About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Friday, November 28th, 6:58PM
rss
Latest Headlines

News Round Up

Gst now payable on management fees, More money for the super fund, EQC goes offshore, New deposit rates.

Sunday, November 4th 2001, 8:55PM

GST now payable on management fees
IRD has once again had its way and negotiated a position where gst is now payable on unit trust management fees.

As reported earlier this year the industry and IRD were in discussion over the issue. (Read the Earlier story here)

These discussions have resulted in a 'concession' being reached. IRD has agreed not to backdate the charges as long as managers start applying gst from November 1.

The percentage of the management fee liable for gst is 10%.

Superannuation funds are exempt from gst.

More money for the super fund


The Government is putting aside $1 million to promote its New Zealand Superannuation fund to the public.

The campaign will be informational in nature, and is scheduled for the first half of next year. It will feature a household leaflet drop supported by television advertisements.

To read more about the Government's plans click here

Do you think the Government should be spending money promoting the fund? Vote in our new poll here.

EQC goes offshore
The Earthquake Commission is to diversify its $4 billion Natural Disaster Fund by investing up to 35% of its funds in global equities.

Finance minister Michael Cullen says the move makes sense: "In the event of a major earthquake, these investments would provide an important buffer as they would hold their value and could be sold quickly."

The remainder of the Fund would continue to be held in New Zealand in government stock and cash.

New deposit rates
UDC has made changes to some of its deposit rates effective November 5.

The new Secured Term investment rate for 2 years is 5.25%, minimum $25,000. Interest is paid yearly.

The telephone call account rates are: 4.70% for amounts of more than $100,000. 4.55% for amounts between $20,000 and $100,000, and 4.05% for $5,000 to $20,000.

The UDC Secured Term Investment 5 year is 6.15%, minimum amount $25,000.

« Who wants to be a millionaire?Sovereign takes regulation bull by the horns »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • FMA: We don't expect many personalised DIMS authorisations
    “Basically, as from Dec 1, to be classified as a wholesale investor in terms of the FFA and FMC Act, the client will need...”
    9 hours ago by AFA
  • Government-run annuity scheme proposed
    “i should add, i know it works because i was one of the million plus who have benefited from the scheme. ...”
    9 hours ago by w k
  • Time to promote advice: Dodds
    “Surely the people who pay fees to the IFA would expect them to be doing this promotional stuff already rather than waiting...”
    10 hours ago by R1
  • Time to promote advice: Dodds
    “Good stuff, Fred. I'm sure Robert and Murray are pleased to be confirmed as the paragons of virtue which they undoubtedly...”
    12 hours ago by dcwhyte
  • Squirrel applies to become QFE
    “Ahhh, maybe I'm missing something but the quote of "Once we are QFE-d we won’t need to worry about the advice piece and...”
    13 hours ago by mcdc98
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 5.69 6.19 6.55
AMP Home Loans $200k+ 7.14 5.59 6.09 6.45
AMP Home Loans LVR <80% - - 5.75 6.09
ANZ 6.74 ▼6.09 ▼6.19 ▼6.39
ANZ Special - ▼5.59 5.75 ▼5.99
ASB Bank 6.75 5.99 6.19 6.39
ASB Bank Special - ▼5.59 5.75 ▼5.85
BankDirect 6.75 5.99 6.19 6.39
BankDirect Special - ▼5.59 5.75 ▼5.85
BNZ - Classic - 5.69 5.75 -
BNZ - GlobalPlus 6.74 5.89 6.19 5.85
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.89 6.19 5.85
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 6.05 6.20 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
Lender Flt 1yr 2yr 3yr
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.65 5.69 5.74 5.99
HBS Special - 5.59 5.49 5.69
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.70 6.00 6.50 -
Housing NZ Corp 6.74 5.99 6.39 6.59
HSBC Premier 6.84 5.69 5.75 5.99
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.39 - -
ICBC 6.75 5.99 6.39 -
Kiwibank 6.65 5.69 6.19 6.55
Lender Flt 1yr 2yr 3yr
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.55 - - -
Kiwibank LVR > 80% - - 5.75 5.89
Liberty - - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.85 6.09 6.40 6.65
Perpetual Trust 7.70 - - -
Resimac 6.59 6.10 6.28 6.43
SBS Bank 6.65 5.69 5.74 5.99
SBS Bank Special - 5.59 5.49 5.69
Lender Flt 1yr 2yr 3yr
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 5.99 6.19 6.39
Sovereign Special - ▼5.59 5.75 ▼5.85
The Co-operative Bank 6.70 ▼5.69 5.75 ▼5.99
TSB Bank 6.74 5.95 6.19 6.30
TSB Special - - 5.79 -
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 6.59 6.09 6.39 6.65
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - - 5.99
Median 6.70 5.99 6.19 6.34

Last updated: 28 November 2014 6:53pm

News Quiz

A well-commented on story last week mooted that many authorised financial advisers are out of their depths discussing what with their clients?

bonds

death

divorce

piles

birth control

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com