For those of you who deal with client’s trusts which have cross-border connections (e.g. trustees/beneficiaries resident in more than one jurisdiction), then the recent release of a draft issues paper on the topic of ‘Income tax – trusts and the Australian–New Zealand Double Tax Agreement’ will no doubt be of interest to you. Referenced IRRUIP15, […]
IR has released three items for comment which have tax avoidance as their subject matter. The first is PUB00305 titled ‘Tax avoidance and the interpretation of the general anti-avoidance provisions sections BG 1 and GA 1 of the Income Tax Act 2007’ which sets out to explain the Commissioner’s view of the law on tax […]
IS 20/09 was released by IR just prior to Christmas, and provides commentary on the subject of unconditional gifts and GST. Determining whether a payment made to a non-profit body is an unconditional gift is important from the non-profit body’s perspective, both in establishing whether the payment is subject to GST as consideration for a […]
Unconditional gifts IS IS 20/09 was released by IR just prior to Christmas, and provides commentary on the subject of unconditional gifts and GST. Determining whether a payment made to a non-profit body is an unconditional gift is important from the non-profit body’s perspective, both in establishing whether the payment is subject to GST as […]
Richard has had over 30 years experience with NZ taxation, and particularly enjoys dealing with land tax issues and the GST regime. He deals with clients of all types and sizes and provides tax opinions on the appropriate treatment of items of income and expenditure, assists clients with IRD risk reviews and audits and can […]
Read moreRichard has had over 30 years experience with NZ taxation, and particularly enjoys dealing with land tax issues and the GST regime. He deals with clients of all types and sizes and provides tax opinions on the appropriate treatment of items of income and expenditure, assists clients with IRD risk reviews and audits and can […]
Taking that first step IR has now finalised its QWBA on the question of what is the first step legally necessary to achieve liquidation when a liquidator is appointed. Understanding the Commissioner’s position in this regard is important, because distributing capital gains to shareholders outside of the ‘on liquidation’ period for a company, converts that […]
Application of charities business exemption explained IR has issued two draft QWBA’s on application of the charities business exemption contained within section CW 42 of the Income Tax Act 2007 (‘the Act’). The first QWBA is referenced PUB00359a, with the title – Charities business exemption – when must it be used. The commentary considers when […]
OECD Philanthropy Report The OECD has recently released a report which comments on the tax treatment of philanthropic entities and charitable donations in 40 countries across the globe. Acknowledging that in some countries, the non-profit sector accounts for up to 5% of GDP, the report recognises the need for the right balance to be maintained […]
GST Registrations – winding back the clock I remember in the ‘old’ days, when you used to be able to file your application for GST registration, with IR accepting any effective date requested, although they would sometimes get a little touchy if the date was more than six months old. Those memories are fast disappearing […]
I can feel it in the wind A few weeks back I shared my views on Labour’s election win, the likely introduction of a 39% top marginal tax rate, and the potential to see a greater focus by IR on the application of the personal services application rules. Well lo and behold, IR have suddenly […]
Foreword by Andrew Chilvers Despite these uncertain times, expanding overseas can be a key driver for future growth for an ambitious business. International expansion can breathe new life into a company, drive huge value and set it on a path of continued success. Expanding a business overseas is a strategic opportunity that will help diversify […]
