New tax law that comes into force on 1 July will require banks to provide Inland Revenue with tax information for certain customers. The new law, aimed at reducing global tax evasion, means that banks and other financial institutions will need to identify accounts held by foreign tax residents. They will then have to report… Read more »
Month: June 2017
Report No. 2: Voidable transactions, Ponzi schemes and other corporate insolvency matters
Ministry of Business, Innovation and Employment
The banking industry is seeking the public’s views on its proposed new, dramatically thinned down, Code of Banking Practice.
According to NZBA the existing Code is prescriptive and largely duplicates bank terms and conditions.
Look out for financial elder abuse
The New Zealand Bankers’ Association is encouraging people to look for the signs of financial elder abuse as part of Elder Abuse Awareness Week. “Financial elder abuse is the illegal or improper use of older people’s money, property and other assets. This kind of abuse is a very real risk for older New Zealanders. It’s… Read more »
Code of Banking Practice Review: call for public submissions
The New Zealand Bankers’ Association today called for public submissions on its review of the Code of Banking Practice. “We’re proposing a new-look, principles-based Code,” says New Zealand Bankers’ Association chief executive Karen Scott-Howman. “The current Code is quite prescriptive, and has largely come to duplicate bank terms and conditions. A principles-based approach is meant… Read more »
Banks charge New Zealand customers more for home loans
Given the number of factors involved, it’s not surprising there would be difference in retail interest rates in different countries.
Issues Paper – Review of the Capital Adequacy Framework for locally incorporated banks
Reserve Bank of New Zealand
Banks get ready for a future without cash
New Zealand Bankers’ Association chief executive Karen Scott-Howman said a recent report found New Zealand led the world in digital banking uptake. More than 80 per cent of New Zealanders now prefer to manage their money online.
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