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Local Government (Rating) Act 2002
The Local Government (Rating) Act 2002 of New Zealand is an Act of New Zealand's Parliament that empowers Local Government bodies to levy property taxes on property owners within their jurisdictions. These property taxes are called rates. They are assessed annually and usually paid in four equal instalments. Introduction New Zealand no longer has land taxes per se. Formerly, NZ did have land taxes—its first ever direct tax, enacted in 1878, was a land tax (levied at a rate of one halfpenny per pound of unimproved land value). But the contribution of land taxes to the government steadily reduced and by 1967 represented a mere 0.5% of total government revenues. In 1982 it was observed that only 5% of all land was taxed (the rest was exempted under one of an increasing list of exemptions), and so in 1990, land tax was repealed. Instead, it has property taxes related to land. This might seem like a distinction in search of a meaning, and in simplest terms a property tax is m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Parliament
The New Zealand Parliament () is the unicameral legislature of New Zealand, consisting of the Monarchy of New Zealand, Sovereign and the New Zealand House of Representatives. The King is usually represented by his Governor-General of New Zealand, governor-general. Before 1951, there was an upper chamber, the New Zealand Legislative Council. The New Zealand Parliament was established in 1854 and is one of the oldest continuously functioning legislatures in the world. It has met in Wellington, the capital of New Zealand, since 1865 and in its Parliament House, Wellington, current building since 1922. The House of Representatives normally consists of 120 members of Parliament (MPs), though sometimes more due to overhang seats. There are 72 MPs elected directly in New Zealand electorates, electorates while the remainder of seats are assigned to list MPs based on each List of political parties in New Zealand, party's share of the total party vote. Māori people, Māori were represe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand
New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of island countries, sixth-largest island country by area and lies east of Australia across the Tasman Sea and south of the islands of New Caledonia, Fiji, and Tonga. The Geography of New Zealand, country's varied topography and sharp mountain peaks, including the Southern Alps (), owe much to tectonic uplift and volcanic eruptions. Capital of New Zealand, New Zealand's capital city is Wellington, and its most populous city is Auckland. The islands of New Zealand were the last large habitable land to be settled by humans. Between about 1280 and 1350, Polynesians began to settle in the islands and subsequently developed a distinctive Māori culture. In 1642, the Dutch explorer Abel Tasman became the first European to sight and record New Zealand. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of New Zealand
The New Zealand Parliament () is the unicameral legislature of New Zealand, consisting of the Sovereign and the New Zealand House of Representatives. The King is usually represented by his governor-general. Before 1951, there was an upper chamber, the New Zealand Legislative Council. The New Zealand Parliament was established in 1854 and is one of the oldest continuously functioning legislatures in the world. It has met in Wellington, the capital of New Zealand, since 1865 and in its current building since 1922. The House of Representatives normally consists of 120 members of Parliament (MPs), though sometimes more due to overhang seats. There are 72 MPs elected directly in electorates while the remainder of seats are assigned to list MPs based on each party's share of the total party vote. Māori were represented in Parliament from 1867, and in 1893 women gained the vote. Although elections can be called early, every three years Parliament is dissolved and goes up ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In New Zealand
Taxes in New Zealand are collected at a national level by the Inland Revenue Department (IRD) on behalf of the New Zealand Government. National taxes are levied on personal and business income, and on the supply of goods and services. Capital gains tax applies in limited situations, such as the sale of some rental properties within 10 years of purchase. Some "gains" such as profits on the sale of patent rights are deemed to be income – income tax does apply to property transactions in certain circumstances, particularly speculation. There are currently no land taxes, but local property taxes (rates) are managed and collected by local authorities. Some goods and services carry a specific tax, referred to as an excise or a duty, such as alcohol excise or gaming duty. These are collected by a range of government agencies such as the New Zealand Customs Service. There is no social security (payroll) tax. New Zealand went through a major program of tax reform in the 1980s. The t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Government Act 2002
The Local Government Act 2002 (sometimes known by its acronym, LGA) is an act of New Zealand's New Zealand Parliament, Parliament that defines local government in New Zealand. There are 73 territorial authorities (districts and cities), each with an elected Mayors in New Zealand, mayor and elected councillors. The districts are grouped under 12 Regions of New Zealand, regional authorities. History Local government in New Zealand derives its powers from statute rather than from any constitutional authority, there being no formal written constitution. Its origins can be found in the Municipal Corporations Act (1876), and it was built on the principle of ''ultra vires'' and that local government (the same as companies) can only do those things it is specifically authorised to do, and can not do anything it is not authorised to do. This requirement to have specific legislative authorisation resulted in a hodge podge of amendments to the local government legislation. For example, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regressive Tax
A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. "Regressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from high to low, so that the average tax rate exceeds the marginal tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA The regressivity of a particular tax can also factor the propensity of the taxpayers to engage in the taxed activity relative to their resources (the demographics of the tax base). In other words, if the activity being taxed is more likely to be carried out by the poor and less likely to be carried out by the rich, the tax may be considered regressive. To measure the effect, the income elasticity of the good being taxed as well as the income effect on cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rating Valuations Act (1998)
A rating is an evaluation or assessment of something, in terms of a metric (e.g. quality, quantity, a combination of both,...). Rating or rating system may also refer to: Business and economics * Credit rating, estimating the credit worthiness of an individual, corporation or country * Ranally city rating system, a tool used to classify U.S. cities based on economic function * Telecommunications rating, the calculated cost of a phone call Entertainment * Arbitron ratings or Nielsen Audio, consumer research on radio broadcasting audiences in the United States * Content rating, the suitability of a TV broadcast, movie, comic book, or video game to its audience ** Motion picture rating system, categorizes films according to their suitability for adults and children ** Television content rating systems, categorizes TV shows based on suitability for audiences ** Video game content rating system, categorizes video games based on suitability for players * Audience measurement ** Ni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rates Rebate Act (1973)
Rate or rates may refer to: Finance * Rate (company), an American residential mortgage company formerly known as Guaranteed Rate * Rates (tax), a type of taxation system in the United Kingdom used to fund local government * Exchange rate, rate at which one currency will be exchanged for another Mathematics and science * Rate (mathematics), a specific kind of ratio, in which two measurements are related to each other (often with respect to time) * Rate function, a function used to quantify the probabilities of a rare event * Reaction rate, in chemistry the speed at which reactants are converted into products Military * Naval rate, a junior enlisted member of a navy * Rating system of the Royal Navy, a former method of indicating a British warship's firepower People * Ed Rate (1899–1990), American football player * José Carlos Rates (1879–1945), General Secretary of the Portuguese Communist Party * Peter of Rates (died 60 AD), traditionally considered to be the first bish ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of New Zealand
The New Zealand Government () is the central government through which political authority is exercised in New Zealand. As in most other parliamentary democracies, the term "Government" refers chiefly to the executive branch, and more specifically to the collective ministry directing the executive. Based on the principle of responsible government, it operates within the framework that "the reigns, but the government rules, so long as it has the support of the House of Representatives".Sir Kenneth Keith, quoted in the Cabinet Manual'. The '' Cabinet Manual'' describes the main laws, rules and conventions affecting the conduct and operation of the Government. Executive power is exercised by ministers, all of whom are sworn into the Executive Council and accountable to the elected legislature, the House of Representatives. Several senior ministers (usually 20) constitute a collective decision-making body known as the Cabinet, which is led by the prime minister (currently ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Government In New Zealand
New Zealand has a unitary system of government in which the authority of the central government defines sub-national entities. Local government in New Zealand has only the powers conferred upon it by the New Zealand Parliament. Under the Local Government Act 2002, local authorities are responsible for enabling democratic local decision-making and promoting the social, economic, environmental, and cultural well-being of their communities, as well as more specific functions for which they have delegated authority. , seventy-eight local authorities cover all areas of New Zealand. Local authorities are positioned within a two-tier structure of territorial authorities (district and city councils) and superimposed regional councils. In addition, until their abolition in 2022, district health boards were locally-elected bodies with responsibilities for oversight of health and disability services within a specified area, although these boards were not generally considered to be lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Politics Of New Zealand
The politics of New Zealand () function within a framework of an Independence of New Zealand, independent, unitary state, unitary, parliamentary democracy. The system of government is based on the Westminster system, and the legal system is modelled on the English law, common law of England. New Zealand is a constitutional monarchy in which Charles III, King Charles III is the sovereign and head of state, while his Prime Minister of New Zealand, prime minister serves as the head of government. The New Zealand Parliament holds legislative power and consists of the King and the New Zealand House of Representatives, House of Representatives. The King is represented by the Governor-General of New Zealand, governor-general when not present in the country himself. Members of Parliament (MPs) are each Elections in New Zealand, elected to the House of Representatives for a flexible term of office, with general elections in New Zealand, general elections held at least every three year ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
