NZ as ‘financial hub’ will spur on Aus tax reform: partner
BY ALB, Kalianna Dean |
New Zealand PM John Key has intervened to speed up implementation of the country’s ‘financial hub’ project, which will see the current tax rate for foreign investment funds administered in New Zealand drop from 28% to zero. Richard Snowden, tax partner with Mallesons Stephen Jaques, has welcomed the move as Australia is already considering similar regulatory changes, expected sometime near the end of next year.