Labour commits to 'warm, dry housing' for Bay of Plenty if elected

Jacinda Ardern says a Labour lead government would focus on supplying affordable housing in the area. Source: 1 NEWS



Tax working group suggests two options for capital gains tax, change to tax brackets

Two ways of taxing capital have been proposed by the Tax Working Group, including extending the current income tax regime.

File image of $50 and $100 notes. Source: 1 NEWS

Tax Working Group has released an interim report proposing two options for taxing capital gain.

The group was established by the government to look at whether there should be any changes to the tax system, including a potential capital gains tax - excluding the family home.

The head of the working group, Sir Michael Cullen, has just presented the interim report.

The group has received about 6700 submissions and spoke with business and community groups in roadshows across the country.

The group is proposing two options for taxing capital gain: any gain from the sale of assets taxed at roughly the marginal income tax rate, and the second a regime under which a portion of the value of certain assets would be subject to tax, for example rental properties, to be paid each year.

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However, Sir Michael said neither of these options were actual recommendations.

The report found there was "significant scope" to use tax to "sustain and enhance" New Zealand's "natural capital", including options like a waste disposal levy, "strengthening" the Emissions Trading Scheme, and congestion charges.

It also proposed removing the tax on employer contributions to superannuation schemes for those earning less than $48,000 a year.

The working group made no final recommendations about income tax rates, but suggested a progressive approach would be to reduce rates for the lower threshold tax brackets.

Public feedback will now be sought before the working group releases its final report in February 2019.


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Man who beat pensioner to death soon after release from mental health unit jailed at least 13 years

A man who stomped a pensioner to death shortly after being discharged from Auckland City Hospital's mental health unit has been sentenced to life in prison with a minimum non-parole period of 13 years.

Gabriel Yad-Elohim appeared at the High Court in Auckland today for sentencing for the murder of 69-year-old Michael Mulholland.

Mr Mulholland's daughter told the court that the pain of losing her father was immense.

She said her father was just an old man who enjoyed collecting National Geographic magazines and reading. He treasured gifts and letters from his children like diamonds.

Yad-Elohim had been out of Auckland City Hospital's Te Whetu Tawera for only three days when he killed Mr Mulholland in September last year.

His lawyers argued he had a disease of the mind, was hearing voices at the time and had no way of telling right from wrong.

The Crown said despite having schizophrenia, he knew right from wrong and killed Mr Mulholland for revenge after losing $200 in a methamphetamine deal.

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Gabriel Yad-Elohim at the High Court in Auckland today. (Claire Eastham-Farrelly) Source: rnz.co.nz

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New Zealand's GDP rises one percent in June quarter

New Zealand's gross domestic product has increased one per cent in the June quarter.

It's the largest rise in two years, and makes for a 2.7 per cent gain over the June year, Stats NZ said.

Growth was delivered on the back of a bounce back in dairy production and meat processing, higher power generation, and forestry.

House building also lifted, as did activity in the services sector.

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New figures show GDP grew for the last quarter of 2015, political editor Corin Dann says.
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Media personality accused of assaulting woman appears in court

A media personality has elected a trial by jury on assault charges they are facing. 

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He appeared in the North Shore District Court this morning.

He's facing three assault charges - including one of assaulting a woman with intent to injure.

He had previously pleaded not guilty to the charges back in July.

He has been granted ongoing name suppression through until his trial.

He will next appear in court in November.