Cook Islands: Ministry of Finance

Cook Islands Ministry of Finance News

Development Awards Launched

The Minister of Finance – Mark Brown – is calling for nominations for a series of special awards to celebrate 50 years of development next year.

The winners of the awards will be announced at an awards dinner with the country’s Development Partners during the Development Partners Meeting in February next year.

The awards and the Development Partners meeting will be one of the many special events taking place next year to celebrate half a century of self-government in the Cook Islands.

There are 7 categories in the awards, they are:

Five Best Decade Development Awards for each of the decades for 1965-2014; Supreme development 1965 – 2015, and a People’s Choice award.

“The 2015 Development Awards will recognise the country's best development achievements over the last fifty years. These awards will honour organisations, individuals and the public and private sector for their efforts in creating positive change in the Cook Islands” Minister Brown said.

The nomination form can be downloaded by clicking here or can be collected from the Development Coordination Division offices.

Winners will be recognised at 2015 Development Partner’s Meeting Awards Dinner on Tuesday 10th February 2015.

Media enquiries to: This email address is being protected from spambots. You need JavaScript enabled to view it.    +682 29 521 

Additional Notes:

Over the last four years the government has hosted an annual meeting to allow Cook Islands government, civil society and private sector development partners, to meet and mix with international development partners.

The big meeting will be centred on the National Auditorium and the pa enua hostels with various meetings and functions being spread around the auditorium precinct, again generating a picture of the many facets of Cook Islands life with the auditorium representing Rarotonga and the hostels their sister island homes.

The meeting will be held between the 9th and 13th of February next year; the visit to Mitiaro will be on the 12th of February with an overnight stay.

Te kimi’anga no te ka tau no te au Akairo Turanga Akapuapinga

E kapikianga teia na te Minita o te Moni Mark Brown kite katoatoa rava kia tuku mai me kore kia tamanako mai i tetai au ingoa tangata me kore taokotai’anga tei tau kia oronga’ia tetai au Akairo no te Turanga Akapuapinga i roto nei i te Basileia ei tuanga no te akararangi’anga i to tatou 50 mataiti a teia mataiti ki mua (2015).

Ko ratou te ka manuia no teia au ‘Akairo Turanga Akapuapinga’ ka oronga’ia te reira kia ratou i te tuatau kai’nga’ma’nga a te au Patana Akatupu puapinga te ka rave’ia i roto i te marama ia Peperuare a teia mataiti ki mua.

Ko teia oronga’anga Akairo, e pera te Uipaanga a te au Patana Akatupu’puapinga ko tetai teia o te maata’anga angaanga te ka rave’ia no te akararangi’anga i to tatou 50 mataiti i te tupu’anga Basileia.

E 7 au tuanga no teia au Akairo:

E 5 au Akairo no te Turanga Meitaki Maata no te au mataiti e 10 mei te mataiti 1965-2014; te Akairo Papa’nunui rava no te Akatupu puapinga; e te Akairo i ta te Iti’tangata Iki’anga.

“Ko teia au Akairo o te 2015, e aka meitaki’anga teia na te Basileia kia ratou no te au angaanga meitaki tei raveia i nga mataiti e 50 i topa. Ko teia au Akairo e akangateitei teia i te au Taokotai’anga; te au tangata takitai; te tua o te Kavamani; e pera te tuanga Pitiniti, no te au angaanga ta ratou i rave ei puapinga no te Pae Enua Kuki Airani.” i tuatua ei te Minita Brown.

Ko te peapa no te tuku mai i te au iki’anga ka kite’ia te reira i runga i te rorouira me kore e tiki atu i te reira ki ko i te Minitiri o te Moni i te tuanga “Development Coordination Division”.

Ko ratou te ka manuia i teia au Akairo ka oronga’ia te reira kia ratou i te tuatau kai’nga’ma’nga ate au Patana Akatupu puapinga te ka rave’ia i te Ruirua ra 10 o te marama ia Peperuare 2015.

Me e uianga tetai e ta niuniu atu ia Tamara File i runga i te tereponi (00 682) 29521 me kore ki runga i te rorouira This email address is being protected from spambots. You need JavaScript enabled to view it.

Tuatua Tapiri

I nga mataiti e 4 i topa ake nei kua akanoonoo ana te Kavamani i tetai au Uipaanga Mataiti tei raveia i rotopu i te Kavamani; te au Taokotai’anga i vao ake i te Kavamani; te au Patana i roto i te Tuanga Kimi’puapinga; mate uipa katoa atu kite au Patana Akatupu’puapinga o teia nei ao.

Ko te uipaanga maata ka raveia te reira ki roto i te Are Karioi Nui, e ko te au ngutuare o te au pa enua ka rave katoa ia tetai au uipaanga e tetai atu au angaanga ki reira. E tutu te Are Karioi Nui no Rarotonga e kote au ngutuare o te au pa enua e tutu teia no te au enua i vao ake ia Rarotonga.

Ka raveia teia uipaanga maata i te ra 9 – 13 o Peperuare 2015, e ko te tere ki Mitiaro ka raveia te reira a te ra 12 o Peperuare. Ko te au tangata ka tere atu ki Mitiaro ka moe atu ratou okotai po ki reira.

 

2014 November Tourist Arrivals

November 2014 visitor arrivals were 9,417, a decrease of 934 (-9.0 per cent) compared to visitor arrivals in November 2013. November arrivals have been performing well for the last 2 years (November 2012 and 2013) with arrivals exceeding 10,000 in both years.   
 
The decline was driven mainly by a fall in Australian arrivals of 715 (a 30.2 per cent fall compared to November 2013), with a further 284 fall coming from New Zealand arrivals (a 4.6 per cent fall from November 2013). European arrivals were the only market to show an increase, with 195 more arrivals than in November 2013. 
 
While the monthly visitor arrivals for the last three months have been volatile, the overall performance has been consistent with the 2014/15 Budget forecasts. The Australian market continues to be a key focus for the Cook Islands so the performance of their arrivals will be looked at closely over the next few months. 
 

RMD Numbers Required by your Bank

As part of the 2013 Tax Review changes, all interest earned by local bank account holders became assessable as part of personal income.  Previously, a 15 per cent withholding tax applied to all individuals and only companies were fully taxable.  Charitable organisations such as churches and schools continue to be exempt.
 
By providing their RMD number to the bank, those earning below $11,000 a year ensure that they will pay no tax on their interest earnings whatsoever (whereas previously, the withholding tax would have applied).  For other income earners, your marginal income tax rate applies, with that tax being payable only at the end of the tax year.
 
To assist with overall compliance, from 2015 bank account numbers without RMD numbers can be charged the highest personal tax rate (a ‘non-declaration rate’ of 30 per cent) until such time as the account holder provides the bank with an RMD number.  This is similar to the no-notification rate of 39% which applies in New Zealand and 45% (the highest marginal tax rate) in Australia.  From 1 January 2015, it is a requirement that everyone supply their RMD number to the bank.  Once an RMD number is supplied, no tax will be deducted by the bank.  However it is still a requirement that you declare this income in your personal Income Tax Return at the end of the year.  
 
Lodging your RMD number with your bank will assist taxpayers when the web-lodgement of tax returns becomes available in the future.  Revenue Management will be able to pre-fill people's tax returns with interest details provided directly from the banks.
 
For those people with no other income source, such as a child, it would require a term deposit of approximately $250,000 on at an interest rate of more than 4.4% p.a to earn in excess of $11,000 in interest a year.  For example, someone with a $275,000 term deposit on the same conditions would be required to pay a total tax bill of around $200.
 
An application for an RMD number can be obtained from the Revenue Management Division.  If you need assistance in completing this form we will be more than happy to assist you. Please bring a copy of your passport or birth certificate. 
 
If you are unsure whether your charitable organisation is exempt, the Revenue Management Division can supply you with a letter to confirm the exemption.
 

Te Turu nei te Kuki Airani i te Ra o te au Basileia katoatoa i te takore’atu’anga i te rave angaanga tau’kore


Te akariro nei te Kavamani i teia ra akamaara’anga no teia nei ao i te takore’atu’anga i te rave angaanga tau’kore, ei ati’anga note tauturu i to tatou iti’tangata kia kore e tupu teia i roto i te Kuki Airani.

Kote Minita o te Moni ko Mark Brown kua tuatua aia e’e turanga puapinga teia note akamaroiroi i te au tangata e te au taokotai’anga e anoano nei i te ta’angaanga i ta ratou moni i roto nei i te Kuki Airani.

“E turanga meitaki to tatou i roto i teia nei ao. E ko tona aite’anga na te reira e akamaroiroi i te moni kia apai’ia mai ki roto i te Kuki Airani ei tauturu i to tatou iti’tangata.” i tuatua ai te Minita.

“E mea puapinga katoa kia’aku e kote Kavamani e te aronga angaanga, kia maoraora e kia kitea’pu’ia ta ratou au angaanga e te tangata i roto i te au oire i runga i te au enua katoatoa.”

Kote ra akamaara’anga no teia nei ao i te takore’atu’anga i te rave angaanga tau’kore, e ra teia no te au Basileia o teia nei ao i te turu kapiti’anga i teia akakoro’anga. Kote Kuki Airani tetai Basileia tei taina’atu note turu i teia akakoro’anga i te mataiti 2005.

Te kite’ia nei e te riro nei “te akatere’anga tau’kore i te ta’kino i te ora’anga o te au tangata puta’ua, e pera katoa i te tamanamanata i te kimi’anga ravenga a te Kavamani note akameitaki i te ora’anga o te iti’tangata, te utu’utu’anga i te puta’ua, e te ta’manamanata’anga i te au tauturu no vao mai.”

Kua tuatua katoa te Minita Mark Brown e “No’atu e te turu nei tatou i teia akanoo’anga note takore’anga i te akatere’anga tau’kore, te irinaki’anga ka anoano’ia kia marama to tatou iti’tangata i teia tumu’manako e ka akapeea ratou i te tauturu’anga kia kore teia e tupu i roto i te Kuki Airani.”

“I te ora 7 i teia aiai Monite ra 8 o Titema, ko au tetai ka tuatua atu na runga i te A’vata Tu no runga i teia tumu’manako e ka akapeea tatou i te paruru atu’anga i te reira.”

“Ka tuku katoa ia’atu tetai au karere no runga i teia tumu’manako na roto i te roro’uira www.mfem.gov.ck e tetai atu au ravenga kave karere kia kite to tatou iti’tangata no runga i teia e kia akakite katoa mai i tetai au manamanata ta ratou e kite nei.” i tuatua katoa ai te Minita ei akaoti i tona manako.

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