The Technology Investment Network’s 2015 TIN Report reveals New Zealand’s TIN 200 companies collectively grew to $8.952 billion in annual revenue, a $600 million (7.3 per cent) increase over last year.

“The report shows our hi-tech businesses are an impressive growth story that are rapidly diversifying the New Zealand economy,” Mr Joyce says. “Export revenues are up by 7.5 per cent to an all-time high of $6.5 billion and a record 19 companies now have revenues of $100 million or more.

“Job growth across the TIN200 has accelerated with 2410 new jobs created in 2014/15, taking total job numbers to 37,333.”

The report shows companies achieving revenue growth in all regions of New Zealand, growth in all three major technology sectors – ICT, manufacturing and biotechnology – and in every major export market.

Four sectors – Financial Services Technology, General Software, Healthcare and Appliances – each achieved close to $100 million in revenue growth over the past year.

“The star performers in these sectors – businesses like Xero, Fisher&Paykel Healthcare, and Wynyard Group are all examples of how far New Zealand companies can go when they invest in producing world-leading innovation,” Mr Joyce says. “Research and development investment across the TIN200 grew by a whopping 16.1 per cent to $920 million in 2014/15.

“One of the interesting things in this year’s report is that the TIN Rising Stars – those companies showing sustained growth over three or four years – are on average investing nearly twice as much on R&D as the other TIN companies.

“The report suggests the gap between the leading TIN companies and the rest is closing, with 24 TIN100+ companies now having revenues of more than $10 million.

“This highlights the important role that R&D is playing in growing and establishing new tech companies.”

Overall, Mr Joyce said the report highlights what New Zealand tech companies can achieve with the help of government policies that remove roadblocks to their growth.

“With the new Innovation chapter of the Business Growth Agenda, we will continue to provide New Zealand tech companies with a platform from which they can use their talents and expertise to compete and win on the world stage.”

Sir Wira Gardiner has been appointed as Chair, and Mr Leigh Auton has been appointed as a member. They join Commissioner Janie Annear, who has been reappointed. The appointments are for a three year term, commencing 1 August 2015.

“I’m thrilled with these appointments, and believe that Sir Wira, Mr Auton and Ms Annear have the right knowledge and expertise to help communities focus on the issues that matter,” Mrs Bennett says.

“Fundamentally, we need local government to focus on delivering sustainable infrastructure, making sensible spending decisions, and listening to its citizens.

“It is the Commission’s role to look at the structure of local government and ensure we have a strong regional focus to promote job growth and increased social wellbeing.

“For too long the argument has been on how many mayors we have, instead of looking at key infrastructure and economic growth.

“I will be asking the Commission to be creative and think seriously about the different kind of local government structures that will help our communities continue to prosper.”

Sir Wira has a long and distinguished public service career. He was a founding director of the Waitangi Tribunal and the founding Chief Executive of Te Puni Kōkiri.

Leigh Auton has extensive local government experience with a particular background in planning, infrastructure and transport, and is former Chief Executive of Manukau City Council.

Janie Annear has been a member of the Commission since 1 July 2014 and served three terms as the Mayor of Timaru from 2004 to 2013.

“I’d like to thank outgoing Chair Basil Morrison and member Anne Carter for their service and significant contribution to the Commission’s work since 2011.”

Mr Morrison and Ms Carter complete their terms on the Commission on 31 July 2015.

Editors Note: The Local Government Commission is an independent statutory body. Its main roles are to make decisions about the structure and boundaries of councils and the representation arrangements for local authorities.

“Small business is the backbone of the New Zealand economy. SEAANZ is an important platform for researchers, educators, policy makers and practitioners to develop and share ideas,” Mr Foss says.

“The New Zealand SME Research Hub — launched last year — was a product of earlier SEAANZ discussions with the Ministry of Business, Innovation and Employment.

“I’m interested in finding out more about Australian initiatives and sharing New Zealand’s progress on the Business Growth Agenda and Better for Business programmes.

“I’m also looking forward to catching up with Bruce Billson, Australia’s Small Business Minister, and meeting the Victorian Small Business Commissioner.”

While in Melbourne, Mr Foss will also meet Senator Michael Ronaldson and the Honourable Kelly O’Dwyer, his Australian counterparts in the Veterans’ Affairs and Statistics portfolios.

30 June 2015

“The Forum has a long history of bringing together a range of participants from multiple sectors to discuss the relationship between New Zealand and the United States,” Mr McCully says.

“The US is one of New Zealand’s most important partners and events like this reinforce the strong links between our two nations.

“The US and New Zealand have a longstanding friendship and this year I am pleased to be able to welcome Danny Russel, the Assistant Secretary of State for East Asia and the Pacific as a keynote speaker for the event.

“Mr Russel is a friend of New Zealand and having him in New Zealand this week is an opportunity to discuss the US-NZ partnership and where we can take it in the future.”

“I would also like to welcome the other distinguished guests taking part in the Forum, including; senior members of the US Administration, Congress, and business representatives,” Mr McCully says.

“The Government clearly signalled in Budget 2015 that it would consult with the public on the final shape of the bright-line test before it becomes law later this year,” says Mr McClay.

“This consultation paper is an important step in the Government’s plans to bolster the tax rules on property transactions and help Inland Revenue to enforce them.”

Mr McClay says the proposed bright-line test will help to clarify whether or not gains on the sale of a property are taxable.

“The new bright-line test removes any doubt about a seller’s ‘intention’ and makes it clear that all property buyers, including overseas buyers, who buy and sell a residential property within two years will be taxed on their gains,” he says.

Once enacted, the bright-line test will apply to residential properties for which an agreement to purchase was entered into on or after 1 October 2015. The only exemptions are a person’s main home (including a main home held in trust), property that is transferred under a relationship property settlement, and inherited property.

The consultation paper, Bright-line test for sales of residential property, released by Inland Revenue and Treasury officials, seeks public feedback on the final design details of the bright-line test.

The paper proposes new definitions of “residential land” and “main home”, clearly identifies the dates of acquisition and disposal of a residential property so a seller and Inland Revenue know if the sale falls within the bright-line test, and clearly spells out property that will be exempt from the test.

Once Ministers have considered public feedback on the proposed changes, the new rules will be included in a tax bill to be introduced in September this year.

“The bright-line test, together with the measures introduced to Parliament last week in the Taxation (Land Information and Offshore Persons Information) Bill, will help Inland Revenue to more accurately identify investors in residential property, and ensure that they pay their fair share of tax, whether they are in New Zealand or overseas,” Mr McClay says.

The consultation paper, Bright-line test for sales of residential property, is available at www.taxpolicy.ird.govt.nz. Closing date for submissions is 24 July 2015.

ACC has achieved a surplus of $2.1billion – $300 million ahead of budget.

Levies will be reduced in 2015, and more reductions are expected from 2016, as the three levy accounts are now fully funded.

“I have written to the ACC Board to acknowledge this result. The Annual Report shows ACC is making good progress.

“It is embarking on a three-year transformation programme to improve customer service. It is my expectation that this will help to increase public trust and confidence, and support more of our most vulnerable.

“ACC is now essentially fully funded, and careful financial management has meant that we have already been able to reduce motor vehicle levies in 2015/16 so that the average New Zealand vehicle owner will be $135 better off next year.

“In the next fortnight I will be meeting with the Board to discuss key priorities, including the area of injury prevention. I have been pleased to have been advised of the Corporation’s increased focus and commitment in this area.”

“Core banking services for government haven’t been tendered for over 20 years and banking trends and technology have evolved considerably during this time,” Mr Joyce says.

“This RFP, released via GETS today, is an opportunity for payments and banking suppliers to work with government to put in place a modern banking solution that is flexible enough to accommodate future innovation.”

Mr Joyce says taking to market the banking business of core government agencies is a significant achievement in itself which will provide greater opportunities for better financial payment interaction between government, business and taxpayers.

“Providing opportunities for all government agencies under the planned new cross-government contracts will assist the Government’s better public services goal of making it easier for individuals and businesses to interact with government,” Mr Joyce says.

“An all-of-government banking solution is part of the wider Government Procurement Reform Programme aimed at making government buying as efficient as possible, encouraging innovation, reducing costs and improving competition.”

Given the major transformation programme Inland Revenue is already currently undertaking, its banking services in relation to Crown Revenue will remain with Westpac for the duration of the initial eight year term of the Transactional Banking Services contract. However Inland Revenue will participate in all of the sub-categories, including transactional banking for departmental expenses, card services and foreign exchange transactions. All other core crown agencies will participate in full in the new contract.

Respondents have at least 60 working days to complete the RFP which closes on 10 October 2014.

For more information on the all-of-government banking tender visit: http://www.business.govt.nz/procurement/all-of-government-contracts/under-development/banking-services

“In 2010, two-way trade was worth $10 billion; and our exports to China were $4 billion. At that time, the then-Chinese Premier Wen Jiabao and I agreed on the ambitious target of doubling two-way trade to $20 billion by 2015,” says Mr Key.

Statistics out today show that New Zealand is now exporting more than $11 billion worth of products to China, and two-way trade has already surpassed the goal of $20 billion.

Mr Key says; “The growth is showing no signs of slowing and that is why in my visit to Beijing in March, President Xi Jinping and I set an ambitious new goal for trade. We are now aiming to reach two-way trade of $30 billion by 2020.”

New Zealand’s economic relationship with China has deepened markedly in recent years.

“We have seen rapidly escalating demand from China as people have become wealthier, and naturally turn to higher quality products. As a high quality food producer, New Zealand is well placed to help meet that demand.

“This Government is committed to ensuring we have the right resources in place to support this growth and recognise the ever-increasing importance of the China market.

“That is why we have recently increased our personnel working on the China relationship, both in China and back in New Zealand.

“The New Zealand government and Kiwi exporters are committed to continuing to improve our relationship with China, because it creates jobs and increases incomes.

“Reaching the $20 billion target ahead of schedule shows that our investment in this market is paying dividends.”