The Niue Government and the Reef Group from New Zealand started two joint ventures in 2003 and 2004 involving the development of the fisheries and noni ( Morinda citrifolia , a small tree with edible fruit). The Niue Fish Processors, Ltd is a joint venture company processing fresh fish, mainly tuna (yellow fin, big eye and albacore), for export to the overseas markets. NFP operates out of their state-of-the-art fish plant in Amanau Alofi South, completed and opened in October 2004.In August 2005, an Australian mining company, Yamarna Goldfields, suggested that Niue might have the world's largest deposit of uranium. By early September these hopes were seen as overoptimistic,16 - and in late October the company cancelled its plans to mine, announcing that exploration drilling had identified nothing of commercial value.17 - The Australian Securities and Investments Commission filed charges in January 2007 against two directors of the company, now called Mining Projects Group Ltd, alleging that their conduct was deceptive and they engaged in insider trading.18 - This case was settled out of court in July 2008, both sides withdrawing their claims.19 - There is an Australian company that had been issued a mineral prospecting license in the early 1970s which is still very active in doing research and collecting data on potential mineral deposits on Niue. Remittances from Niuean expatriates were a major source of foreign exchange in the 1970s and early 1980s. The continuous migration of Niueans to New Zealand has shifted most members of nuclear and extended families to New Zealand, removing the need to send remittances back home. In the late 1990s PFTAC conducted studies on the Niue balance of payments,20 - which confirmed that Niueans are receiving little remittances but are sending more monies overseas, mainly for paying for imported goods and for the education of Niuean students sent to study in New Zealand. Foreign aid, principally from New Zealand, has been the island's principal source of income. ]Although most Niuean foreign aid comes from New Zealand the island nation is currently losing $250,000 NZ a year (i.e. reduce in New Zealand funding) meaning the country will come to rely upon its own economy more in times to come. Government expenses consistently exceed revenue to a substantial degree, with aid from New Zealand subsidizing public service payrolls. The government also generates some revenue, mainly from income tax, import tax and the lease of phone lines. The government briefly flirted with the creation of "offshore banking", but, under pressure from the US Treasury, agreed to end its support for schemes designed to minimize tax in countries like New Zealand. Niue now provides an automated Companies Registration, which is administered by the New Zealand Ministry of Economic Development. The Niue Legislative Assembly passed the Niue Consumption Tax Act in the first week of February 2009, and the 12.5% tax on good and services is expected to come into effect on 1 April 2009. Income tax has been lowered, and import tax may be reset to zero except for "sin" items like tobacco, alcohol and soft drinks. Tax on secondary income has been lowered from 35% to 10%, with the stated goal of fostering increased labour productivity.21 -