tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, March 19th, 6:25PM

News

rss
Latest Headlines

News Round Up

Warrant over Telecom, Microsoft House investment, tax change 1 & 2

Monday, March 25th 2002, 12:10AM

Challenger International has launched a new endowment warrant over Telecom shares, which is aimed at investors seeking accelerated returns to New Zealand's largest listed company.

This warrant was chosen for its ability to perform over the long-term, and suits investors seeking access to long-term leveraged exposure in the telecommunication and network sector, Challenger chief executive John Rowley says.

The warrant gives investors a chance to buy into Telecom at about half the normal price, paying the residual balance any time over 10 years.

The new endowment warrant is limited to 4 million warrants and will be marketed in New Zealand and Australia.

Microsoft House investment
Money Managers has launched a syndicated property fund offering investors a share in returns from Auckland’s high-profile Microsoft House located at Viaduct Basin.

The Harbourside Property Fund is seeking to raise $10.5 million through the issue of shares and debentures. It will use bank finance for the balance of the $14.5 million purchase price.

The property will be managed by Dominion Managed Funds, which manages a portfolio of more than $360 million and is owned by Alastair Hasell and Money Managers managing director Doug Somers-Edgar.

Tax changes 1
The government proposes to zero-rate GST on services supplied by financial institutions to registered businesses, to allow financial institutions to claim GST on their business costs.

It will also delay legislating for a "reverse charge" on imported services until the zero-rating measure is ready for legislation.

Tax changes 2
The government is proposing to relieve the over-taxation of business-to-business transactions in the financial services sector, Revenue Minister Michael Cullen says.

"Financial institutions cannot claim GST refunds on most goods and services they buy because the services they supply are exempt from GST. Instead they must absorb the costs or pass them on to their customers.

"We are proposing to zero-rate GST on services supplied by the sector to registered businesses. The effect would be that GST would still not be payable on the services but that the financial institutions could claim back GST on their business costs.

Education savings scheme
A private working group will table a proposal for the creation of a universal tertiary education and training savings scheme with the Government in April.

Provisionally called ‘Able’, the proposal will aim at establishing a savings programme to assist all New Zealand families to save for their children’s tertiary education.

The working group is developing a solution that will involve families, community groups, charitable organisations, employers and the State.

The scheme involves families establishing individual savings accounts for their children for the specific purpose of saving for tertiary education. Friends, employers and other parties will also be able to contribute to the account, but the funds would not be available until the child enters recognised tertiary education or training. Similar schemes operate in the UK, Sweden and the Netherlands.

« Cullen has more super tricks in his bagSovereign takes regulation bull by the horns »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.24 6.79 6.65
ANZ 8.64 7.84 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.24 6.79 6.65
ASB Bank 8.64 7.24 6.79 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.24 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.84 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 ▼6.79 ▼6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.74 ▼7.29 ▼7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.69 6.45 6.19
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 ▼6.75 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 ▼7.39 ▼7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.30 7.89 7.69
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.30 8.89 8.69
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.84 7.45 7.25
SBS Bank Special - 7.24 6.85 6.65
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.74 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.04 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.24 6.75 6.65
Unity 8.64 6.99 ▼6.79 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 7.15 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.29 7.32 6.65

Last updated: 14 March 2024 9:32am

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