More Kiwis than ever are in debt to the IRD, and one expert has a theory about why it's gotten so bad. 

As of March this year, more than half-a-million people had debt to Inland Revenue, and overall tax debt sat at $9.4 billion, of which Inland Revenue said 62 percent, or $5.9 billion, was collectable.

Chartered Accountants Australia New Zealand lead, John Cuthbertson, says there's been a significant build-up of debt, largely as a result of the Covid-19 pandemic.

"As debt ages, it becomes harder to collect - and we know that about 43 percent of it is over 2 years old. So once you get into that territory, it gets harder and harder to collect." 

LISTEN ABOVE

More Kiwis than ever are in debt to the IRD, and one expert has a theory about why it's gotten so bad.&nbsp;
As of March this year, more than half-a-million people had debt to Inland Revenue, and overall tax debt sat at $9.4 billion, of which Inland Revenue said 62 percent, or $5.9 billion, was collectable.
Chartered Accountants Australia New Zealand lead, John Cuthbertson, says there's been a significant build-up of debt, largely as a result of the Covid-19 pandemic.
"As debt ages, it becomes harder to collect - and we know that about 43 percent of it is over 2 years old. So once you get into that territory, it gets harder and harder to collect."&nbsp;
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

John Cuthbertson: Chartered Accountants Australia New Zealand lead on the number of Kiwis in debt to the IRD

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/760fea5f-3fb9-457f-b6a9-b4a300706b83/transcript

Instagram and Tiktok could soon become off-limits for under-16s.

A new Online Safety Bill introduced to Parliament today requires a range of social media platforms to block teen accounts. 

It establishes a regulator to monitor compliance, and fines for companies not following the law. 

Education Minister Erica Stanford says it builds on lessons from Australia's ban. 

She says our legislation will be different in explicitly ruling out check-box age verification to make accounts.

"Lots of children were using that to get around it, so that's why you saw in the beginning that it wasn't having the same level of effectiveness." 

LISTEN ABOVE

Instagram and Tiktok could soon become off-limits for under-16s.
A new Online Safety Bill introduced to Parliament today requires a range of social media platforms to block teen accounts.&nbsp;
It establishes a regulator to monitor compliance, and fines for companies not following the law.&nbsp;
Education Minister Erica Stanford says it builds on lessons from Australia's ban.&nbsp;
She says our legislation will be different in explicitly ruling out check-box age verification to make accounts.
"Lots of children were using that to get around it, so that's why you saw in the beginning that it wasn't having the same level of effectiveness."&nbsp;
LISTEN ABOVE

Erica Stanford: Education Minister on the Government moving ahead with social media ban for under-16s

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2a22ed90-03c7-43d9-a5bc-b4b0005c4494/transcript

A teen social media ban, resembling one pioneered by Australia, is being introduced to Parliament today.

The Online Safety Bill requires platforms like Instagram and TikTok to block accounts for under-16s, and set up stronger age verification. 

Failing to do so could bring penalties worth up to 10 percent of global revenue.

Newstalk ZB senior political correspondent Barry Soper says it's important to find a solution - as social media usage is a concern impacting all parents.  

LISTEN ABOVE

A teen social media ban, resembling one pioneered by Australia, is being introduced to Parliament today.
The Online Safety Bill requires platforms like Instagram and TikTok to block accounts for under-16s, and set up stronger age verification.&nbsp;
Failing to do so could bring penalties worth up to 10 percent of global revenue.
Newstalk ZB senior political correspondent Barry Soper says it's important to find a solution - as social media usage is a concern impacting all parents.&nbsp;&nbsp;
LISTEN ABOVE

Barry Soper: Newstalk ZB senior political correspondent on the Government introducing their own teen social media ban

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/19c42fca-deed-4552-a23c-b4b000547a6c/transcript

Over in Australia, new data shows renting a unit now costs more than half the median take-home pay of a single worker in every capital city.

Data shows northern WA, the Gold Coast and Sydney were the most expensive places to rent, but even cheaper places like Adelaide would cost workers more than half their pay for a rental. 

Australian correspondent Oliver Peterson says there's less homebuyers than ever, leading to more people putting pressure on the rental market. 

LISTEN ABOVE

Over in Australia, new data shows renting a unit now costs more than half the median take-home pay of a single worker in every capital city.
Data shows northern WA, the Gold Coast and Sydney were the most expensive places to rent, but even cheaper places like Adelaide would cost workers more than half their pay for a rental.&nbsp;
Australian correspondent Oliver Peterson says there's less homebuyers than ever, leading to more people putting pressure on the rental market.&nbsp;
LISTEN ABOVE

Oliver Peterson: Australian correspondent on Australian rental prices increasing to more than half of median take-home pay

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0841b86e-189d-47a6-abb2-b4b000533212/transcript

John Cuthbertson: Chartered Accountants Australia New Zealand lead on the number of Kiwis in debt to the IRD

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