More than 70 people attended the Wellington event at KPMG’s offices in the Kiwi capital to hear from Grant, who served as Deputy PM in Jacinda Ardern’s Cabinet during the pandemic.
Topics under discussion included everything from franking credits, to of the streamlining of travel between Australia and New Zealand - and why Kiwis get their bananas from South America instead of Queensland.
New Zealand National Council Deputy Chair Phillip Meyer SF FIN said it was focused on looking forward to consider how closer ties could benefit both countries economically and socially.
“One of the areas we spoke about where we could benefit was in the mutual recognition of franking credits,” said Phil.
“At the moment Kiwis who invest in companies like any of the big banks don't get the same tax benefits as Australian investors of the company’s franking credits.
“Mutual recognition of franking credits would solve this and be a fillip to investment right across the Tasman.
“Another example of this disparity is that in in New Zealand we pay more for fruit and vegetables here than consumers do in Australia.
“We buy bananas from Chile and Ecuador which are more expensive than those from Queensland.
“If we had one single purchasing market from third party countries and from within each other without restriction then we would be able to enhance both economies.”
While the Closer Economic Relations agreement - which marked its 40th anniversary earlier this year - is seen by the WTO as a one of the world’s standout free trade agreements, Phil said the discussions in Wellington suggested even closer ties could be beneficial.
“We could move to a true single economic market and the prosperity of both countries would be improved,” he said.
“The prosperity of New Zealand might be benefiting a little bit more, but both countries would see more investment opportunities.
“The idea behind the evening was to talk about how we could conceive of a better, more efficient future - and to go and do something about making it happen.
“It was a great success judging by how engaged members of the audience were. Grant Robinson was certainly engaged.”
The finance minister also talked about upgrading technology with smart gates at airports allowing easier, domestic airline-style exiting in New Zealand or Australia.
Easing of restrictions on the transfer of personal assets across the Tasman for people who want to bring their superannuation funds with them to New Zealand without paying large amounts of tax was also on the agenda at the event.
New Zealand National Council Chair Bernard McCrea SF FIN also declared the event a great success.
“It was a great opportunity to talk about how we need to move forward to make long term plans, looking beyond the electoral cycles,” he said.
“While we know we would struggle to change the political cycle, we can look at the capital cycle to ensure greater prosperity.”
CEO and Managing Director Yasser El-Ansary F FIN thanked KPMG and added that the event was a great example of what FINSIA stands for in bringing together professionals, regulatory leaders, and policymakers at a prestigious event looking at the future of the finance industry and the wider economy.
“It was a real pleasure to be in Wellington. Events like this are what FINSIA stands for - providing access to leaders with expert insights, promoting collaboration, and facilitating ongoing professional development in an ever-changing world.
“These kinds of event are not only important for individual professionals but the financial services industry as a whole.”