Indian Newslink October 1 2018 Digital Edition

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OCTOBER 1, 2018 04 Homelink “A government without direction brings down confidence levels” Simon Bridges lashes out at the Coalition Venkat Raman For all the tirade of attacks that he launches in the Debating Chamber of Parliament, Simon Bridges appears a reasonable man while on a one-toone conversation. The Leader of the National Party and the Leader of the Opposition knows that even as he holds the government to account, the voting public would judge him and his Party for their policies and promises, and not for being critiques of the government of the day. Having been a Minister and a running mate before being elected Leader of his Party, Mr Bridges is well aware of the responsibilities that come with the job. As the Leader of the largest Party in Parliament with 56 members, he is aware of his strength; but he is equally aware that winning in an election is quite a different thing. Government without direction “I respect Jacinda Ardern as the Prime Minister and as a person,” he said, as he began his conversation with us at our office on Monday, September 24, 2018, and said that her government has no proper direction. “Jacinda Ardern has been let down by her team. She is inexperienced and her government does not know where to go. There are more than 170 Working Groups and no one knows what is coming. There is Simon Bridges at the offices of Indian Newslink uncertainty all around,” he said. No ‘R’ word Mr Bridges said that he does not mention the ‘R’ word, lest he is accused of scaremongering. “I have never mentioned that we are going through Recession, but our economy has definitely slowed down. We are now estimating growth at 2.5%. Business confidence is down, consumer confidence is down and there is uncertainty over immigration,” he said. Mr Bridges said that uncertainty is again seeing people move out, especially to Australia, where the level of business confidence is the highest in 40 years. Incentives, not burdens The National Party, he said, is on a different platform. He accused the government of triggering the rapid increase in prices of essential goods as an aftermath of the rise in petrol prices and the overall cost of living. “We will repeal every tax that the current government forces on people. We will repeal the Capital Gains Tax if the current Parliament passes such a law. “I would argue that we want less government and not a government that is a burden on the people. What is important today is the economy, return of confidence, reduced cost of living and reduced taxes. We will focus on what is good for New Zealand,” he said. Strengthening SMEs Mr Bridges also accused the government of ignoring Small and Medium Businesses (SMEs). “SMEs are the backbone of the New Zealand economy. And yet, the Prime Minister appoints a Business Advisory Council that is chaired by the Chief Executive of Air New Zealand. There is no representation for small businesses on this so-called Council. When we come back to govern, we will supercharge SMEs,” he said. Since the formation of the current government about a year ago, the National Party has become allergic to New Zealand First Leader Winston Peters, who is now the Deputy Prime Minister and Foreign Minister. Snipe at Peters “Winston Peters is the real boss. He is like the President of the country; he has the power to veto. He wants to tax New Zealanders. This is unacceptable,” he said. Mr Bridges has been highly critical of Mr Peters’ plans to expand the diplomatic missions with an estimated spending of $1 billion over the next three years or so. Is expanding our diplomatic horizon a good thing? After all, we are a trading nation and an expanded network will help in trade negotiations. “Even before me, the Treasury had said that spending such a large sum of money on our overseas missions would be wasteful. Neither Mr Peters nor this government has any plan. I support trade agreements and a strong pact with Commonwealth countries. We have the expertise. But I do not think $1 billion will help,” he said. Doing the right thing Mr Bridges said that a wise government will invest in health, education, infrastructure, research and development and innovation. “We should think about the right thing to do.” He said that New Zealand does not have an international debt crisis but that is no argument for increased government spending. “There has to be a list of priorities, proper planning and implementation. There is a lot of wastage of public money now,” he said. Mr Bridges said that he supports the Indian community in New Zealand. “We share the same values of hard work, success in life. I am working hard because New Zealand is a great place,” he said. You can watch Simon Bridges speaking to Indian Newslink on https://www.facebook.com/Indian- Newslink/videos/148693236070878/ We help you find the sweetest mortgage deal whether it’s your first home or investment property, and arrange the best insurance to suit your needs. 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OCTOBER 1, 2018 Homelink More transparent but stringent Customs regime from October 1 Supplied Content New Customs legislation to support border compliance and the country’s economy will come into force on October 1, 2018. The Customs and Excise Act 2018 will replace the current but outdated and much-amended 1996 Act and uses modern language that is easier to understand and interpret. Cooperative effort Customs spokesperson Terry Brown said that the new Act was a collaborative effort. “We have worked closely with the import/export sector, as well as the broader business community, in the past five years to shape the legislation and make it easier for traders to meet border requirements. There are new services and initiatives arising from the Act, including the ability to apply to store business records outside New Zealand or in the cloud, a new valuation rulings service, and the ability to seek reviews of Customs’ assessments directly from Customs. Many of the new changes will result in time and cost savings,” he said. Mr Brown said that the travelling public is unlikely to notice much difference at the border, with existing provisions reconfirmed or clarified.” Customs processes more than 13 million passengers a year, 14.4 million trade transactions and collects $13 billion in revenue for the Crown. More information on the Customs and Excise Act 2018 is available on the Customs website or by contacting our call centre 0800 428 786. About the new Act The intent of the Customs and Excise Act 2018 is still largely the same as the 1996 Act – to allow Customs to carry out its work of protecting New Zealand’s border and supporting the country’s economy. However, it provides more flexibility for Customs to keep pace with the constantly changing border, trade, travel and business environments. The new Act introduces new services and requirements Valuation rulings Customs can now make rulings on the appropriate method to determine the value of an importer’s goods. This means more certainty for importers where they are unsure of how to value their goods. Importers, or their agents/ brokers, need to apply for a ruling before goods are imported into New Zealand. Costs for this service apply. Customs has up to 150 days to make a valuation ruling. A ruling is valid for up to three years. Provisional values Importers who meet the criteria can declare provisional values for their goods at the time of importation, when final values are not known. This ensures a transparent, clear, and flexible process to estimate values, which takes the realities of Photo for Newsroom by Lynn Grieveson trade into account. A final value can be confirmed within 12 months after the end of the importer’s financial year. Compensatory interest and late payment penalties This is a new process for charging compensatory (use of money) interest and late payment penalties when duty hasn’t been paid in full on time. It is fairer and more transparent than the previous additional duties regime, as the new process is clearer about when remission can be granted, and charges are consistent with those imposed by Inland Revenue. Storing business records Anyone required to keep Customs-related records can now apply to store their business records outside New Zealand, including in the cloud. This change provides flexibility in how to store business records, is more cost effective in many cases and reflects modern business practice (in line with Inland Revenue’s requirements). Comptroller’s discretion The Comptroller of Customs (Chief Executive) now has legal guidance on how much discretion they have to make and correct assessments, and collect the duty identified. The guidance is only applied in legal matters on revenue, collections and assessment. It ensures a fairer and more equitable system for duty payers. Administrative review Importers, exporters, excise manufacturers, brokers or agents can now request an administrative review of a Customs decision they are not happy with. Customs staff not involved in the original decision will complete the review. The new process, which industry asked for, is designed to reduce barriers and delays, and help keep costs down. It’s quicker and less costly than appealing to the Customs Appeal Authority. 05 Those seeking a review must make an application, or seek an extension to make an application, within 20 working days of a decision being made. Single Window Joint Border Management System (JBMS) users play a vital role in helping gain accurate information about goods coming in and out of New Zealand. Users now have to meet ongoing competency requirements, such as always acting in a professional manner and being a fit and proper person. Those users who repeatedly fail to demonstrate competency can have their registration suspended or revoked. Administrative penalties Administrative penalties now apply to all exporters, importers, licensees and agents who make errors or omissions on import, export or excise entries. From April 1, 2019, Customs officers can issue on-the-spot infringement notices to anyone not complying with the official requirements. International arriving and departing passengers (air and sea), importers, exporters, excise manufacturers, Customs-controlled areas (CCAs) and brokers are subject to fines of $400 (for an individual) or $800 (for a body corporate) depending on the offence. This new infringement notice scheme replaces the previous petty offences regime. Affordable and split risk Significant upside 60-62 Tiraumea Drive, Pakuranga • Fee Simple corner site • Three retail shops plus residential accommodation • Returning a combined income of $80,221pa + GST • Split risk - Dairy, Takeaway, and Hairdressers bayleys.co.nz/1901847 For Sale by Deadline Private Treaty 4pm, Wed 24 Oct 2018 Tony Chaudhary 021 995 121 Janak Darji 021 047 1290 Amy Weng 021 177 3422 BAYLEYS REAL ESTATE LTD, MANUKAU, LICENSED UNDER THE REA ACT 2008 Boundary lines are indicative only 190 West Coast Road, Glen Eden • Fee simple, high profile add value investment with dual frontage • Numerous options - occupy, develop or lease • Zoned Business Town Centre offering future development potential bayleys.co.nz/1901850 For Sale by Deadline Private Treaty (unless sold prior) 2pm, Tue 30 Oct 2018 2 Harris Road, East Tamaki Tony Chaudhary 021 995 121 Janak Darji 021 047 1290 BAYLEYS REAL ESTATE LTD, MANUKAU, LICENSED UNDER THE REA ACT 2008 A SANCTUARY FOR WILDLIFE. NOT FOR TAX EVASION. Our country is a target for fraudsters looking to clean their money. It’s estimated that over $1 billion a year comes from drug dealing and fraud, and can be laundered through New Zealand businesses. Risking our reputation and economy. So, we’re making law changes to protect New Zealand and everything we love about it. To find out more, visit keepourmoneyclean.govt.nz
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Indian Newslink October 1 2018 Digital Edition

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