago

  • A crisis of ambition
    Roger Partridge  writes – When the Coalition Government took office last October, it inherited a country on a precipice. With persistent inflation, decades of insipid productivity growth and crises in healthcare, education, housing and law and order, it is no exaggeration to suggest New Zealand’s first-world status was ...
    Point of OrderBy poonzteam5443
    12 hours ago

  • Have 308 people in the Education Ministry’s Curriculum Development Team spent over $100m on a 60-p...
    Rob MacCulloch writes – In 2022, the Curriculum Centre at the Ministry of Education employed 308 staff, according to an Official Information Request. Earlier this week it was announced 202 of those staff were being cut. When you look up “The New Zealand Curriculum” on the Ministry of ...
    Point of OrderBy poonzteam5443
    12 hours ago

  • 'This bill is dangerous for the environment and our democracy'
    Chris Bishop’s bill has stirred up a hornets nest of opposition. Photo: Lynn Grieveson for The KākāTL;DR: The six things that stood out to me in Aotearoa’s political economy around housing, poverty and climate from the last day included:A crescendo of opposition to the Government’s Fast Track Approvals Bill is ...
    The KakaBy Bernard Hickey
    13 hours ago

  • The Bank of our Tamariki and Mokopuna.
    Monday left me brokenTuesday, I was through with hopingWednesday, my empty arms were openThursday, waiting for love, waiting for loveThe end of another week that left many of us asking WTF? What on earth has NZ gotten itself into and how on earth could people have voluntarily signed up for ...
    Nick’s KōreroBy Nick Rockel
    14 hours ago

  • The worth of it all
    Hello! Here comes the Saturday edition of More Than A Feilding, catching you up on the past week’s editions.State of humanity, 20242024, it feels, keeps presenting us with ever more challenges, ever more dismay.Do you give up yet? It seems to ask.No? How about this? Or this?How about this?Full story Share ...
    More Than A FeildingBy David Slack
    17 hours ago

  • What is the Hardest Sport in the World?
    Determining the hardest sport in the world is a subjective matter, as the difficulty level can vary depending on individual abilities, physical attributes, and experience. However, based on various factors including physical demands, technical skills, mental fortitude, and overall accomplishment, here is an exploration of some of the most challenging ...
    Gareth’s WorldBy admin
    19 hours ago

  • What is the Most Expensive Sport?
    The allure of sport transcends age, culture, and geographical boundaries. It captivates hearts, ignites passions, and provides unparalleled entertainment. Behind the spectacle, however, lies a fascinating world of financial investment and expenditure. Among the vast array of competitive pursuits, one question looms large: which sport carries the hefty title of ...
    Gareth’s WorldBy admin
    19 hours ago

  • Pickleball On the Cusp of Olympic Glory
    Introduction Pickleball, a rapidly growing paddle sport, has captured the hearts and imaginations of millions around the world. Its blend of tennis, badminton, and table tennis elements has made it a favorite among players of all ages and skill levels. As the sport’s popularity continues to surge, the question on ...
    Gareth’s WorldBy admin
    20 hours ago

  • The Origin and Evolution of Soccer Unveiling the Genius Behind the World’s Most Popular Sport
    Abstract: Soccer, the global phenomenon captivating millions worldwide, has a rich history that spans centuries. Its origins trace back to ancient civilizations, but the modern version we know and love emerged through a complex interplay of cultural influences and innovations. This article delves into the fascinating journey of soccer’s evolution, ...
    Gareth’s WorldBy admin
    20 hours ago

  • How Much to Tint Car Windows A Comprehensive Guide
    Tinting car windows offers numerous benefits, including enhanced privacy, reduced glare, UV protection, and a more stylish look for your vehicle. However, the cost of window tinting can vary significantly depending on several factors. This article provides a comprehensive guide to help you understand how much you can expect to ...
    Gareth’s WorldBy admin
    20 hours ago

  • Why Does My Car Smell Like Gas? A Comprehensive Guide to Diagnosing and Fixing the Issue
    The pungent smell of gasoline in your car can be an alarming and potentially dangerous problem. Not only is the odor unpleasant, but it can also indicate a serious issue with your vehicle’s fuel system. In this article, we will explore the various reasons why your car may smell like ...
    Gareth’s WorldBy admin
    20 hours ago

  • How to Remove Tree Sap from Car A Comprehensive Guide
    Tree sap can be a sticky, unsightly mess on your car’s exterior. It can be difficult to remove, but with the right techniques and products, you can restore your car to its former glory. Understanding Tree Sap Tree sap is a thick, viscous liquid produced by trees to seal wounds ...
    Gareth’s WorldBy admin
    20 hours ago

  • How Much Paint Do You Need to Paint a Car?
    The amount of paint needed to paint a car depends on a number of factors, including the size of the car, the number of coats you plan to apply, and the type of paint you are using. In general, you will need between 1 and 2 gallons of paint for ...
    Gareth’s WorldBy admin
    20 hours ago

  • Can You Jump a Car in the Rain? Safety Precautions and Essential Steps
    Jump-starting a car is a common task that can be performed even in adverse weather conditions like rain. However, safety precautions and proper techniques are crucial to avoid potential hazards. This comprehensive guide will provide detailed instructions on how to safely jump a car in the rain, ensuring both your ...
    Gareth’s WorldBy admin
    20 hours ago

  • Can taxpayers be confident PIJF cash was spent wisely?
    Graham Adams writes about the $55m media fund — When Patrick Gower was asked by Mike Hosking last week what he would say to the many Newstalk ZB callers who allege the Labour government bribed media with $55 million of taxpayers’ money via the Public Interest Journalism Fund — and ...
    Point of OrderBy gadams1000
    1 day ago

  • EGU2024 – An intense week of joining sessions virtually
    Note: this blog post has been put together over the course of the week I followed the happenings at the conference virtually. Should recordings of the Great Debates and possibly Union Symposia mentioned below, be released sometime after the conference ends, I'll include links to the ones I participated in. ...
    Skeptical Science
    1 day ago

  • Submission on “Fast Track Approvals Bill”
    The following was my submission made on the “Fast Track Approvals Bill”. This potential law will give three Ministers unchecked powers, un-paralled since the days of Robert Muldoon’s “Think Big” projects.The submission is written a bit tongue-in-cheek. But it’s irreverent because the FTAB is in itself not worthy of respect. ...
    Frankly SpeakingBy Frank Macskasy
    1 day ago

  • The Case for a Universal Family Benefit
    One Could Reduce Child Poverty At No Fiscal CostFollowing the Richardson/Shipley 1990 ‘redesign of the welfare state’ – which eliminated the universal Family Benefit and doubled the rate of child poverty – various income supplements for families have been added, the best known being ‘Working for Families’, introduced in 2005. ...
    PunditBy Brian Easton
    1 day ago

  • A who’s who of New Zealand’s dodgiest companies
    Submissions on National's corrupt Muldoonist fast-track law are due today (have you submitted?), and just hours before they close, Infrastructure Minister Chris Bishop has been forced to release the list of companies he invited to apply. I've spent the last hour going through it in an epic thread of bleats, ...
    No Right TurnBy Idiot/Savant
    1 day ago

  • On Lee’s watch, Economic Development seems to be stuck on scoring points from promoting sporting e...
    Buzz from the Beehive A few days ago, Point of Order suggested the media must be musing “on why Melissa is mute”. Our article reported that people working in the beleaguered media industry have cause to yearn for a minister as busy as Melissa Lee’s ministerial colleagues and we drew ...
    Point of OrderBy Bob Edlin
    1 day ago

  • New Zealand has never been closed for business
    1. What was The Curse of Jim Bolger?a. Winston Peters b. Soon after shaking his hand, world leaders would mysteriously lose office or shuffle off this mortal coilc. Could never shake off the Mother of All Budgetsd. Dandruff2. True or false? The Chairman of a Kiwi export business has asked the ...
    More Than A FeildingBy David Slack
    1 day ago

  • Stop the panic – we’ve been here before
    Jack Vowles writes – New Zealand is said to be suffering from ‘serious populist discontent’. An IPSOS MORI survey has reported that we have an increasing preference for strong leaders, think that the economy is rigged toward the rich and powerful, and political elites are ignoring ‘hard-working people’.  ...
    Point of OrderBy poonzteam5443
    1 day ago

  • Melissa Lee and the media: ending the quest
    Chris Trotter writes –  MELISSA LEE should be deprived of her ministerial warrant. Her handling – or non-handling – of the crisis engulfing the New Zealand news media has been woeful. The fate of New Zealand’s two linear television networks, a question which the Minister of Broadcasting, Communications ...
    Point of OrderBy Bob Edlin
    2 days ago

  • The Hoon around the week to April 19
    TL;DR: The podcast above features co-hosts and , along with regular guests Robert Patman on Gaza and AUKUS II, and on climate change.The six things that mattered in Aotearoa’s political economy that we wrote and spoke about via The Kākā and elsewhere for paying subscribers in the ...
    The KakaBy Bernard Hickey
    2 days ago

  • The ‘Humpty Dumpty’ end result of dismantling our environmental protections
    Policymakers rarely wish to make plain or visible their desire to dismantle environmental policy, least of all to the young. Photo: Lynn GrievesonTL;DR: Here’s the top five 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 ...
    The KakaBy Bernard Hickey
    2 days ago

  • Nicola's Salad Days.
    I like to keep an eye on what’s happening in places like the UK, the US, and over the ditch with our good mates the Aussies. Let’s call them AUKUS, for want of a better collective term. More on that in a bit.It used to be, not long ago, that ...
    Nick’s KōreroBy Nick Rockel
    2 days ago

  • Study sees climate change baking in 19% lower global income by 2050
    TL;DR: The global economy will be one fifth smaller than it would have otherwise been in 2050 as a result of climate damage, according to a new study by the Potsdam Institute for Climate Impact Research (PIK) and published in the journal Nature. (See more detail and analysis below, and ...
    The KakaBy Bernard Hickey
    2 days ago

  • Weekly Roundup 19-April-2024
    It’s Friday again. Here’s some of the things that caught our attention this week. This Week on Greater Auckland On Tuesday Matt covered at the government looking into a long tunnel for Wellington. On Wednesday we ran a post from Oscar Simms on some lessons from Texas. AT’s ...
    Greater AucklandBy Matt L
    2 days ago

  • Jack Vowles: Stop the panic – we’ve been here before
    New Zealand is said to be suffering from ‘serious populist discontent’. An IPSOS MORI survey has reported that we have an increasing preference for strong leaders, think that the economy is rigged toward the rich and powerful, and political elites are ignoring ‘hard-working people’.  The data is from February this ...
    Democracy ProjectBy bryce.edwards
    2 days ago

  • Clearing up confusion (or trying to)
    Foreign Minister Winston Peters is understood to be planning a major speech within the next fortnight to clear up the confusion over whether or not New Zealand might join the AUKUS submarine project. So far, there have been conflicting signals from the Government. RNZ reported the Prime Minister yesterday in ...
    PolitikBy Richard Harman
    2 days ago

  • How to Retrieve Deleted Call Log iPhone Without Computer
    How to Retrieve Deleted Call Log on iPhone Without a Computer: A Step–by–Step Guide Losing your iPhone call history can be frustrating, especially when you need to find a specific number or recall an important conversation. But before you panic, know that there are ways to retrieve deleted call logs on your iPhone, even without a computer. This guide will explore various methods, ranging from simple checks to utilizing iCloud backups and third–party applications. So, let‘s dive in and recover those lost calls! 1. Check Recently Deleted Folder: Apple understands that accidental deletions happen. That‘s why they introduced the “Recently Deleted“ folder for various apps, including the Phone app. This folder acts as a safety net, storing deleted call logs for up to 30 days before permanently erasing them. Here‘s how to check it: Open the Phone app on your iPhone. Tap on the “Recents“ tab at the bottom. Scroll to the top and tap on “Edit“. Select “Show Recently Deleted“. Browse the list to find the call logs you want to recover. Tap on the desired call log and choose “Recover“ to restore it to your call history. 2. Restore from iCloud Backup: If you regularly back up your iPhone to iCloud, you might be able to retrieve your deleted call log from a previous backup. However, keep in mind that this process will restore your entire phone to the state it was in at the time of the backup, potentially erasing any data added since then. Here‘s how to restore from an iCloud backup: Go to Settings > General > Reset. Choose “Erase All Content and Settings“. Follow the on–screen instructions. Your iPhone will restart and show the initial setup screen. Choose “Restore from iCloud Backup“ during the setup process. Select the relevant backup that contains your deleted call log. Wait for the restoration process to complete. 3. Explore Third–Party Apps (with Caution): ...
    Gareth’s WorldBy admin
    2 days ago

  • How to Factory Reset iPhone without Computer: A Comprehensive Guide to Restoring your Device
    Life throws curveballs, and sometimes, those curveballs necessitate wiping your iPhone clean and starting anew. Whether you’re facing persistent software glitches, preparing to sell your device, or simply wanting a fresh start, knowing how to factory reset iPhone without a computer is a valuable skill. While using a computer with ...
    Gareth’s WorldBy admin
    2 days ago

  • How to Call Someone on a Computer: A Guide to Voice and Video Communication in the Digital Age
    Gone are the days when communication was limited to landline phones and physical proximity. Today, computers have become powerful tools for connecting with people across the globe through voice and video calls. But with a plethora of applications and methods available, how to call someone on a computer might seem ...
    Gareth’s WorldBy admin
    2 days ago

  • Skeptical Science New Research for Week #16 2024
    Open access notables Glacial isostatic adjustment reduces past and future Arctic subsea permafrost, Creel et al., Nature Communications: Sea-level rise submerges terrestrial permafrost in the Arctic, turning it into subsea permafrost. Subsea permafrost underlies ~ 1.8 million km2 of Arctic continental shelf, with thicknesses in places exceeding 700 m. Sea-level variations over glacial-interglacial cycles control ...
    Skeptical Science
    2 days ago

  • Where on a Computer is the Operating System Generally Stored? Delving into the Digital Home of your ...
    The operating system (OS) is the heart and soul of a computer, orchestrating every action and interaction between hardware and software. But have you ever wondered where on a computer is the operating system generally stored? The answer lies in the intricate dance between hardware and software components, particularly within ...
    Gareth’s WorldBy admin
    2 days ago

  • How Many Watts Does a Laptop Use? Understanding Power Consumption and Efficiency
    Laptops have become essential tools for work, entertainment, and communication, offering portability and functionality. However, with rising energy costs and growing environmental concerns, understanding a laptop’s power consumption is more important than ever. So, how many watts does a laptop use? The answer, unfortunately, isn’t straightforward. It depends on several ...
    Gareth’s WorldBy admin
    2 days ago

  • How to Screen Record on a Dell Laptop A Guide to Capturing Your Screen with Ease
    Screen recording has become an essential tool for various purposes, such as creating tutorials, capturing gameplay footage, recording online meetings, or sharing information with others. Fortunately, Dell laptops offer several built-in and external options for screen recording, catering to different needs and preferences. This guide will explore various methods on ...
    Gareth’s WorldBy admin
    2 days ago

  • How Much Does it Cost to Fix a Laptop Screen? Navigating Repair Options and Costs
    A cracked or damaged laptop screen can be a frustrating experience, impacting productivity and enjoyment. Fortunately, laptop screen repair is a common service offered by various repair shops and technicians. However, the cost of fixing a laptop screen can vary significantly depending on several factors. This article delves into the ...
    Gareth’s WorldBy admin
    2 days ago

  • How Long Do Gaming Laptops Last? Demystifying Lifespan and Maximizing Longevity
    Gaming laptops represent a significant investment for passionate gamers, offering portability and powerful performance for immersive gaming experiences. However, a common concern among potential buyers is their lifespan. Unlike desktop PCs, which allow for easier component upgrades, gaming laptops have inherent limitations due to their compact and integrated design. This ...
    Gareth’s WorldBy admin
    2 days ago

  • Climate Change: Turning the tide
    The annual inventory report of New Zealand's greenhouse gas emissions has been released, showing that gross emissions have dropped for the third year in a row, to 78.4 million tons: All-told gross emissions have decreased by over 6 million tons since the Zero Carbon Act was passed in 2019. ...
    No Right TurnBy Idiot/Savant
    2 days ago

  • How to Unlock Your Computer A Comprehensive Guide to Regaining Access
    Experiencing a locked computer can be frustrating, especially when you need access to your files and applications urgently. The methods to unlock your computer will vary depending on the specific situation and the type of lock you encounter. This guide will explore various scenarios and provide step-by-step instructions on how ...
    Gareth’s WorldBy admin
    2 days ago

  • Faxing from Your Computer A Modern Guide to Sending Documents Digitally
    While the world has largely transitioned to digital communication, faxing still holds relevance in certain industries and situations. Fortunately, gone are the days of bulky fax machines and dedicated phone lines. Today, you can easily send and receive faxes directly from your computer, offering a convenient and efficient way to ...
    Gareth’s WorldBy admin
    2 days ago

  • Protecting Your Home Computer A Guide to Cyber Awareness
    In our increasingly digital world, home computers have become essential tools for work, communication, entertainment, and more. However, this increased reliance on technology also exposes us to various cyber threats. Understanding these threats and taking proactive steps to protect your home computer is crucial for safeguarding your personal information, finances, ...
    Gareth’s WorldBy admin
    2 days ago

  • Server-Based Computing Powering the Modern Digital Landscape
    In the ever-evolving world of technology, server-based computing has emerged as a cornerstone of modern digital infrastructure. This article delves into the concept of server-based computing, exploring its various forms, benefits, challenges, and its impact on the way we work and interact with technology. Understanding Server-Based Computing: At its core, ...
    Gareth’s WorldBy admin
    2 days ago

  • Vroom vroom go the big red trucks
    The absolute brass neck of this guy.We want more medical doctors, not more spin doctors, Luxon was saying a couple of weeks ago, and now we’re told the guy has seven salaried adults on TikTok duty. Sorry, doing social media. The absolute brass neck of it. The irony that the ...
    More Than A FeildingBy David Slack
    2 days ago

  • Jones finds $410,000 to help the government muscle in on a spat project
    Buzz from the Beehive Oceans and Fisheries Minister Shane Jones relishes spatting and eagerly takes issue with environmentalists who criticise his enthusiasm for resource development. He relishes helping the fishing industry too. And so today, while the media are making much of the latest culling in the public service to ...
    Point of OrderBy Bob Edlin
    2 days ago

  • Again, hate crimes are not necessarily terrorism.
    Having written, taught and worked for the US government on issues involving unconventional warfare and terrorism for 30-odd years, two things irritate me the most when the subject is discussed in public. The first is the Johnny-come-lately academics-turned-media commentators who … Continue reading → ...
    KiwipoliticoBy Pablo
    2 days ago

  • Despair – construction consenting edition
    Eric Crampton writes – Kainga Ora is the government’s house building agency. It’s been building a lot of social housing. Kainga Ora has its own (but independent) consenting authority, Consentium. It’s a neat idea. Rather than have to deal with building consents across each different territorial authority, Kainga Ora ...
    Point of OrderBy poonzteam5443
    2 days ago

  • Coalition promises – will the Govt keep the commitment to keep Kiwis equal before the law?
    Muriel Newman writes – The Coalition Government says it is moving with speed to deliver campaign promises and reverse the damage done by Labour. One of their key commitments is to “defend the principle that New Zealanders are equal before the law.” To achieve this, they have pledged they “will not advance ...
    Point of OrderBy poonzteam5443
    2 days ago

  • An impermanent public service is a guarantee of very little else but failure
    Chris Trotter writes –  The absence of anything resembling a fightback from the public servants currently losing their jobs is interesting. State-sector workers’ collective fatalism in the face of Coalition cutbacks indicates a surprisingly broad acceptance of impermanence in the workplace. Fifty years ago, lay-offs in the thousands ...
    Point of OrderBy poonzteam5443
    3 days ago

  • PM’s South East Asia mission does the business
    Prime Minister Christopher Luxon has completed a successful trip to Singapore, Thailand and the Philippines, deepening relationships and capitalising on opportunities. Mr Luxon was accompanied by a business delegation and says the choice of countries represents the priority the New Zealand Government places on South East Asia, and our relationships in ...
    BeehiveBy beehive.govt.nz
    15 hours ago

  • $41m to support clean energy in South East Asia
    New Zealand is demonstrating its commitment to reducing global greenhouse emissions, and supporting clean energy transition in South East Asia, through a contribution of NZ$41 million (US$25 million) in climate finance to the Asian Development Bank (ADB)-led Energy Transition Mechanism (ETM). Prime Minister Christopher Luxon and Climate Change Minister Simon Watts announced ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Minister releases Fast-track stakeholder list
    The Government is today releasing a list of organisations who received letters about the Fast-track applications process, says RMA Reform Minister Chris Bishop. “Recently Ministers and agencies have received a series of OIA requests for a list of organisations to whom I wrote with information on applying to have a ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Judicial appointments announced
    Attorney-General Judith Collins today announced the appointment of Wellington Barrister David Jonathan Boldt as a Judge of the High Court, and the Honourable Justice Matthew Palmer as a Judge of the Court of Appeal. Justice Boldt graduated with an LLB from Victoria University of Wellington in 1990, and also holds ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Education Minister heads to major teaching summit in Singapore
    Education Minister Erica Stanford will lead the New Zealand delegation at the 2024 International Summit on the Teaching Profession (ISTP) held in Singapore. The delegation includes representatives from the Post Primary Teachers’ Association (PPTA) Te Wehengarua and the New Zealand Educational Institute (NZEI) Te Riu Roa.  The summit is co-hosted ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Value of stopbank project proven during cyclone
    A stopbank upgrade project in Tairawhiti partly funded by the Government has increased flood resilience for around 7000ha of residential and horticultural land so far, Regional Development Minister Shane Jones says. Mr Jones today attended a dawn service in Gisborne to mark the end of the first stage of the ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Anzac commemorations, Türkiye relationship focus of visit
    Foreign Affairs Minister Winston Peters will represent the Government at Anzac Day commemorations on the Gallipoli Peninsula next week and engage with senior representatives of the Turkish government in Istanbul.    “The Gallipoli campaign is a defining event in our history. It will be a privilege to share the occasion ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Minister to Europe for OECD meeting, Anzac Day
    Science, Innovation and Technology and Defence Minister Judith Collins will next week attend the OECD Science and Technology Ministerial conference in Paris and Anzac Day commemorations in Belgium. “Science, innovation and technology have a major role to play in rebuilding our economy and achieving better health, environmental and social outcomes ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Comprehensive Partnership the goal for NZ and the Philippines
    Prime Minister Christopher Luxon held a bilateral meeting today with the President of the Philippines, Ferdinand Marcos Jr.  The Prime Minister was accompanied by MP Paulo Garcia, the first Filipino to be elected to a legislature outside the Philippines. During today’s meeting, Prime Minister Luxon and President Marcos Jr discussed opportunities to ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Government commits $20m to Westport flood protection
    The Government has announced that $20 million in funding will be made available to Westport to fund much needed flood protection around the town. This measure will significantly improve the resilience of the community, says Local Government Minister Simeon Brown. “The Westport community has already been allocated almost $3 million ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Taupō takes pole position
    The Government is proud to support the first ever Repco Supercars Championship event in Taupō as up to 70,000 motorsport fans attend the Taupō International Motorsport Park this weekend, says Economic Development Minister Melissa Lee. “Anticipation for the ITM Taupō Super400 is huge, with tickets and accommodation selling out weeks ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Cost of living support for low-income homeowners
    Local Government Minister Simeon Brown has announced an increase to the Rates Rebate Scheme, putting money back into the pockets of low-income homeowners.  “The coalition Government is committed to bringing down the cost of living for New Zealanders. That includes targeted support for those Kiwis who are doing things tough, such ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Government backing mussel spat project
    The Coalition Government is investing in a project to boost survival rates of New Zealand mussels and grow the industry, Oceans and Fisheries Minister Shane Jones has announced. “This project seeks to increase the resilience of our mussels and significantly boost the sector’s productivity,” Mr Jones says. “The project - ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Government focused on getting people into work
    Benefit figures released today underscore the importance of the Government’s plan to rebuild the economy and have 50,000 fewer people on Jobseeker Support, Social Development and Employment Minister Louise Upston says. “Benefit numbers are still significantly higher than when National was last in government, when there was about 70,000 fewer ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Clean energy key driver to reducing emissions
    The Government’s commitment to doubling New Zealand’s renewable energy capacity is backed by new data showing that clean energy has helped the country reach its lowest annual gross emissions since 1999, Climate Change Minister Simon Watts says. New Zealand’s latest Greenhouse Gas Inventory (1990-2022) published today, shows gross emissions fell ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Earthquake-prone buildings review brought forward
    The Government is bringing the earthquake-prone building review forward, with work to start immediately, and extending the deadline for remediations by four years, Building and Construction Minister Chris Penk says. “Our Government is focused on rebuilding the economy. A key part of our plan is to cut red tape that ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Thailand and NZ to agree to Strategic Partnership
    Prime Minister Christopher Luxon and his Thai counterpart, Prime Minister Srettha Thavisin, have today agreed that New Zealand and the Kingdom of Thailand will upgrade the bilateral relationship to a Strategic Partnership by 2026. “New Zealand and Thailand have a lot to offer each other. We have a strong mutual desire to build ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Government consults on extending coastal permits for ports
    RMA Reform Minister Chris Bishop and Transport Minister Simeon Brown have today announced the Coalition Government’s intention to extend port coastal permits for a further 20 years, providing port operators with certainty to continue their operations. “The introduction of the Resource Management Act in 1991 required ports to obtain coastal ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Inflation coming down, but more work to do
    Today’s announcement that inflation is down to 4 per cent is encouraging news for Kiwis, but there is more work to be done - underlining the importance of the Government’s plan to get the economy back on track, acting Finance Minister Chris Bishop says. “Inflation is now at 4 per ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • School attendance restored as a priority in health advice
    Refreshed health guidance released today will help parents and schools make informed decisions about whether their child needs to be in school, addressing one of the key issues affecting school attendance, says Associate Education Minister David Seymour. In recent years, consistently across all school terms, short-term illness or medical reasons ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Unnecessary bureaucracy cut in oceans sector
    Oceans and Fisheries Minister Shane Jones is streamlining high-level oceans management while maintaining a focus on supporting the sector’s role in the export-led recovery of the economy. “I am working to realise the untapped potential of our fishing and aquaculture sector. To achieve that we need to be smarter with ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Patterson promoting NZ’s wool sector at International Congress
    Associate Agriculture Minister Mark Patterson is speaking at the International Wool Textile Organisation Congress in Adelaide, promoting New Zealand wool, and outlining the coalition Government’s support for the revitalisation the sector.    "New Zealand’s wool exports reached $400 million in the year to 30 June 2023, and the coalition Government ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Removing red tape to help early learners thrive
    The Government is making legislative changes to make it easier for new early learning services to be established, and for existing services to operate, Associate Education Minister David Seymour says. The changes involve repealing the network approval provisions that apply when someone wants to establish a new early learning service, ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • RMA changes to cut coal mining consent red tape
    Changes to the Resource Management Act will align consenting for coal mining to other forms of mining to reduce barriers that are holding back economic development, Resources Minister Shane Jones says. “The inconsistent treatment of coal mining compared with other extractive activities is burdensome red tape that fails to acknowledge ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • McClay reaffirms strong NZ-China trade relationship
    Trade, Agriculture and Forestry Minister Todd McClay has concluded productive discussions with ministerial counterparts in Beijing today, in support of the New Zealand-China trade and economic relationship. “My meeting with Commerce Minister Wang Wentao reaffirmed the complementary nature of the bilateral trade relationship, with our Free Trade Agreement at its ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Prime Minister Luxon acknowledges legacy of Singapore Prime Minister Lee
    Prime Minister Christopher Luxon today paid tribute to Singapore’s outgoing Prime Minister Lee Hsien Loong.   Meeting in Singapore today immediately before Prime Minister Lee announced he was stepping down, Prime Minister Luxon warmly acknowledged his counterpart’s almost twenty years as leader, and the enduring legacy he has left for Singapore and South East ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • PMs Luxon and Lee deepen Singapore-NZ ties
    Prime Minister Christopher Luxon held a bilateral meeting today with Singapore Prime Minister Lee Hsien Loong. While in Singapore as part of his visit to South East Asia this week, Prime Minister Luxon also met with Singapore President Tharman Shanmugaratnam and will meet with Deputy Prime Minister Lawrence Wong.  During today’s meeting, Prime Minister Luxon ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Antarctica New Zealand Board appointments
    Foreign Minister Winston Peters has made further appointments to the Board of Antarctica New Zealand as part of a continued effort to ensure the Scott Base Redevelopment project is delivered in a cost-effective and efficient manner.  The Minister has appointed Neville Harris as a new member of the Board. Mr ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Finance Minister travels to Washington DC
    Finance Minister Nicola Willis will travel to the United States on Tuesday to attend a meeting of the Five Finance Ministers group, with counterparts from Australia, the United States, Canada, and the United Kingdom.  “I am looking forward to meeting with our Five Finance partners on how we can work ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Pet bonds a win/win for renters and landlords
    The coalition Government has today announced purrfect and pawsitive changes to the Residential Tenancies Act to give tenants with pets greater choice when looking for a rental property, says Housing Minister Chris Bishop. “Pets are important members of many Kiwi families. It’s estimated that around 64 per cent of New ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Long Tunnel for SH1 Wellington being considered
    State Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the Government has also asked NZ Transport Agency (NZTA) to consider and provide advice on a Long Tunnel option, Transport Minister Simeon Brown ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • New Zealand condemns Iranian strikes
    Prime Minister Christopher Luxon and Foreign Minister Winston Peters have condemned Iran’s shocking and illegal strikes against Israel.    “These attacks are a major challenge to peace and stability in a region already under enormous pressure," Mr Luxon says.    "We are deeply concerned that miscalculation on any side could ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Huge interest in Government’s infrastructure plans
    Hundreds of people in little over a week have turned out in Northland to hear Regional Development Minister Shane Jones speak about plans for boosting the regional economy through infrastructure. About 200 people from the infrastructure and associated sectors attended an event headlined by Mr Jones in Whangarei today. Last ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Health Minister thanks outgoing Health New Zealand Chair
    Health Minister Dr Shane Reti has today thanked outgoing Health New Zealand – Te Whatu Ora Chair Dame Karen Poutasi for her service on the Board.   “Dame Karen tendered her resignation as Chair and as a member of the Board today,” says Dr Reti.  “I have asked her to ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Roads of National Significance planning underway
    The NZ Transport Agency (NZTA) has signalled their proposed delivery approach for the Government’s 15 Roads of National Significance (RoNS), with the release of the State Highway Investment Proposal (SHIP) today, Transport Minister Simeon Brown says.  “Boosting economic growth and productivity is a key part of the Government’s plan to ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Navigating an unstable global environment
    New Zealand is renewing its connections with a world facing urgent challenges by pursuing an active, energetic foreign policy, Foreign Minister Winston Peters says.   “Our country faces the most unstable global environment in decades,” Mr Peters says at the conclusion of two weeks of engagements in Egypt, Europe and the United States.    “We cannot afford to sit back in splendid ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • NZ welcomes Australian Governor-General
    Prime Minister Christopher Luxon has announced the Australian Governor-General, His Excellency General The Honourable David Hurley and his wife Her Excellency Mrs Linda Hurley, will make a State visit to New Zealand from Tuesday 16 April to Thursday 18 April. The visit reciprocates the State visit of former Governor-General Dame Patsy Reddy ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Pseudoephedrine back on shelves for Winter
    Associate Health Minister David Seymour has announced that Medsafe has approved 11 cold and flu medicines containing pseudoephedrine. Pharmaceutical suppliers have indicated they may be able to supply the first products in June. “This is much earlier than the original expectation of medicines being available by 2025. The Government recognised ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • NZ and the US: an ever closer partnership
    New Zealand and the United States have recommitted to their strategic partnership in Washington DC today, pledging to work ever more closely together in support of shared values and interests, Foreign Minister Winston Peters says.    “The strategic environment that New Zealand and the United States face is considerably more ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Joint US and NZ declaration
    April 11, 2024 Joint Declaration by United States Secretary of State the Honorable Antony J. Blinken and New Zealand Minister of Foreign Affairs the Right Honourable Winston Peters We met today in Washington, D.C. to recommit to the historic partnership between our two countries and the principles that underpin it—rule ...
    BeehiveBy beehive.govt.nz
    1 week ago

Page generated in The Standard by Wordpress at 2024-04-20T12:13:36+00:00