We’re coming to get you…

Well, they’re not really, but certainly if you are investing offshore as a New Zealand tax resident, which usually means that you should be paying New Zealand taxes on your worldwide income, then it’s certainly prudent that you understand entirely your New Zealand tax obligations with respect to those offshore investments. Recently Inland Revenue (IR) […]

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Are you a CBP?

I appreciate it is everyone’s favourite topic – the financial arrangement or ‘FA’ rules – and consequently, you will all be overjoyed to hear that IR has released a draft interpretation statement titled ‘Cash basis persons under the financial arrangements rules’, with a reference of PUB00396. The purpose of the latest IS draft is to […]

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Co-ownership changes – land sales rules

IS 22/03 is a good read for those of you advising on the potential application of the various land taxing rules (particularly bright-line) to co-ownership changes with respect to a land title, including changes to the trustees of a trust. I suspect most of us already appreciate with respect to the latter, that a trustee […]

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Employees Additional Transport Costs Tax Free

Inland Revenue (IR) has issued a draft operational statement for comment titled ‘When employee allowances for additional transport costs are exempt from tax’. The OS has the reference ED0243, and is a 17 page document issued to provide guidance on the potential application of section CW 18 of the ITA07, which can exempt from tax […]

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Have they finally listened for once?

Back in a mid-March edition of AWIR, I outlined the Government’s latest proposals targeted towards taxpayers who were supposedly using a company structure to avoid predominantly the 39% personal tax rate, but also the 33% rate. The discussion document was titled ‘Dividend integrity and personal services income attribution’, and suggested:That if you had a controlling […]

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Fringe Benefit Tax (FBT) exclusion for charitable & donee organisations

Inland Revenue (IR) has now finalised BR Pub 22/06, which is an update and reissue of BR Pub 17/06, which expires end of June. The binding ruling discusses the circumstances in which a benefit provided by a charitable organisation falls within the FBT exclusion contained with section CX 25. The arrangement to which the Ruling […]

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The “Backstop” – A Proposed Policy Change To The Fair Pay Agreements Bill | Tess Von Dadelszen

The “Backstop” – A Proposed Policy Change To The Fair Pay Agreements Bill | Tess Von Dadelszen The Fair Pay Agreements Bill (“the Bill”) was introduced to Parliament on 29 March 2022 and passed its first reading on 5 April 2022. The Bill provides a framework for collective bargaining of Fair Pay Agreements (“FPAs”) and aims […]

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Significant Changes To New Zealand’s Covid-19 Response – What Does This Mean In The Workplace?

The Government has announced significant changes to its Covid-19 response, including to: Remove Vaccine Pass requirements for businesses from 11.59pm on Monday 4 April 2022; Remove its vaccine mandates for education, Police and Defence workers from 11.59pm on Monday 4 April 2022 (health, aged care, corrections and border workers will still be subject to Vaccine Mandates […]

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A Week In Review- Gilligan Sheppard

GST & finance leases Inland Revenue (IR) has published IS 22/02, which is an interpretation statement providing guidance surrounding issues of time of supply and value of supply for GST purposes, once it has been determined that a finance lease exists. The document is 54 pages in length and commences with a basic summary of […]

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5 Tips For Chasing Invoices Without Annoying Your Clients

When you’re a small business owner, sole trader or freelancer, asking for payment on overdue invoices can be a delicate matter. Without an accounts person or department, sometimes you’re trying to secure new work and chase invoices from the same person. That can be an awkward tightrope to walk. Here are five tips for chasing […]

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Close Contact Exemption Scheme

Critical services businesses provide key infrastructure, and are part of critical supply chains. Businesses can access the Close Contact Exemption Scheme to ensure their critical services functions can continue. During Phases Two and Three of the Omicron response, employees at businesses who are registered critical services providers who are vaccinated and asymptomatic close contacts of a […]

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