Articles tagged with Fees
Parliament Passes Bill for Fairer and More Effective Revenue Collection on Imported and Exported Goods
1 month ago | 206 viewsParliament has passed the Customs (Levies and Other Matters) Amendment Bill, aiming to enhance revenue collection on imported and exported goods. The bill introduces a levy regime to recover Customs' goods management costs, allows for the collection of product stewardship fees, and streamlines the process for seeking GST refunds on returned imported goods. Customs Minister Casey Costello emphasizes that the bill does not change existing charges or introduce new ones, highlighting the importance of spreading costs across importers through a levy regime.
Tags: Customs Minister Casey Costello Parliament revenue collection imported goods exported goods Customs legislation product stewardship fees waste minimisation legislation GST refunds levy regimeNew Bill Bans Surcharges on Foreign and Commercial Cards for Easier Payments: Impact on Businesses and Consumers
1 month ago | 219 viewsThe Government, led by Commerce and Consumer Affairs Minister Scott Simpson, is expanding the surcharge ban to include foreign-issued cards and commercial cards, aiming to simplify transactions for businesses and consumers. The Retail Payment System (Ban on Merchant Surcharges) Amendment Bill has passed its first reading, prohibiting surcharges on in-store EFTPOS, Visa, and Mastercard payments. The ban, set to be implemented within a month of passing the Bill, aims to save businesses up to $90 million annually and prevent surprise costs for Kiwi shoppers at payment terminals.
Tags: Government payment pain point surcharge ban foreign cards Commerce and Consumer Affairs Minister Scott Simpson Retail Payment System Amendment Bill Commerce Commission banking fees merchant service fees interchange feesGovernment Raises Probate Threshold to $40,000 for Faster Asset Access | 2025 Update
3 months ago | 748 viewsThe Government has agreed to raise the probate threshold from $15,000 to $40,000 to make it easier and cheaper for families to access assets of deceased loved ones, according to Justice Minister Paul Goldsmith. The current threshold set in 2009 no longer reflects the value of estates, especially with KiwiSaver balances, leading to smaller estates being burdened by court costs and legal fees. The increase aims to allow executors to distribute lower-value assets more efficiently, ensuring more of the estate goes to beneficiaries, while still maintaining oversight through the High Court for higher value assets to prevent fraud or non-compliance with the deceased's wishes.
Tags: Government probate threshold assets deceased loved ones Justice Minister Paul Goldsmith KiwiSaver High Court legal fees beneficiariesNew Zealand Bans Surcharges to Save Millions: Commerce Minister's Decision
3 months ago | 1471 viewsCommerce and Consumer Affairs Minister Scott Simpson announced the axing of surcharges to benefit New Zealanders financially. The move aims to eliminate the hassle and unexpected costs shoppers face at the checkout. By banning surcharges for in-store payments by May 2026, consumers can shop confidently without being penalized for their payment method choice.
Tags: surcharges money Kiwis Commerce and Consumer Affairs Minister Scott Simpson New Zealanders ban payments fees Commerce Commission