Covid-19 legislation guidance IR has now published guidance on the legislative changes introduced via the passing of two recent tax Bills – the Covid-19 Response (Taxation and Other Regulatory Urgent Measures) Act 2020 (No. 10 of 2020) enacted on 30 April 2020 and the Covid-19 Response (Further Management Measures) Legislation Act 2020 (No. 13 of […]
Further COV determinations issued IR has certainly become trigger-happy with its new administrative flexibility powers, last week issuing three further COV Determinations: Determination COV 20/03: ‘Variation of the application of s 15D(2) Goods and Services Tax Act 1985 to extend time to make an application to change GST taxable period’ – this variation provides additional […]
A desire to help others was the main reason Nicola Tiffen decided she wanted to be a lawyer, and she has been able to do just that as a partner on Anthony Harper’s immigration team. Tiffen’s accomplishments include being able to help families affected by the mosque shootings in Christchurch. This year, she continues to press forward to […]
New SPS on amending assessments IR has issued SPS 20/03 – Requests to Amend Assessments, which is to replace the previous version, SPS 16/01, effective 2nd June 2020. The standard practice statement is in essence a guidance document for both IR staff and taxpayers, reflecting how the Commissioner should exercise her discretion, when considering s.113 […]
This week’s AWIR is a brief edition, as I recovery from surgery last week which presently makes it a little harder to tap on the keys I must admit. The key update I wanted to alert you all to, was a couple of changes to the eligibility criteria for the new 8-week wage subsidy, which […]
Tax free support for those losing jobs From 8th June 2020, those who have lost their jobs due to the impacts of Covid-19 during the period 1st March 2020 to 30 October 2020, will be entitled to apply for and receive the Covid Income Relief Payment (CIRP). CIRP is a 12 week scheme, payable at […]
Courier drivers – employee or independent contractor If you’ve been around as long as I have (I had just ceased working for IR at the time), you may remember the 1993 Court of Appeal decision in TNT Worldwide Express Ltd v Cunningham, which determined the relationship between the company and its drivers, to be that […]
Small business cash flow loan eligibility in China The eligibility criteria for the new Covid-19 related small business cash flow loan facility has now been clarified, with the application process going live on 12th May 2020 and with a number of our clients already having had their request for financial assistance approved. We were already […]
IR guidance on Covid-19 related GST issues IR has published its view of the appropriate GST treatment in relation to certain Covid-19 events, including cancelled supplies, change of use adjustments and registration cancellations. In summary: Cancelled supplies – where output tax has already been paid on the supply (or conversely input tax claimed) and the […]
The Alert Level 4 response to Covid-19 has seen all but essential workers required to work from home, a requirement which has now continued under Alert Level 3 (unless that is not possible and the workplace can operate ‘safely’), and is recommended once the Country moves to Alert Level 2. For those employees working from […]
Foreward by Andrew Chilvers For companies and individuals looking to move into new jurisdictions for business opportunities, setting up a bank account is a crucial part of the process. But this is never as straightforward as it seems. In all countries, banks are obliged to crack down on fraud and any potential financial scullduggery. As […]
IR Overseas Rental Property Interpretation Statements (IS) Still in their draft form, IR closed its public consultation process for three items last week, all related to Overseas Rental Properties. The first is PUB00310(a), which considers the income tax issues arising from ownership of overseas rental properties by NZ tax resident individuals. In my view, this […]