| Newsletter 22 February 2024 |
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Kia Ora,
Well, what a turnout we had at this year's AIS x NZ Chamber Waitangi Day family festival! Fun was had by all - especially the kids! I would like to thank the amazing sponsors who made the day possible for you all to enjoy, and to those of you who came along and joined in the spirit of community, which shone through the many smiling faces. These events require a team of dedicated volunteers, and the generosity of many. THANK YOU for your support.
Back to business. NZ Chamber corporate member Hawksford, held a joint-chamber budget briefing session on Tuesday morning, where Tax and Immigration specialists' shared business-related elements of last week's Singapore 2024 budget announcement, delivered by Singapore’s Deputy Prime Minister and Minister for Finance, Mr. Lawrence Wong. Several chamber members attended and heard about the various changes, opportunities, and impacts placed on businesses and individuals.
The event highlights can be found here, and importantly, Hawksford's assessment of the budget can be sourced here.
Next event to add to your diary! Our much-anticipated International Women's Day event is less than two weeks away, Join us as we explore what inspiration and inclusion actually look like, and the ramifications of exclusion, as we hear from the three progressive women leading our NZ Inc. team here in Singapore; HE Gabby Rush, Defense Advisor Shauna Graham, and Trade Commissioner Maggie Christie. Save your spot today! Click here to register. Special thanks to major event sponsor ANZ for hosting, and supporting partners XERO and International Medical Clinic.
Cheers, Tahsh |
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| Waitangi Day 2024- Done and Dusted! |
| Thank you to everyone who joined us last Sunday for an amazing Waitangi Day family festival hosted at the Australian International School! From delicious Kiwi treats to fun-filled activities, it was a day to remember. A special thanks to all our sponsors for making it possible!
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We extend our heartfelt gratitude to all our sponsors for their generous support and contributions, which played a vital role in making our Waitangi Day celebration a resounding success. Your commitment to our community is truly appreciated! |
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| International Women's Day #InspireNZINClusion |
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Date: Tuesday, 5 March 2024 Time: 5pm - 7.30pm Venue: ANZ Singapore (10 Collyer Quay, Level 30 Ocean Financial Centre, Singapore 049315)
NZ Chamber and MĀIA NZ Women's Network present our flagship International Women's Day event!
Join us as we proudly showcase a remarkable Kiwi panel of women leaders, all currently spearheading key positions within the New Zealand Inc. in Singapore. This groundbreaking event not only highlights the achievements of these extraordinary women but also serves as a powerful testament to the strides made in promoting diversity and inclusion.
Engage in insightful discussions as our panelists share their experiences, challenges, and triumphs in leading New Zealand's interests in Singapore. Learn about their journeys, leadership styles, and the impact they've made on NZ Inc.
#InspireNZINClusion Theme: Embrace the event's theme, #InspireNZINClusion, as we celebrate the unique contributions of these women leaders. This theme aligns with the global narrative of #InspireInclusion, with a specific focus on highlighting the accomplishments within the New Zealand Inc.
Thanks to the continued support of Premier Sponsor ANZ Bank, we're thrilled to host this special occasion at their distinguished venue in Singapore. You'll relish in delightful canapés and drinks, all while enjoying the city skyline. Join us for positive conversations, engage in an interactive Q&A, and take advantage of the networking opportunities before and after the event. This event is wonderfully supported by XERO, Fonterra, International Medical Clinic, and Little Farms. |
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Members News & Promotions |
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| Chamber partner Cafe Melba, and major F&B provider at Waitangi Day delivers everything you need to keep the family happy! And I mean the whole family!. As of 2022, both venues are officially certified as pet-friendly, so you can bring your fur-babies along to make it a real family day out! With amazing food, open space venues, a wide assortment of drinks, and friendly service, you'll be transported back home in no time.
*Terms and conditions apply; see website for details. |
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| Member Discount - 10% off @ Kiwi Kitchen |
| Need a taste of home? Enjoyed a pie at Waitangi Day and crave more?!
Well look no further, KIWI KITCHEN delivers you everything you need to bring a little bit of Aotearoa to you here in Singapore.
And Members receive a 10% discount using code: NZCCMEMBER when you shop with Kiwi Kitchen! |
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| Little Farms: Easter Brunch |
| This year, we are thrilled to announce that the Easter Brunch Set at Little Farms Group of Restaurants has gotten even better! We are offering a delightful feast, featuring the best dishes from our brunch menu, at an incredible deal. Get ready to indulge in a delectable brunch dining experience that will satisfy your taste buds and leave you craving for more. The best part, kids eat for free with every Easter Brunch Set and the adults can add on free flow beverages for $48++! Available at selected Little Farms Restaurants.
T&Cs Apply.
Easter Brunch Set: $88++ Per Person With Every Easter Brunch Set, Add on Free Flow (2 Hours) Prosecco & Wine @ $48++ /pax With Every Easter Brunch Set, KIDS EAT FOR FREE 31st Mar 2024 (Sunday) |
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| Member Discount @ HenTick (Tegel, Let's Eat, Farmer Brown and more) |
| HenTick, distributors of lots of favorite Kiwi brands, is giving our members a special discount: Get $10 off everything when you spend $120!
The discount code for members is: KIAORAWAITANGI
*Discount code expires 31 March 2024
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Foreign buyers must seek government permission through the New Zealand Overseas Investment Office (OIO). However, Singapore nationals or permanent residents are a class of specific qualifying individuals under the Overseas Investment Regulations 2005 who are able to purchase property without restrictions: - A Singaporean citizen can buy a house or land that has a property category of 'residential’ or ‘lifestyle’.
- A Singaporean citizen and ordinarily resident can buy land that is ‘residential and otherwise sensitive’ (for example, residential land that is also sensitive because it is on an island, next to a beach or river, or next to a conservation area).
To be ordinarily resident in New Zealand for residential property purchases, you must meet the following four criteria: - have a residence class visa;
- have lived in New Zealand for at least the last 12 months;
- have been physically present in New Zealand for at least 183 days of the last 12 months; and
- be a tax resident of New Zealand.
Trusts or companies can also buy residential land, but all persons who own or control the trust/company must be ‘qualifying individuals’).
Consent conditions differ for rural land larger than 5 hectares.
What are some tax policies in place, and potential changes to look out for? New Zealand’s new National led government proposed law changes make property investment more attractive?
1. Reducing the risk of paying capital gains tax. At present, if you sell a residential property you have owned for less than 10 years, you may have to pay income tax on any gain on the sale.
The government plans to reduce this period to 2 years, making it less likely that investors will have to pay tax on any increase in capital value.
2. Restore mortgage interest deductibility for rentals. In 2021, The former Government introduced the “interest deductibility” tax law. Under this change, any interest costs from rental income does not get calculated into the landlord’s taxable profit, thus making their properties appear more profitable than it actually is, leading them to paying more tax.
The National led Government has promised to bring back interest deductibility for landlords with a 60 percent deduction in 2023/24, 80 percent in 2024/25, and 100 percent in 2025/26”. Many property investors will pay less tax under National’s policy, and investors are more encouraged to purchase homes to be used as rentals.
3. Remove protection for tenants in favour of landlords. The former Labour Government removed the no-cause tenancy termination in 2021. Under Labour's changes, periodic tenancies could no longer be terminated without a reason. Any reason given must meet criteria in the law, for example, if the landlord intends to sell the property, or if the landlord and/or their family intend on occupying the property. This change in law made removing bad tenants more difficult.
The National led Government has said it will allow landlords to evict tenants without cause and reverse the provisions that allow fixed-term tenancies to roll into periodic tenancies upon expiry. These changes may persuade potential landlords to enter the rental market.
--------------- While the proposed changes have not yet taken effect, any interested investor will want to keep an eye out for when they do.
K3 Legal’s specialist in real estate transactions are available to provide further assistance or advice to expats and Singaporeans who are interested to purchase property in New Zealand. |
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| Not a member yet? Join now and become part of our vibrant and supportive community! |
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$99 per person Good for anyone with an interest or connection to New Zealand: - Individuals aged 26 & under who are solo-entrepreneurs, business people, students or anyone looking to regularly network with New Zealanders.
- Connect with the NZ community, culture and stay up to date with NZ-related business activity in Singapore and SEA.
$200 per person Good for anyone with an interest or connection to New Zealand: - Solo-entrepreneurs, business people, students or anyone looking to regularly network with New Zealanders.
- Connect with the NZ community, culture and stay up to date with NZ-related business activity in Singapore and SEA.
$330 per couple Good for couples with an interest or connection to New Zealand: - Join with your partner to receive an annual discount.
- Enjoy the same benefits and opportunities as the Individual membership.
- Both people do not have to be Kiwis.
$990 per Company, includes 3 Corporate nominees Good for any business with an interest or connection to New Zealand: - Connect and network with New Zealand Business people living in Singapore.
- Promote your product and services within the New Zealand Community.
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Copyright © 2019 New Zealand Chamber of Commerce Singapore. All rights reserved. You are receiving this email because you are a NZ Chamber member or have otherwise opted in through contact with our office. |
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Our mailing address: New Zealand Chamber of Commerce Singapore One George Street/ #21-04 Singapore 049145 Singapore |
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