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Best 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.

business business news

All Episodes

2:52

Simon Bridges: Auckland Business Chamber chief...

Best of Business ·

2023/04/27

The Prime Minister is being praised for a "business friendly" pre-budget speech. Chris Hipkins says the Government will deliver a no-frills Budget, balancing restraint with funding the basics on May 18. He's ruled out introducing a capital gains or wealth tax, and bringing in a cyclone levy to fund the recovery. Auckland Business Chamber chief executive Simon Bridges says it provides certainty. "If he had sort of left that door around tax open, there's a very real danger he would have killed the

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5:12

John MacDonald: We are all part of the tax problem

Best of Business ·

2023/04/27

Another day and news of yet more surgery delays at Christchurch Hospital. Maybe if the super-rich were paying their fair share of tax, we wouldn’t be in this mess. Because, in a nutshell, your typical rich-lister pays about half as much tax on every dollar of income they receive, compared to the rest of us. That’s the main message the Government’s been pushing from the IRD’s report on the tax affairs of about 300 of the wealthiest families in New Zealand. And, essentially, the main reason for that

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5:04

Kerre Woodham: What was the point of that IRD tax...

Best of Business ·

2023/04/27

Last week, in fact, this very time last week, we were speculating wildly as to whether the IRD's report on New Zealand's wealthiest individuals was going to pave the way for a capital gains tax in this country. The report came out yesterday afternoon. It just sort of sat there - there was a big ta-da and then nothing. We're an outlier as far as the rest of the wealthy nations of the world go, in that we have no capital gains tax, unless you count the bright line test, which is kind of a mini

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9:09

Bruce Bernacchi: Tax expert says the wealthy earn a...

Best of Business ·

2023/04/26

A tax expert says the Government's wealth report covers what we already know. Inland Revenue's wealth report shows the top one percent of earners pay a median effective tax rate of 9.4 percent when including capital gains on investments. That's compared to an estimated 20 percent for "middle wealth" people. Dentons Kensington Swan tax partner Bruce Bernacchi told Kerre Woodham the wealthy earn a substantial amount from legally untaxed capital gains. LISTEN ABOVE See omnystudio.com/listener for

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3:23

Christina Houlihan: BSPKL co-founder and CEO on aims...

Best of Business ·

2023/04/26

A new New Zealand company is aiming to make green hydrogen a viable alternative energy source in this country and worldwide. Because green hydrogen can be created sustainably using renewable energy, the clean energy source is a transition away from oil and gas. BSPKL co-founder and CEO Christina Houlihan joined Mike Hosking. LISTEN ABOVE See omnystudio.com/listener for privacy information.

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3:23

Kate Hawkesby: Focus on what needs done, not...

Best of Business ·

2023/04/26

With all this tax the rich talk and naysayers wanting punitive measures dished out to anyone showing signs of success or ambition, I just wonder if we're shooting ourselves in the foot here. Are we not at peak tall poppy syndrome now? Because where does all this "it's not fair, woe is me" whining actually get us? So far all I can see is that it sends our best and brightest off elsewhere. We have the 5000 nurses who've registered to work in Australia, the net migration loss of more than 8000 Kiwis to

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3:41

Karen Asquith: Real Estate Agent says now is a good...

Best of Business ·

2023/04/26

The Reserve Bank is looking to make it easier for potential home buyers to get into the market. They're proposing changes to the loan to value restrictions, which currently mean banks can only give 10 percent of new loans to borrowers with deposits under 20 percent. They want to up that to 15 percent at the beginning of June. Bayleys Real Estate Agent, Karen Asquith told Mike Hosking anything that encourages market activity is positive. She says now is a good time for buyers to be looking, with

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3:43

Robin Oliver: Tax expert says the current tax system,...

Best of Business ·

2023/04/26

A tax expert says the current tax system is working. Inland Revenue's wealth report shows the top one percent of earners pay a median effective tax rate of 9.4 percent when including capital gains on investments. Meanwhile, Treasury estimates a comparable tax rate for a "middle wealth" Kiwi is roughly 20 percent. OliverShaw partner Robin Oliver told Mike Hosking the tax system, overall, isn't broken. He says it's relatively simple and efficiently raises a lot of money the Government can then

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4:14

Nicola Willis: National Finance Spokesperson says the...

Best of Business ·

2023/04/26

National says the Government needs to front up on whether it'll tax people more. Inland Revenue research shows the top one percent of earners pay a median effective tax rate of 9.4 percent, when including capital gains on investments. Meanwhile, Treasury estimates a comparable tax rate for a "middle wealth" Kiwi is roughly 20 percent. National Party Finance Spokesperson Nicola Willis told Kate Hawkesby there's no doubt Labour want more taxes. “This is a government that is spending $1 billion more

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3:54

David Windler: Mortgage expert says policy changes...

Best of Business ·

2023/04/26

Potential policy changes from the Reserve Bank could provide a helping hand to first home buyers. It's looking at tweaking the rule by which banks can only give 10 percent of new loans to borrowers with deposits under 20 percent. The Reserve Bank wants to increase that to 15 percent of new lending from the start of June. Mortgage Supply Co-Director David Windler told Kate Hawkesby it's good news for first home buyers. He says it's a small difference but its heading in the right direction, as finding

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9:00

The Huddle: Is it fair that our nation's wealthiest...

Best of Business ·

2023/04/26

Tonight on The Huddle, Newstalk ZB Wellington Mornings host Nick Mills and Jack Tame, host of ZB's Saturday Mornings and Q&A joined in on a discussion about the following topics: Is it fair that over 300 of New Zealand's wealthiest pay a tax rate of 9.4 and middle income earners pay 20.2 percent? What might the Government plan to do with this IRD report? Joe Biden has confirmed he's up for re-election. Is this a good idea, considering he'll be 86 at the end of a second term? Is he the only

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6:09

Brad Olsen: Infometrics Principal Economist on the...

Best of Business ·

2023/04/26

An IRD report today found that New Zealand's wealthiest pay tax at nearly half the rate of ordinary people. A sample of over 300 wealthy Kiwis (all worth over $50 million) revealed they paid a median tax rate of 9.4 percent. Treasury data indicates that 'middle wealth' New Zealanders pay a 20.2 percent tax rate. Infometrics Principal Economist Brad Olsen says no matter what way you cut the figures, middle income earners will be questioning the fairness of this. LISTEN ABOVESee

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3:10

Jeremy Hutton: Milford Asset Management Equities...

Best of Business ·

2023/04/26

Synlait Milk shares have taken a dive on the share market today. The company's shares have fallen by 27 percent, taking losses for Synlait to over 50 percent for the first third of 2023. Milford Asset Management Equities Analyst Jeremy Hutton says the 'ominous' trading halt on Friday indicated that bad news was coming for the company. Jeremy Hutton says Synlait Milk's profit decline was caused by A2 Milk showcasing that lower volumes of infant formula would be required going forward. LISTEN

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3:12

Jenee Tibshraeny: NZ Herald Wellington business...

Best of Business ·

2023/04/26

The Reserve Bank might make things easier for prospective borrowers to get a mortgage. The RBNZ is proposing to loosen loan-to-value ratio (LVR) restrictions, giving banks more leeway to lend to high-risk borrowers. NZ Herald Wellington business editor Jenee Tibshraeny says the Reserve Bank is proposing a relatively small change to LVR restrictions, and this change is likely to happen. LISTEN ABOVESee omnystudio.com/listener for privacy information.

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2:38

John Fisk: PwC voluntary administrator optimistic...

Best of Business ·

2023/04/26

The ski season starts in July, but Ruapehu Alpine Lifts' future remains on thin ice. The company has four potential Kiwi buyers after going into voluntary administration, driven by pandemic disruptions and poor snow. Administrator John Fisk has outlined the other alternatives. "Possibly going into liquidation, announcing closing or going into some sort of hibernation. But all of those have costs to them." He says it's optimistic to believe they could open for this year's ski season, but says a

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4:32

Jason Walls: ZB Political Editor on released IRD...

Best of Business ·

2023/04/26

The wealthiest New Zealanders pay tax at half the rate of ordinary people, an IRD report has found. An IRD study into the tax rate paid by a sample of 311 New Zealanders found they paid a median effective tax rate of 9.4 per cent. Treasury reckons a comparable tax rate for a “middle wealth” Kiwi was 20.2 per cent - that rate includes GST they pay and any benefits someone might receive like Working for Families. If you leave those out, their tax rate is even higher. The median wealth of the families

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9:20

Chris Hipkins: Prime Minister says the Government is...

Best of Business ·

2023/04/25

The Prime Minister says the Government is not releasing any new tax policy. An Inland Revenue report released early this afternoon will estimate the effective tax rate of the country's rich, taking into account their full economic income, rather than just taxable income. Chris Hipkins told Mike Hosking they were clear in 2020 about their tax policy. He says they're sticking to that and they'll let people know well in advance of the election what their tax policy for the next term is. LISTEN

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3:07

Geof Nightingale: PwC Partner says a new tax would be...

Best of Business ·

2023/04/25

More information is to be released on how much the rich are paying in tax. The Inland Revenue report will estimate the effective tax rate of the country's wealthiest - taking into account their full economic income, rather than just taxable income. PwC Partner Geof Nightingale says the tax system is collecting adequate revenue and there's no revenue crisis, even with cyclone expenses. He told Mike Hosking the report will spark a new tax. Nightingale says a new tax would be very complicated and

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3:20

Robyn Walker: Deloitte Tax Partner expects IRD report...

Best of Business ·

2023/04/25

New research is coming out about how much tax New Zealand's rich are paying. The Inland Revenue report will estimate the effective tax rate of the wealthiest families, taking into account their full economic income, rather than just taxable income. Deloitte Tax Partner Robyn Walker told Kate Hawkesby it's expected to show they're paying tax rates that are lower than marginal tax rates. But she says Treasury is also releasing their report on tax rates of the average New Zealander and expects that to

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7:16

Steven Dromgool: Money is a tricky topic with lots of...

Best of Business ·

2023/04/21

What systems work best? What questions should couples ask when talking about money? What does money mean for you? What is your safety number? What is debt ratio number? How do you need to be taken care of in relation to money? LISTEN ABOVE See omnystudio.com/listener for privacy information.

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