Articles tagged with Fees
Commerce Commission Proposes Cut to Company Card Fees Saving NZ Businesses $40M Annually
2 weeks ago | 175 viewsThe Commerce Commission has proposed reducing the fees businesses pay to accept company cards, potentially saving retailers around $40 million annually and contributing to a total expected saving of up to $290 million per year for businesses. Commerce Minister Cameron Brewer highlighted that current interchange fees in New Zealand are nearly double those in Australia and unfairly burden businesses, which often pass these costs onto consumers through higher prices. The draft decision is open for consultation, with a final ruling expected later this year, aiming to ensure fairer payment processing costs and benefits for both businesses and consumers.
Tags: Commerce Commission Cameron Brewer retailers interchange fees company cards businesses consumers New Zealand Government banksBudget 2026 Allocates $44.9M to Modernize NZ Firearms System and Safety
3 weeks ago | 292 viewsAssociate Justice Minister Nicole McKee announced a $44.9 million Budget 2026 allocation to implement the new Arms Act and establish Firearms Safety and Education New Zealand, an independent firearms regulator. This funding prevents a significant increase in firearms licence fees, promotes fair cost-sharing between licensed owners and taxpayers, and aims to improve public safety by maintaining a well-functioning licensing system. Additionally, the budget supports the creation of a Firearms Licensing Review Committee and modernizes firearms ICT systems to enhance efficiency and trust in the regulation process.
Tags: Nicole McKee Budget 2026 Arms Act Firearms Safety and Education New Zealand firearms regulator firearms licence fees firearms licensing system Firearms Licensing Review Committee Police ICT systemsNew Zealanders to Benefit from 12-Month Prescriptions and Pharmacist Ownership Changes for Improved Access to Medicines
7 months ago | 727 viewsStarting from February 1, 2026, New Zealanders will have the option to receive 12-month prescriptions for their medications, aiming to save costs and enhance convenience for those on long-term treatments. This change, introduced in Budget 2025, allows stable patients to obtain longer prescriptions, reducing the need for frequent doctor visits and potentially saving up to $105 annually in GP fees. Additionally, the government is removing ownership restrictions for pharmacists to become prescribers, enabling more accessible care and innovation in the healthcare system.
Tags: New Zealanders Health Minister Simeon Brown Associate Health Minister David Seymour prescriptions medicines GP fees pharmacy pharmacist prescribers Medicines Amendment Bill community pharmaciesParliament Passes Bill for Fairer and More Effective Revenue Collection on Imported and Exported Goods
9 months ago | 890 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
9 months ago | 879 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
10 months ago | 1504 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
10 months ago | 2836 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