Central New Zealand rattled by magnitude 5.0 quake felt by more than 8000 people

A magnitude 5.0 earthquake centred 25km south-east of Nelson has been felt by thousands of people in central New Zealand

According to the GeoNet website more than 8400 people felt the "light" shake.

The quake struck at 9.30pm at a depth of 98km according to GeoNet.

It was felt widely at the top of the South Island and the bottom of the North Island - as far north as Taupo and as far south as Dunedin.

Nelson City Council has called the earthquake "a nice little shake there as we all settle down for the evening!"

There are no reports of damage so far in Nelson.

The council is reminding residents to be prepared and refresh their emergency plans with information from Nelson Tasman Civil Defence's website.

More than 8000 people have reported feeling the jolt, which was centred south-east of Nelson. Source: 1 NEWS


Shane Jones wants his Northland 'nephews' to get off the couch and work for the dole

Recent comments by the new Minister for Regional Economic Development Shane Jones telling his "nephews" to get off the couch and work for the dole have caused a stir in his Northland hometown.

Speaking on TVNZ1's Q+A on Sunday about the government's proposed work for the dole scheme, Mr Jones gave a strong message.

"I am not going to remain silent while my young near-do-well nephews in Kaikohe and other places fall victim to the gangs."

Northland has more than 16,000 people receiving some sort of unemployment benefit and around six per cent of the region is unemployed, making it one of the highest rates in the country.

Locals in Mr Jones' hometown of Kaitaia are divided over the Mr Jones' comments.

The new Regional Economic Development Minister said out of work Kiwis could be planting trees, instead of migrant workers. Source: 1 NEWS

"It's not good forcing people into anything is it? They're going to rebel some way," one man told 1 NEWS.

However, two of Mr Jones real nephews agree with him about people working for the dole.

"We have so many opportunities out there that we can activate that we can participate in the economics of this country, like forestry and agriculture," business owner Herekia Murray said.

Another of Mr Jones real nephews was recently on the dole but has now found employment.

"I've got mates on the dole sitting on the couch they're watching TV they're playing a PS3 that they're paying off," Tiriti Harrison said.

Whatever the outcome locals and nephews alike will be hoping uncle Shane's plans for the region will get results.

The new Minister for Regional Development has been blunt about those with work shy attitudes. Source: 1 NEWS


Government to crack down on multinational companies dodging tax

The government has introduced legislation to parliament that will stop multinational companies avoiding tax by shifting profits offshore.

The bill will be given its first reading on Tuesday next week.

"Some multinationals use aggressive strategies to pay little or no tax anywhere in the world," Revenue Minister Stuart Nash said.

"This is known as base erosion profit shifting and is a massive problem - it denies a country its taxation revenue and erodes confidence in the fairness of the tax system."

Stopping multinationals avoiding tax was part of the coalition agreement between Labour and NZ First.

Measures in the bill will prevent multinationals from gaining a tax advantage through:

* Artificially high interest rates on loans from related parties to shift profits out of New Zealand

* Hybrid mismatch arrangements that exploit differences between countries' tax rules

* Artificial arrangements to avoid having a taxable presence in New Zealand

* Related-party transactions to shift profits to offshore group members.

"The proposed new rules will be an effective response to current avoidance techniques, but are not the end of the story," Mr Nash said.

"The Government will continue to investigate further options, both legislative and administrative, to counter aggressive tax practices."

New Zealand money, dollars, currency
New Zealand currency. Source: istock.com