Property, rentals and hiring attract greatest IRD scrutiny

(Image: NZME)

Tue, 15 Apr 2025

The Inland Revenue Department’s blitz on delinquent taxpayers since receiving a $29 million Budget boost to its coffers for tax compliance enforcement has reaped more than $600m in undeclared tax from taxpayers across all sources in the six-month period to December.While the Inland Revenue Department (IRD) can’t name the tardiest of payers, citing client confidentiality, its segment lead for significant enterprises, Tony Morris, revealed last week that half of that extra cash came from fewer than 10 audits.Coincidentally, figures al...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

World

US trade war raises cyber stakes with China

Security chiefs worry that rising economic pressure could result in further hacks.

The Wall Street Journal 10:00am

Primary Sector

Scales ups its stake in Shelby Foods by 7.5% for $41.3m

The company took a 60% stake in 2018.

Riley Kennedy 9:25am

Scales ups its stake in Shelby Foods by 7.5% for $41.3m

The Quiz Free

QuiznessDesk, Wednesday, April 16

Take a break and try our quiz.

The Quizmaster 9:15am

Sponsored

Go beyond reporting zero emissions

Clean energy that helps businesses and communities thrive

Meridian Energy

Sponsored

New life in property market

Tax rule changes are bringing back mum-and-dad investors.

Fletcher Living

More Economy

Finance

The cost of over-regulated banking: $10b to $14.4b a year

Critics claim a huge annual cost from 30 years of regulatory creep.

Pattrick Smellie 5:00am

Economy

Retail spending 'much weaker' than expected

Westpac senior economist Satish Ranchhod says retail spending in March was "much weaker than expected".The total value of electronic card spending, including in non-retail services and other non-retail categories, fell a seasonally-adjusted 1.49% to $9.08 billion in March from Fe...

Staff reporters 14 Apr 2025

Economy Opinion

Pattrick Smellie: The unlikely way Trump is helping

The Trump tariff blitz is creating political opportunity in unlikely places.

Pattrick Smellie 14 Apr 2025

Economy

Manufacturing sector keeping head above water

New Zealand’s manufacturing sector remained in expansionary territory for a third consecutive month, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI). The seasonally adjusted PMI for March was 53.2, down from 54.1 in February. A number above 50 m...

Rebecca Howard 11 Apr 2025

Property, rentals and hiring attract greatest IRD scrutiny

More Economy

Your company has a subscription

Team