Magazine article New Zealand Management

In Box: Report Fails Trans-Tasman Challenge

Magazine article New Zealand Management

In Box: Report Fails Trans-Tasman Challenge

Article excerpt

A joint study by the Australian and New Zealand Productivity Commissions has failed to respond to the challenge of moving the trans-Tasman relationship to a new level.

That is the view of the Australia New Zealand Leadership Forum (ANZLF).

ANZLF says that the Trans-Tasman Economic Relations report's recommendations are largely unquantified in terms of economic benefits, and taken together will not deliver the step change that is required to enable the two economies to compete more effectively in the Asian century.

"It is particularly disappointing that the report hedges its bets on the biggest issue of all -- double taxation," said Australian ANZLF co-chair Rod McGeoch.

"Currently, companies based in Australia or New Zealand with operations in the other country have their profits taxed twice, since neither country recognises the other's system for offsetting tax credits. The result is that Australian equity investors effectively pay 60 cents in the dollar on their investments in New Zealand and New Zealanders effectively pay 53 cents in the dollar on their investments in Australia. …

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