It feels like the right time of year to sit back and reflect on what’s been happening, and what’s to come. When I am trusted to take care of administration on behalf of another person or family, I never take it for granted and it’s something I hold in great esteem. I’m feeling very privileged […]
It’s around this time when I start thinking about next year, and reflect on the past year. Below are some random reflections that popped into my head while writing. Overcoming Overwhelm Trying to think through the day, the week, the year, and everything that needs to be done is the worst psyche out for me. […]
I think we all look for signals that guide us to what might happen next. And in business and investment, we look out for changes that deliver opportunity or risk. One of my investments went into liquidation recently. The liquidators’ report made me laugh, but also gave me a couple of lessons and an insight […]
I must admit, I got a little too excited (if “tax” and “excited” can be in the same sentence?) when I saw that Inland Revenue (IR) had issued a draft QWBA on the topic of ‘when is a subdivision a taxable activity for GST purposes?’ However, upon reading the 20-page document, referenced PUB00427, I came […]
Inland Revenue (IR) has released its final version of an interpretation statement (IS), which covers the topic of R&D (Research and Developement) loss tax credits. Note that this is a different regime from the R&D tax incentive (RDTI), which was introduced in the 2020 tax year, and a company may be entitled to make claims […]
It was a quiet week post Election, with little coming across my desk that I thought would interest you all. Questions have already started, however, regarding the proposed change to the residential bright-line rules, more specifically, the reduction in the bright-line period from 10 years to 2 years – as it was when the National […]
Disposal of land – to be taxed or not to be taxed? Part five
This fifth article in a series of six, on the various land tax provisions contained within the Income Tax Act 2007 (“the Act”), will focus on the potential application of section CB 13 – Disposal: amount from major development or division and not already in income. As a starting comment and as a consequence of some responses […]
It’s now less than a week away from this year’s Election Day, although some of you may already have taken up the option to get your votes in earlier and avoid the crowds. With nothing of interest coming across my desk again in the past week, I thought I would use this week’s edition to […]
GS Tax Services It was a very quiet week, with nothing of interest that came across my desk to update you all with. Therefore, instead, as I usually do in such quiet times, I will take the opportunity to shamelessly plug the tax services that we can offer to you, which include: Ask a question […]
If you are at all curious as to what may be on Inland Revenue’s (IR) agenda over the coming 12 months, it looks to make our lives simpler (some could argue otherwise). They are providing interpretation statements, operational positions, and other commentaries on areas of the tax law that may presently be creating uncertainty as […]
Business owners often require these for purchases or sales of businesses or shares, mergers, transfer of interest between shareholders, relationship property matters, succession planning, employee share ownership plans, intellectual property, or direct or consequential loss calculations.
Well, it is apparent that the Government has lost its patience with the Organisation for Economic Co-operation and Development (OECD) and has decided to introduce its own digital services tax (DST). The comments from the Ministers of Finance and Revenue were that “It’s clear that the international tax framework hasn’t kept pace with changes in […]
