New Zealand

Last modification: 29 Aug 17

Introduction:

New Zealand is a country in the southwestern Pacific Ocean consisting of 2 main islands.

Demographics	4.595.700 inhabitants
Capital	Wellington
Major cities	Nelson, Queenstown
Languages	English (en-NZ), Maori (mi)
GDP	37,807.97 USD (2015)
Unemployment rate	5,1% in 2016
Main industries	GDP Composition by Sector: - Agriculture (4.6 percent) - Industry (24 percent) - Services (71.4 percent) Industrial Production Growth Rate: 2 percent Industries: food processing, wood and paper products, textiles, machinery, transportation equipment, banking and insurance, tourism, mining
Currency	NZD New Zealand dollar
Interest rate	3,65%
Political key info	New Zealand is a constitutional monarchy with a parliamentary democracy.
Inflation	2,20% in 2017

Total Car park	712 cars per 1000 inhabitants
Model preference top 5 (total market)	2016 1. Ford Ranger 2. Toyota Hilux 3. Toyota Corolla 4. Holden Colorado 5. Toyota Ra4 6. Mitsubishi Triton 7. Kia Sportage 8. Nissan Navara 9. Mazda CX-5 10. Suzuki Swift

4.1 Car Taxation	Registration or Relicensing Taxation, Fuel Taxation (included in the fuel price), Warrant/Certificate of Fitness and Road User Charge for vehicles > 3.5T
4.2 Income tax – Taxable persons	Registered owner or the person purchasing the registration on behalf of the owner
4.3 Company car	Full tax deduction is available for businesses (interest, lease cost, fuel cost,…). Self employed car owners need to keep a log to determine private/professional mileage profile.
4.4 Income taxes – drivers’ personal taxation	Value of the private use of a company vehicle is due to New Zealand Inland Revenue. If the employee pays no contribution to the employer, the employer is subject to fringe benefit tax
4.5 Electric vehicles
4.6 Future developments	Emission standards are goverming the import of vehicles.
4.7 Legal background (import taxes)	A small Custom Duty is due for vehicles of >NZD1000. Ambulances and recreational vehicles are submitted to higher Custom Duties. GST is charged on all imported vehicles

To suggest an update:

This section is empty…for now. Want to help us in filling it? Fill in your text in this section and become a wikifleet contributor!

To suggest an update:

Overview of penetration of funding methods (buy or lease statement)
Type of suppliers (captive versus multibrand, international versus local…)
6.1 Outright purchase:
Definition	Vehicle is registered as a fixed tangible asset on the balance sheet at the acquisistion value and depreciated over total useful economic life
Pro’s and con’s
Economic & legal ownership	Full ownership, included Risks asd Rewards
Business practices
6.2 Renting (Finance lease) :
Definition	Transfer substantially the risks and rewards incidental to ownership of the vehicle
Pro’s and con’s
Economic & legal ownership	Vehicle is registered as a fixed tangible asset. The lessee carries as a liabiity the minimum lease payments. Depreciation expense and finance expense are accounted for in the P&L.
Business practices
6.3 Full service leasing (operational leasing)
Definition	Is defined as a lease that does not transfer substantially all risks and rewards
Pro’s and con’s
Economic & legal ownership	Ownership remains with the lessor
Business practices
6.4 Fleet Management
Definition
Pro’s and con’s
Economic & legal ownership
Business practices
6.5 Short term rental
Definition
Pro’s and con’s
Economic & legal ownership
Business practices
6.6 Other funding methods