Note: All news content is archived by year and accessed using the links below. Some older content may not be available - a general rule is the older the link, the less likely it is to be there. To search for information by topic rather than date, try our Alphabetical Site Index.

Monday 31st December - Employers can employ new staff on trial periods, as long as they specify in writing that the employee is on a trial period - now also referred to as a "probationary arrangement"

Friday 28th December - There was little change in the level of New Zealand economic activity last quarter. Gross domestic product increased 0.2 percent, following the strong growth recorded in the June quarter, up 1.8 percent. For the year ended September 2001 the economy grew 2.1 percent.

Thursday 27th December - The Health and Safety in Employment Amendment Bill currently before Parliament imposes a maximum $500,000 fine and two years' jail on employers who cause their workers stress.

Monday 24th December - Canadian Finance Minister Paul Martin last week reaffirmed that the 27% general corporate tax rate is legislated to decrease to 25% as of January 1, 2002. The small business rate remains at 21%.

Friday 21st December - Commerce Minister Paul Swain yesterday released the government's response to the Business Compliance Cost Panel's Report.

Thursday 20th December - We take this opportunity to wish all clients a Merry Christmas and Happy New Year. Our help desk continues to operate throughout the holiday period 8.30am to 5.00pm Monday to Friday, public holidays excepted.

Wednesday 19th December - This month's IRD Payroll News added.

Tuesday 18th December - Income thresholds for student loan repayments and interest write-offs will rise from next April, in line with projected adjustments to the domestic purposes benefit. The new thresholds were approved by Order in Council yesterday.

Monday 17th December - The Australian Taxation Office will prepare income tax returns for workers under a plan likely to be adopted next year by the Howard Government.

Friday 14th December - The routine use of computers in business is 50 years old this week. In February 1954 LEO took on the weekly calculation of the company's payroll, prompting an article in these pages.

Thursday 13th December - One of Christchurch's largest employers is facing fines of up to $75,000 after admitting two charges relating to the death of a worker.

Wednesday 12th December - They're fast, efficient and pragmatic. They're accessible, informal and they don't get bogged down in legal technicalities. And they crunch out solutions to seemingly intractable employment problems in a matter of weeks, if not days.

Tuesday 11th December - A bill bringing into effect the Government's recently announced paid parental leave scheme was introduced into Parliament today.

Monday 10th December - As a High Court case illustrates, it is important that company directors disclose when they contract with employees and creditors that they are doing so on behalf of a company.

Saturday 8th December - Argentina, struggling to find cash to pay its bills, seized about $3.5 billion of retirement savings, forcing private pension funds to transfer the money to a state bank to pay government pensions and wages.

Friday 7th December - Life will be easier for people who get into trouble with their taxes, under legislation before Parliament. The aim is to encourage taxpayers who get behind to contact Inland Revenue as soon as possible.

Thursday 6th December - What's in the future for investors - another roaring bull market or more upset stomach? Amazingly, the answer may come down to three simple factors. Here, the world's most celebrated investor talks about what really makes the market tick - and whether that ticking should make you nervous.

Wednesday 5th December - The Government has announced the ACC levy rates for next year with the self-employed and motorcyclists potentially the big losers. The earners' account increases slightly by 10 cents to $1.20

Tuesday 4th December - Tonight, after many drumrolls and much confusion, tens of thousands of families in New York will reach a five-year lifetime limit on federal welfare aid.

Monday 3rd December - An employer recently found himself held in contempt of Court for not paying an employee to attend jury service. When challenged in the High Court, the District Court agreed that the employer should not have been held in contempt because the Judge had got the law wrong.

Thursday 29th November - Australia's most reluctant taxpayer, barrister John Cummins, was excused from giving evidence in his Federal Court bankruptcy hearing yesterday due to his psychiatric problems.

Tuesday 27th November - The prescribed rate of interest used to calculate fringe benefit tax for low-interest, job- related loans has decreased from 7.69% to 7.19%, with effect from the quarter beginning 1 October 2001. The new rate was approved by Order in Council today.

Monday 26th November - The OECD has announced the topic of its 2003 Jan Francke Tax Research Award - "Understanding and predicting taxpayers' behavioural responses to actions by tax administrations". The competition is open to individuals whose submissions are based on original research.

Friday 23rd November - Despite a crackdown on avoidance, one in five NSW barristers owes an average of $100,000 in tax, the Australian Taxation Office has found.

Thursday 22nd November - Strong economic growth in 1999 and 2000 pushed up the ratio of tax revenue to GDP in most OECD countries. This year, as a global economic slowdown hits personal and corporate income-tax receipts, the figure is likely to slip. Between 1998 and 1999 the tax ratio rose by an average of 3.5 percentage points in OECD countries; it increased in 21 countries and fell in nine.

Wednesday 21st November - New Zealand First Leader, Rt Hon Winston Peters, has learned that Armourguard have been staffing the new anti-terrorist security force in Parliament with students who are working for free and are on work experience.

Tuesday 20th November - Interesting facts and figures from Inland Revenue about Student Loans covering the period 1 July 2001 to 30 September 2001

Monday 19th November - The number of advertised jobs is continuing to fall and is now 8% lower than the highs recorded in July.

Friday 16th November - The fall of Rome was fundamentally due to economic deterioration resulting from excessive taxation, inflation, and over-regulation. Higher and higher taxes failed to raise additional revenues because wealthier taxpayers could evade such taxes while the middle class - and its taxpaying capacity - were exterminated.

Thursday 15th November - The number of employer-subsidised superannuation schemes has slumped by more than two-thirds since 1990, prompting funds to call on the Government to remove expensive bureaucracy that has forced many schemes to close.

Wednesday 14th November - Inland Revenue's collection of the return-based residual claims levy for the ACC will cease from April next year, with the ACC itself taking over the collection. The levy is charged to employers and the self-employed to cover the "tail" of insurance costs of work injuries that occurred before July 1999 and non-work injuries before 1992. Inland Revenue will continue to collect the employee earner levy through the PAYE system, and to supply the ACC with information on taxpayers' earnings.

Tuesday 13th November - The holiday pay season is almost here. You may like to review our holiday pay entitlement tutorial and related links.

Monday 12th November - The September 2001 quarter Household Labour Force Survey showed minimal change in labour market conditions from the June 2001 quarter. Both the seasonally adjusted number of employed and those not in the labour force increased by 0.3 percent. The unemployment rate stayed the same at 5.2 percent, while the labour force participation rate also remained steady at 65.9 percent.

Friday 9th November - Taking effect on 1st April 2002 are changes made in the Child Support Amendment Bill passed by Parliament last week.

Thursday 8th November - The Government yesterday announced the introduction of 12 weeks' paid parental leave, up to a maximum of $325 a week, from 1 July 2002. Paid parental leave will be funded out of general taxation and administered by the Department of Labour. Inland Revenue will be contracted to process the payments to mothers.

Wednesday 7th November - Prime Minister Helen Clark has ruled out a legal change to four weeks' annual leave before the next election.

Tuesday 6th November - Tomorrow is closer than you think. Peter Drucker explains how it will differ from today, and what needs to be done to prepare for it.

Monday 5th November - Case law article added showing that when it comes to dismissal, attack is not always the best form of defence.

Friday 2nd November - The New Zealand Government today gave public notice of two draft Codes of Welfare for pigs and broiler chickens. This joins the already released Code of Recommendations and Minimum Standards for the Welfare of Ostrich and Emu.

Wednesday 31st October - This month's IRD Payroll News added.

Monday 29th October - More New Zealand employers than ever are using a free government service to check the criminal records of job-seekers.

Friday 26th October - Nearly $2 billion may have been spent promoting it worldwide, but 24 hours after Microsoft launched Windows XP it was selling like ... very cold cakes in Sydney today.

Wednesday 24th October - The Tax Review team released its Final Report today. They concluded that radical restructuring is not required.

Monday 22nd October - New Zealand businesses that feel burdened with compliance costs can take some cold comfort from a new OECD report - it shows they are actually much better off than businesses in other developed countries.

Friday 19th October - Police have been forced to stop using fixed speed cameras and laser guns in built-up areas after the High Court found a loophole in legislation governing their use.

Thursday 18th October - An exposure draft of rewritten parts of the Income Tax Act 1994 has been released for comment. The three-volume publication, which covers Parts A to E, definitions and consequential amendments, has been prepared by the project team of drafters and analysts responsible for rewriting the Act. The aim of the rewrite is to make the legislation easier for readers to use and understand, which has involved restructuring and reformatting it and using a plain language drafting style. Submissions on the rewritten legislation close on 30 November.

Tuesday 16th October - Tax experts in New Zealand are worrying about the effects on inward investment of the recently-announced Australian/US double tax treaty, which they fear will significantly tip the balance in favour of Australia for any inward investor trying to decide between the two countries as a base.

Monday 15th October - The Government has announced a decrease in the use-of-money interest rates on underpayments and overpayments of tax and duties. From 8 November the rate for underpayments decreases to 11.93% and that for overpayments to 4.83%.

Friday 5th October - Set your clocks forward one hour next Sunday 7th October. If staff are employed during the transition, our Daylight Saving and the Time Act 1974 section clarifies the situation.

Tuesday 2nd October - Labour costs rose by 1.8 per cent from the June 2000 quarter to the June 2001 quarter, according to latest figures from Statistics New Zealand. This increase follows a rise of 1.6 per cent from the June 1999 quarter to the June 2000 quarter. Detailed Commentary and Media Release.

Monday 1st October - Hackers, virus-writers and web site defacers would face life imprisonment without the possibility of parole under legislation proposed by the Bush Administration that would classify most computer crimes as acts of terrorism.

Wednesday 26th September - All too often, employees facing disciplinary action respond by going on the offensive by making allegations against their employer or managers. As a recent case shows, such a tactic can be disastrous as it may lead to an irretrievable breakdown in the employment relationship, providing grounds in itself for dismissal.

Monday 24th September - If you had purchased $1000 worth of Nortel Networks stock one year ago, it would now be worth $49. If you bought $1000 worth of Budweiser (the beer, not the stock, at $3.80 per six-pack) one year ago, drank all the beer, and traded in the cans for the nickel deposit, you would have $79. Those lucky Michigan residents who receive 10 cents per can would of course have $158."

Wednesday 19th September - It is now possible to get a Swiss bank account in 20 minutes with an initial deposit of approximately US$200 thanks to a new website. The only details required are credit card and bank account numbers, along with confirmation of age and home address.

Monday 17th September - This month's IRD Payroll News added.

Thursday 13th September - The Sexual Harassment Industry has a financial interest in expanding both the definition of sexual harassment and the application of policies against it. Thus, the definition of harassment has come to include behavior that seems trivial or unconnected to sexuality.

Monday 10th September - Case law article added reporting one of the first Employment Court decisions under the Employment Relations Act concerning the difference between an employee and contractor.

Friday 7th September - The IRD has changed the phone number of the IR File Help Desk from 0800 10 90 80 to 0800 473 829 or 0800 IRD TAX

Thursday 6th September - A judge hearing a claim against the Government by nine dumped Employment Tribunal members has suggested the group might have expected to remain in their jobs.

Wednesday 5th September - Total Inland Revenue tax receipts for the year to June 2001 rose by $2,015 million, 7.3%, to $29,518 million.

Monday 3rd September - A number of high-flying Sydney barristers are abusing the tax system. They repeatedly fail to meet tax demands, typically do not lodge returns, rack up debts of up to $2 million, and then seek shelter in bankruptcy, which wipes out their debts.

Friday 31st August - This month's IRD Payroll News added.

Monday 27th August - The prescribed rate of interest used to calculate fringe benefit tax for low-interest, employment-related loans has decreased from 7.95% to 7.69%, with effect from the quarter beginning 1 July 2001.

Friday 24th August - DONGGUAN, China. The two young women were strolling through a sterile factory zone in China's roaring Southeast, enjoying a rare day off. "Trade union?" they repeated, puzzled, when asked about workers' rights. "What's that?"

Thursday 23rd August - We recently added a page of links to all holiday pay information on the Ace Payroll site, and on the site of the Employment Relations Service.

Friday 17th August - A Government discussion document released this week contains the first of a series of proposals arising from the review of the compliance and penalty legislation in the Tax Administration Act.

Thursday 16th August - Many complaining agents do not want to be named because they are hoping MYOB might provide some service. One partner of a practice in Melbourne's south-east says that at July 30 he had not been able to lodge a single online tax return, but had lodged some returns on paper. Some firms have camped in MYOB offices to demand help, only to receive updated software that still does not work, he says.

Wednesday 15th August - Labour Department report released this week. The vast majority of complaints (77%) for the period concerned breaches of the Holidays Act - 51% of complaints related to annual holidays, 21% related to public holidays, and 5% related to special leave. The remaining main types of complaints related to adult minimum wage (10%) and application of the Wages Protection Act (6%). This is consistent with applications received over other periods.

Tuesday 14th August - But how much work the software does is not what makes it remarkable. What makes it remarkable is how well the software works. This software never crashes. It never needs to be re-booted. This software is bug-free. It is perfect, as perfect as human beings have achieved.

Monday 13th August - A group of Melbourne accountants has retained a legal firm to streamline communications with MYOB as the tax software crisis continues. Partner at Phillips Fox, Mr Nigel Preston, said the firm had opened what it hoped would be a "constructive dialogue" between MYOB and customers who have been affected by software problems.

Saturday 11th August - The Government is proposing to simplify and update the income tax rules applying to Maori organisations and businesses that manage Maori assets. The proposals are set out in a discussion document released yesterday.

Friday 10th August - Billionaire property magnate Mr Harry Triguboff has offered to pay the Australian Taxation Office about $200 million to settle one of the nation's biggest tax disputes.

Thursday 9th August - The Government is to introduce legislation to remove the six-month deadline for claiming tax rebates on donations to charities and payments for housekeeping and childcare, Revenue Minister Michael Cullen announced last week. It will be replaced by an eight-year period for claiming rebates in relation to a particular income year. The change will apply to donations and payments made in the 1999-2000, 2000-01 and subsequent income years.

Wednesday 8th August - The Commissioner of Inland Revenue has issued a determination in relation to honoraria paid to school trustees for attending board of trustee meetings.

Tuesday 7th August - They came from all over the state Tennessee. They waved flags and carried signs; they wore "No Income Tax" stickers, buttons and symbolic tea-bags. They cheered the speakers, gobbled down the free barbecue and hot dogs, and reveled in the knowledge that they were doing something constructive for their future, and that of their children.

Monday 6th August - The May 2001 quarter has shown an increase in employment as measured by full-time equivalent employees (FTEs). This follows relatively flat growth in February 2001 and is in line with a general pattern of employment growth evident since late 1999.

Friday 3rd August - Interesting facts and figures about Student Loans from Inland Revenue covering the period 1 April 2001 to 30 June 2001.

Thursday 2nd August - From this week de facto (including same sex) or married couples are able to contract out of the new Property (Relationships) Amendment Act 2001.

Tuesday 31st July - Ace Payroll version 3.15F released today. In this version we added a full year pop up calendar, and took time out to tidy up lots of internal non visual features.

Thursday 26th July - FAQ added showing how to allow a day in lieu.

Wednesday 25th July - We are often asked why, when using the As Per Act method of holiday pay calculation, only full days owing are shown on payslips rather than fractional days, preferably to two or three decimal places.

Tuesday 24th July - A recent Employment Relations Authority decision may force businesses to rethink how they engage contractors. The Authority has held a worker to be an employee even though the true intention of the parties, and widespread industry practice, classified him an independent contractor.

Monday 23rd July - Holiday pay tutorial added on annual compulsory closedowns.

Friday 20th July - Is this where New Zealand is heading? A host of new California employment laws have taken effect in the last six months.

Thursday 19th July - Case law article added concerning a personal grievance for loss of use of company car.

Wednesday 18th July - Prospects and Policies for the U.S. Economy: A Strategic View

Tuesday 17th July - Tutorial added on holiday pay entitlements.

Monday 16th July - Ace Payroll version 3.15E released today. In this version we converted all holiday pay methods to utilise our new style interface. Where possible we added step by step holiday pay instructions, and added additional reports to improve ease of use.

Friday 13th July - The Ministerial Panel on Business Compliance Costs this week released their final report.

Thursday 12th July - Today we updated the FAQ concerning invalid header errors returned by ir-File.

Wednesday 11th July - In the latest CCH Tax Forum, Chris Lindsay, tax director, Horwath Porter Wigglesworth Ltd (Auckland) addresses questions on qualifying companies and loss attributing qualifying companies.

Tuesday 10th July - One million Australian small business operators are being forced to sit a test set by Canberra bureaucrats that could effectively disqualify them from being a business.

Monday 9th July - The successor to ir-File, Inland Revenue's scrapped system for online filing of payroll records, will be pitched to thousands of small and medium-sized businesses next month in a bid to restore confidence in the Government's online taxation plans.

See also the Ace Payroll Submission to the Inquiry into the Powers and operations of the Inland Revenue Department May 1999.

Friday 6th July - The government's refusal to refund up to 100,000 self-employed New Zealanders who were over-charged for their ACC premiums last year, is nothing short of institutionalised theft, says ACT deputy leader Ken Shirley.

Thursday 5th July - Despite being awarded almost $110,000 in costs, a Wellington woman who won a landmark Employment Court case will not have received enough to cover the bill for pursuing the case.
See also our original report of this case.

Wednesday 4th July - A Wellington man with the intellectual ability of a child has been awarded more than $12,000 by the Employment Tribunal after it found he had been unfairly dismissed.

Tuesday 3rd July - Latest IRD Tax Information Bulletin - Employment Court awards for lost wages or other remuneration - employers' liability to make tax deductions. Public Ruling BR Pub 01/06

Monday 2nd July - John Howard promised to simplify the taxation system. But this week, as Australians contemplate the new financial year, the Tax Pack has never been more complex, and even the GST has been amended 1,800 times. Fia Cumming reports.

Friday 29th June - This is the time of year when all good Australians indulge in the hallowed traditional sport of cheating the Tax Office. As a sport, Pierpont has always rated this as more dangerous than bungee jumping.

Wednesday 27th June - The Government today released its latest tax policy discussion document, GST and imported services. The document looks at GST in light of developments in electronic commerce and the resulting increase in imported services since 1986. The main proposal is to charge GST on imports of services by registered persons making non-taxable supplies, by means of a 'reverse charge' mechanism.

Friday 22nd June - Case law article added again showing an employer must not wait for resolution of criminal charges before taking action.

Thursday 21st June - A series of legal defeats going as far as the Privy Council has not dimmed John George Russell's appetite for a fight with the IRD.

Wednesday 20th June - The Tax Review today released an issues paper that will form the basis of its second round of public submissions. The issues discussed in the paper include capital gains taxation; alcohol, tobacco and gambling taxes; taxation of 'income' from owner occupied housing; financial transactions tax; eco-taxes; personal and corporate tax rate scales; the taxation of different legal entities; and international tax issues.

Monday 18th June - The Government last week released its latest tax policy discussion document, Tax and charities. The discussion document sets out proposals for updating the definition of 'charitable purpose' and improving the accountability of charitable organisations that receive government assistance through the tax system.

Friday 15th June - The balance of power in the battle between the owners of capital and suppliers of labour lies with employees for the first time in a decade.

Wednesday 13th June - Ace Payroll version 3.15C released this week.

Tuesday 12th June - ACC employee caught helping himself to bogus compo : A public servant of 20 years standing has been jailed for paying himself $124,000 in false accident compensation claims.

Friday 8th June - New Zealand and Australia are facing what could escalate into their biggest constitutional crisis ever - an income tax revolt by ordinary taxpayers with the potential to bring down the current system of government.

Thursday 7th June - This month's IRD Payroll News added.

Friday 1st June - The rate of interest used to calculate fringe benefit tax for low-interest, employment-related loans has decreased from 8.5% to 7.95%, in line with market rates. The new rate applies from the quarter beginning 1 April 2001.

Thursday 31st May - The Aqaba zone, on the Red Sea, opened in February. Incentives in the zone include a 5 per cent flat income tax rate and no annual property taxes, capital gains taxes or social security charges. Privileges for foreign investors include long-term leasing of land that may extend to 100 years, and full exemption from custom duties and tariffs.

Wednesday 30th May - "The hard thing is that on my days off I have to earn $30 to clear $15, because it pushes me into the top marginal tax bracket. The interest is accruing faster than I can earn. I've got a little electrical business. I don't want to go bankrupt."

Monday 28th May - Labour Minister Margaret Wilson and Associate Labour Minister Laila Harre recently released the first reports of three advisory groups reporting to the government on the Holidays Act, equal employment opportunities and 'contracting out' arrangements.

Tuesday 22nd May - Case law article added concerning a woman discriminated against for not being Asian.

Thursday 17th May - The U.S. is backing away from a crackdown on global tax havens led by the Organization for Economic Co-operation and Development, Treasury Secretary Paul O'Neill said today.

Monday 14th May - The Australian government will cut taxes by more than A$5 billion in its budget later this month, while keeping the country's books balanced, said Treasurer Peter Costello. More than A$2 billion of the tax cuts will come from a reduction in the company tax rate to 30 percent from 34 percent.

Thursday 10th May - The government has released a discussion document aimed at simplifying the tax system and helping reduce stress on small business.

Friday 4th May - This month's IRD Payroll News added.

Thursday 26th April - Persistently demanding a written apology from his boss for assaulting him cost roofer his job, the Employment Court heard.

Tuesday 24th April - Special report from the Policy Advice Division of Inland Revenue on the GST treatment of tokens stamps and vouchers.

Thursday 19th April - Case law article added reporting the Employment Court decision to award a deceased worker's estate a record amount of compensation after he was unjustifiably dismissed and committed suicide.

Tuesday 17th April - Latest virus doing the rounds is W32.Magistr.24876 - full details available on the symantec web site. An automated fix is available at www.antivirus.com

Thursday 12th April - The full judgement for the case below is at Redrock Holdings Pty Ltd & Hotline Communications Ltd & Ors v Hinkley - essential reading for anyone in the computer software industry.

Tuesday 10th April - A young Melbourne programmer who lost intellectual property rights to his innovative software after a judgment in the Victorian Supreme Court this week, says he will not appeal.

Monday 9th April - This month's IRD Payroll News added.

Tuesday 3rd April - The Howard Government's failure to control an arrogant, ambitious and often incompetent bureaucracy that has its own tax reform agenda is largely to blame for Australia's tax reform debacle.

Thursday 29th March - Case law article added on who owns an employee's inventions.

Monday 19th March - A very informative press release explaining the details behind ACC overcharging.

Friday 16th March - FAQ updated answering the common help desk enquiry that tax has been calculated incorrectly by Ace Payroll.

Thursday 15th March - Case law article added with an example of the dismissal of an employee for misconduct that occurred outside of work.

Monday 12th March - The Isle of Man's standard tax rate is to come down from 14% to 12% - with the top rate reduced from 20% to 18% - for both individuals and businesses with effect from April 6 this year.

Thursday 8th March - The Minister of Labour, Margaret Wilson has announced the membership and terms of reference of three advisory committees which will develop new proposals for New Zealand workplace law and practice.

Tuesday 6th March - Case law article added showing that an employer cannot take retaliatory action against employees for claiming their employment rights.

Friday 2nd March - IRD Binding Ruling released on tax treatment of lease surrender payments received by a landlord.

Wednesday 28th February - This month's IRD Payroll News added.

Friday 23rd February - FAQ added on the timing of upgrade installation.

Wednesday 21st February - People with student loans won't have to start paying them back until they earn at least $15,132 a year, starting 1st April. The income threshold, up from $14,768, has been increased in line with routine adjustments to the domestic purposes benefit. Revenue Minister Michael Cullen and Associate Education Minister Steve Maharey said the threshold is aligned to the DPB to ensure student loan repayments are not deducted from most welfare benefits.

Monday 19th February - Case law article added on an Employment Court decision about redundancy and changes to working hours.

Friday 16th February - Latest Retail News added.

Thursday 15th February - Representatives of OECD governments have agreed on a number of important conclusions and recommendations that pave the way for greater certainty among businesses and consumers in relation to the taxation of electronic commerce.
See also the IRD Policy Advice Division's Interpretation.
For a different perspective see E-Commerce In The Isle of Man (be patient, very slow to load).

Tuesday 13th February - On April 1, the residual claims levy paid by employers drops from 40 cents to 35 cents per $100 of earnings. The earners premium falls from $1.30 to $1.10

Wednesday 7th February - A $550,000 settlement has been reached between the Inland Revenue Department and Jan and Murray Willis over their long running dispute with IRD.

Friday 2nd February - The Commissioner of Inland Revenue has released a determination setting the national standard costs for specified livestock for the 2000/2001 income year. These costs are used by livestock owners to value livestock on hand at the end of the income year where they have adopted the national standard cost (NSC) scheme to value any class of livestock.

Tuesday 30th January - Case law article added explaining the meaning of significant difference

Wednesday 24th January - "Bill Gates would be fabulously more wealthy if he had started Microsoft in Bermuda," says William Woods, chief executive of the Bermuda Stock Exchange. "He may have known a lot about computer programming when he started the company, but his ignorance about tax cost him a fortune."

Monday 22nd January - Tax Information Bulletin Vol 12 No 12

• Taxation GST and Miscellaneous Provisions Act 2000 00/39 and Taxation Annual Rates of Income Tax 2000-2001 Act 2000 00/40.
• Consultation on valuation of nursery plants.
• Fringe Benefit Tax - Prescribed rate of interest.
• Social Welfare Transitional Provisions Amendment Act 2000.
• Passive tracker funds ruling applications.
• Unsuccessful application for judicial review in relation to assessments by the Commissioner.
• Whether payments made to service stations in relation to trade tie agreements were capital or revenue.

Monday 15th January - The government has set ACC premiums at a rate which could lead to cuts in workers' pay and discourage employers taking on more staff, ACC chairman David Caygill fears.

Monday 8th January - Ascot Advisory Services assists with offshore company & foundation structures, offshore banking matters, residency & second passport matters, and other related services. Latest Newsletter

Note: All news content is archived by year and accessed using the links below. Some older content may not be available - a general rule is the older the link, the less likely it is to be there. To search for information by topic rather than date, try our Alphabetical Site Index.