Senior tax practitioners are in shock after the Inland Revenue Department won another key tax avoidance case in the Court of Appeal, with implications for at least 16 companies and some $300 million of back tax, interest and penalties at stake. The latest decision, issued this morning, throws out the appeal by Australian listed kitchenware maker Alesco Corp against Inland …

Conservation Minister Nick Smith has given the green light for Port of Tauranga to widen and deepen its shipping channels, creating space to let in bigger vessels. The minister granted resource consent after local iwi blocked the plan under the old Resource Management Act for four years, Smith said in a statement. The consents mean Port of Tauranga can dredge …

New Zealanders are being offered an allocation incentive to pre-register for shares in MightyRiverPower as the government ramps up a campaign to promote the $1.8 billion selldown of the state-owned power company. Those that pre-register over the next three weeks may be allocated 25 percent more shares than those who don’t pre-register if demand exceeds supply, Finance Minister Bill English …