New reports indicate over 9000 clubs, societies, trade associations and industry councils could be looking at a significant tax bill.

Inland Revenue has changed the way it interprets a law - and they're keen to crack down on businesses they believe are 'masquerading' as charities to reduce their taxes.

NZ Herald Wellington business editor Jenee Tibshraeny explains what this law change could mean going forward.

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New reports indicate over 9000 clubs, societies, trade associations and industry councils could be looking at a significant tax bill.
Inland Revenue has changed the way it interprets a law - and they're keen to crack down on businesses they believe are 'masquerading' as charities to reduce their taxes.
NZ Herald Wellington business editor Jenee Tibshraeny explains what this law change could mean going forward.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Jenee Tibshraeny: NZ Herald Wellington business editor on thousands of clubs, societies, trade associations and industry councils facing a significant tax bill

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/5f543824-fa30-4a61-920a-b290006caec5/transcript

Bill Gates is the latest big name in the tech sector to issue a warning about AI amid rising concerns.

Gates says the technology needs to be regulated and warns that AI can't keep going unchecked and that existing 'kill switches' aren't enough.

US correspondent Richard Arnold says Gates is calling for a better 'monitoring system' to stop AI from causing harm. 

LISTEN ABOVE

Bill Gates is the latest big name in the tech sector to issue a warning about AI amid rising concerns.
Gates says the technology needs to be regulated and warns that AI can't keep going unchecked and that existing 'kill switches' aren't enough.
US correspondent Richard Arnold says Gates is calling for a better 'monitoring system' to stop AI from causing harm.&nbsp;
LISTEN ABOVE

Richard Arnold: US correspondent on Bill Gates warning that AI growth can't keep 'going unchecked'

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/601ea22f-8047-436f-8305-b4d20163406d/transcript

Over in the UK, Prime Minister Andy Burnham has promised to bring 'stability' back to the UK's economy as Labour heads to Liverpool.

However, economic concerns like the Middle East conflict and rising energy prices are threatening to have a significant impact on UK households.

Business correspondent Vicky Pryce says interest rates in the UK are also quite high and the pressure's on for Burnham to bring down the debt.

LISTEN ABOVE

Over in the UK, Prime Minister Andy Burnham has promised to bring 'stability' back to the UK's economy as Labour heads to Liverpool.
However, economic concerns like the Middle East conflict and rising energy prices are threatening to have a significant impact on UK households.
Business correspondent Vicky Pryce says interest rates in the UK are also quite high and the pressure's on for Burnham to bring down the debt.
LISTEN ABOVE

Vicky Pryce: business correspondent on Andy Burnham's bid to fix the cost of living amid rising energy prices

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/718ecd94-5a05-4113-8c4c-b4d2014bb37c/transcript

There's a belief New Zealand First's proposal to slash the tax rate for small businesses could make a positive difference to our business landscape.  

The party's promising to lower the tax rate from 28% to 20% for firms with turnover under $30 million.

Its estimated cost is about a billion dollars a year.

BusinessNZ Chief Executive Katherine Rich told Kerre Woodham it would apply to a majority of our businesses. 

She says it would need to be researched for implementation, but it's bold and could transform business in New Zealand   

LISTEN ABOVE 

There's a belief New Zealand First's proposal to slash the tax rate for small businesses could make a positive difference to our business landscape. &nbsp;
The party's promising to lower the tax rate from 28% to 20% for firms with turnover under $30 million.
Its estimated cost is about a billion dollars a year.
BusinessNZ Chief Executive Katherine Rich told Kerre Woodham it would apply to a majority of our businesses.&nbsp;
She says it would need to be researched for implementation, but it's bold and could transform business in New Zealand &nbsp;&nbsp;
LISTEN ABOVE&nbsp;

Katherine Rich: BusinessNZ CEO on the impact NZ First's proposed tax cut for small and medium businesses could have

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/1bc51b6c-c0df-43f9-acb9-b4d00023c91b/transcript

Jenee Tibshraeny: NZ Herald Wellington business editor on thousands of clubs, societies, trade associations and industry councils facing a significant tax bill

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