Fieldays 2025: big business and a party in the paddock
It's the largest event of its kind in the Southern Hemisphere, but there is still something quintessentially Kiwi about Fieldays, which opens to the public today.
New Fieldays CEO Richard Lindroos has a 'mullet strategy' for the event – in other words, it's all business at the front and a
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1News
a day ago
- 1News
PM to visit China and Europe, will meet Xi Jinping
Prime Minister Christopher Luxon will travel to the country's largest trading partner next week, before moving on to Europe. He will be joined by a delegation of senior New Zealand business leaders in China's Shanghai and Beijing from June 17 to June 20. He will meet senior officials including President Xi Jinping. The visit would focus on growing trade, which was worth over $38 billion last year, as well as also look to strengthen education and tourism links and to maximise opportunities for New Zealand businesses. Luxon said China was a "vital part of our economic story" as New Zealand's largest trading partner, source of international students and third-largest tourism market. "New Zealand is a trusted supplier of safe, high-quality food and beverage products to Chinese consumers. It is an important market, and I look forward to doing what I can to support Kiwi businesses to thrive. ADVERTISEMENT "This visit is about backing the recovery of international education and tourism and putting New Zealand front and centre as a world-class destination for travel, study, and long-term connection." The Prime Minister will meet China's top leadership, including President Xi Jinping and Premier Li Qiang, to discuss the comprehensive bilateral relationship and key regional and global issues. Their face-to-face meeting has been hailed a success by the PM as it concentrated on trade issues. (Source: 1News) "The challenging global outlook makes it vital that we are sharing perspectives and engaging China on issues that matter to New Zealand." The Prime Minister would be accompanied by the 2025 Te Matatini champions, Te Kapa Haka o Ngatī Whakaue. Europe Luxon will then travel on to Europe to undertake bilateral visits in Brussels and the Hague from June 21 to 25. ADVERTISEMENT He would be meeting meet with leaders, including from the European Union, to discuss trade, security, and the shifting geopolitical landscape. The morning's headlines in 90 seconds including Air India crash, ferry still out of action, and ignoring TikTok KiwiSaver hacks. (Source: 1News) 'We have a high-quality trade relationship with the European Union, and the Netherlands and Belgium are gateways for New Zealand's growing exports to Europe," he said. "Since the early entry into force of the New Zealand-European Union Free Trade Agreement, Kiwi goods exports have grown by over 25%, which is a more than $1 billion increase." In the Netherlands, the Prime Minister would participate in the NATO Summit and hold one-on-one talks with a number of NATO leaders. 'Prosperity is only possible with security, and our discussions will focus on connections between the Euro-Atlantic and Indo-Pacific security environments,' Luxon said.
Scoop
a day ago
- Scoop
New Ute Owners Warned Of Looming 'Tax Grenade'
Correction: This article has been updated to clarify the $21,060 figure was in taxable benefits, not necessarily the full amount of tax that would be owed; and that the IRD is still consulting on the proposal. Farmers and tradies buying utes under the government's Investment Boost initiative will be hit by a "tax grenade" in the form of a fringe benefit tax (FBT), according to an expert. Findex tax advisory partner Craig Macalister said the repeal of a work-related vehicle FBT exemption for mixed private and business use committed to in the government's latest Budget will result in tax implications for people who use their utes for business. IRD was consulting on the proposed changes. Under the change, farmers with a mixed used farm ute costing $70,000 will be hit with an annual FBT bill of $6370, at the proposed 26 percent rate for petrol and diesel vehicles. "Farmers are buying vehicles at Fieldays, looking forward to a reduced cost thanks to depreciation deductibility, but oblivious to the tax grenade coming their way in 12 months," Macalister said. "Worse still, any vehicle over $80,000 - such as a $75,000 ute with $6000 in extras - will be classified as 100 percent taxable, resulting in a staggering $21,060 in FBT per year in [taxable benefit]." A tax of about $10,000 or $13,000 could then apply. Macalister said consultation on the tax changes had not been given inadequate consideration, resulting in a policy that over-taxed essential business assets. "In our view, the use of the current FBT exemption strikes the right balance for work-related vehicles. Scrapping it will hurt farmers and other industries reliant on utility vehicles," he said. "These utes are not perks or 'Remuera tractors' - they're essential tools for carrying equipment, personnel and of course dogs on and off the farm. "Yet, the IRD seems locked in a paradigm that views any provided vehicle as a perk to be taxed, unless it's an emergency vehicle."
Otago Daily Times
a day ago
- Otago Daily Times
Luxon secures Xi Jinping meeting in China
As he faces criticism at home for weakening ties with Beijing, Prime Minister Chris Luxon has booked a meeting with China President Xi Jinping next week. The National Party leader has announced the longest international trip of his tenure, spending four days in China and five in Europe in a stretch also taking in the NATO Summit in the Netherlands. Since taking office in late 2023, Mr Luxon has also continued a shift in New Zealand's foreign outlook - begun by Jacinda Ardern's Labour government in the aftermath of the Russian invasion of Ukraine - to more closely align with Australia and the United States. This has not been uncontroversial. Last week, former prime ministers Helen Clark and Geoffrey Palmer headed an open letter arguing New Zealand was" risking its sovereignty" by strategic alignment and integration with Australia, and it should not antagonise Beijing, for fear of losing a critical trade relationship. "We do believe that a military relationship with the United States directed against China has many risks for New Zealand," the letter stated. "That is especially true in a situation where the United States itself has recently become more ambivalent about its defence relationships with traditional partners. "Your forthcoming visit to Beijing is a vital opportunity to make it clear at the highest level that New Zealand retains its bipartisan commitment to its strategic partnership with China in the interests of a peaceful and prosperous region and world." Foreign Minister Winston Peters has dismissed their arguments, saying the letter was written by "various former politicians/officials who appear to be suffering from relevance deprivation syndrome". In a statement announcing his travel, Mr Luxon said time spent in Shanghai and Beijing would be focused on bilateral trade, measured at $NZ37 billion last year, calling China "a vital part of our economic story". "New Zealand is a trusted supplier of safe, high-quality food and beverage products to Chinese consumers. It is an important market, and I look forward to doing what I can to support Kiwi businesses to thrive," Mr Luxon said. A key promise of the National-led coalition has been to double the value of Kiwi exports in the next decade. Coaxing Chinese students back to New Zealand's education system is also likely to be feature in government-to-government discussions, with enrolments running at just over half their pre-pandemic peak. Accompanying Mr Luxon will be a delegation of business leaders, and a group of Maori performers. National kapa haka champions Te Kapa Haka o Ngati Whakaue will travel on the NZDF plane to China, despite the government's troubled relationship with Maoridom. On the second leg of his trip, Mr Luxon will broaden his focus to include security, meeting with EU leaders in Brussels, and then NATO nations in The Hague. "Prosperity is only possible with security, and our discussions will focus on connections between the Euro-Atlantic and Indo-Pacific security environments," he said. Like Australia, New Zealand is invited to annual NATO gatherings as part of the "Indo-Pacific Four" grouping, which also includes Japan and South Korea.
