PROPERTY HOTSPOTS AROUND THE WORLD

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MOUNT MAUNGANUI, LEIGH, NEW ZEALAND

 MOUNT MAUNGANUI, LEIGH (NEW ZEALAND)
 

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Population3.86 million persons
PopulationGrowth1.16%
Land Area268,670 sq km
Currency & exchange rate1 New Zealand dollar (NZ$) = 100 cents

1 (NZ$) =  £0.3414

GDP-PPPMethod63,559.0 millions of US dollars
GDP Growth1.32%
GDP Per Head16,448.0 Thousands of US Dollars Per Person
FinancialInterest RateInflation Rate
5.75%2.7%
National BankReserve Bank of New Zealand
PoliticalNew Zealand is an independent parliamentary democracy and member of the Commonwealth. Government is based on the UK parliament. The conservative National Party and left-leaning Labour Party have dominated New Zealand political life.

The last elections were held in July 2002. A minority coalition Government was formed between two parties of the centre-left, Labour (52 seats) and the Progressive Party (2 seats). United Future Party (8 seats) and the Green Party (9 seats) have agreed to work with the government. The centre-right National Party (27 seats), which was in Government from 1990-1999, leads the Opposition

The head of state is Queen Elizabeth II and the current Prime Minister is Helen Clark who has been in the position since December 1999.

Social SecurityYes
LanguagesEnglish (official), Maori
CustomariesSame as western cultures.
Ethnic Make-up
New Zealand European75.0%
Maori10.0%
Asian and others7.0%
Pacific Islander4.0%
Other European4.0%
TaxIncome TaxCapital Gains Tax
Married persons are taxed separately, not jointly, on all types of income.

Taxable incomeTax on lower amountRate on excess
Exceeding (NZ$)Not exceeding (NZ$)(NZ$)%
038,000019.5
38,00060,0007,41033
60,000-14,67039
 

New Zealand has no general capital gains tax, although profits from sale of real property may be subject to regular income tax as underlined.

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