Child support changes special reportIt was a fairly quiet week in the world of tax, the only release of note being Inland Revenue’s (IR) special report on the recent legislative amendments contained within the Child Support (Pass On) Acts Amendment Act 2023. The special report is titled “Child Support (Pass On) Acts Amendment Act 2023” […]
I recently attended an event where a discussion was held regarding how to recognise the people who rip you off, who discriminate against those with money, who are downright criminals, and those who are just mentally disturbed when it comes to money and how to handle it. Some of these people are in our blood-related […]
Inland Revenue (IR) has now published a report which provides early information explaining the GST rules for marketplace operators that are involved in the supply of ride-sharing and ride-hailing, delivery services for food and beverages, and accommodation services. The recent passing of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 […]
Directors fees and GSTEarlier this year, you may recall that Inland Revenue (IR) issued three public rulings related to the GST treatment of directors’ fees and board members’ fees. One of those rulings concluded that a professional director or board member (a person holding multiple directorships or board memberships) without any other associated taxable activity […]
Welcome to this week’s review of tax issues where I comment on what’s been happening in the world of tax over the past week. If you have a question or would like a second opinion on any national or international tax issues, please contact me on my email. 2023 kilometre rate publishedOperational Statement OS 19/04 […]
Sit back and relax – New Zealand’s transitional tax residents regime
IR Global – Meet the Members Asia-Pacific and The Middle East & Africa Packing up and moving to another country will often involve multiple decisions needing to be made, some of which can have material consequences for you if you make the wrong choice. The process is often made harder, by the numerous emotions that […]
These are often required by business owners 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 calculations of direct or consequential loss.
Inland Revenue (IR) has issued IS 23/02, which is to provide guidance to us all on the Commissioner’s view of how the 5-year bright-line test contained within section CZ 39 (so not section CB 6A which applies to post 27th March 2021 transactions) of the ITA07, should apply to specific family and close relationship transactions. […]
Inland Revenue (IR) has issued two new draft interpretation statements (IS) for your review and comment. The first is PUB00444, ‘Income tax – Government payments to businesses (grants and subsidies)’, which provides guidance on the income tax treatment of government grants and subsidies paid to businesses. The IS is focused on how sections CX 47 […]
Due to the severe weather events in January and February of this year, the Tax Administration (Extension of Due Dates) Order 2023 (SL 2023/48) extends a couple of due dates for those taxpayers significantly adversely affected. The date extensions are in relation to decisions/actions surrounding bad debt write-offs and beneficiary income distributions. With respect to […]
Inland Revenue (IR) has issued three new special reports post the passing of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (No 5 of 2023), which received the Royal assent on 31st March 2023. The first report provides commentary on the new build-to-rent exclusion from the interest limitation rules. While […]
AWIR: The third time | Environmental measures | Directors and board members | Tax Bill
Third time, hopefully the last time For the third time in less than two months, and hopefully the last for some time to come now, we have seen an emergency event declaration, this time in relation to Cyclone Gabrielle. The Tax Administration (February Cyclone Event) Order 2023 (SL 2023/10) came into force on 20 February […]
