McClay shoots wrong target, African retailer appraises Postie, FMA handed Hanover files and World Cup explains world

Concern is growing over the Revenue Minister's dramatic change of tax law by press release

Tax practitioner fury has erupted over Revenue Minister Todd McClay’s decision to effectively de-register body corporate entities from GST.

Economics editor Rob Hosking outlines in today’s National Business Review print edition how the position – outlined by press release – is at odds with existing tax law, prompting one GST expert to say if the Commissioner for Inland Revenue can’t apply the law she should resign.

In other news, South African equity house Pepkor is thought to be the “credible international retailer” kicking the tyres of troubled Postie Plus Group.

Meanwhile, former Shareholders’ Association chairman Bruce Sheppard says he has handed to the Financial Markets Authority information related to his now settled defamation claim brought against him by Hanover co-founders, Mark Hotchin and Eric Watson.

In Foreign Affairs, Nathan Smith takes issue with numerous academics who claim nationalism is on the way out – he says the Football World Cup shows that nationalism and globalisation can co-exist.

Chapman Tripp partner Matt Sumpter raises questions over the “Buy Australian” campaign run by supermarket giants Coles and Woolworths, suggesting they might breach Australian consumer and competition law.

Property editor Chris Hutching runs the rule over Auckland developer Mansons TCLM’s partial sale of Telecom Place on the western fringe of the central business district.

Primary industries reporter Jamie Ball unveils a sticky situation for retiring National MP Paul Hutchison, as his crusade for credible manuka honey standards jars with his small stake in Manuka Health New Zealand.

Ad/Media reporter Victoria Young analyses shopper marketing and asks, is it an important niche or just another add-on for junior staff at big agencies to deal with?

Court documents filed in the United States reveal allegations from the Snoqualmie Indian Tribe that the multimillionaire behind Fiji’s first casino development – now closely associated with Auckland developer Tim Manning – has misused its $US1.5 million loan.

Shoeshine looks past the recent flag-waving over NZX-listed Trilogy International and says there appears to be a little froth built into the current share price.

An eight-page Eco Business special feature highlights why businesses still want to go green, despite consumers’ mercurial habits, and what can be done to achieve the vision of a truly sustainable Christchurch emerging from the devastating series of earthquakes.

In brief:

  • Guest columnist Stephen Jacobi says it’s too early to call time on the Trans-Pacific Partnership and that a quick and dirty end to negotiations serves no one’s interest.
  • NBR traces the rise and fall of John Banks
  • In Tray exclusively reveals Kim Dotcom’s open letter to D-Day survivors about suffering and wonders loudly about the next corporate merger – the MegaHerald?

All this and more in today’s National Business Review. Out now.