Coalition Government capitulates on CGT
On 17 April, many kiwis breathed a collective sigh of relief when the Prime Minister announced that the Coalition Government would not proceed with the Tax Working Group’s (TWG’s) recommendation for a capital gains...
Capital Gains Tax – keep calm and carry on
The Tax Working Group (TWG) tabled its final report on the Future of Tax sparking a media and public frenzy around capital gains tax (CGT). With all the media commentary, you could be forgiven...
IRD seeks feedback on proposed tax treatment for holiday homes
With peer-to-peer accommodation websites such as Airbnb, Bookabach and Holiday Houses revolutionising how people provide and consume short-term accommodation, the IRD has thought it timely to issue a number of draft proposals setting out...
Loss ring-fencing to apply from 1 April
The IRD estimates that approximately 40 percent of taxpayers with residential rental properties make tax losses, and the average annual tax benefit to these taxpayers is $2000.
This tax benefit will largely end from 1...
Capital Gains Tax rhetoric heating up
With the Tax Working Group (TWG) likely to release its final report in late January – a month early – media coverage and public reaction to the polarising tax is heating up. In my...
GST on low-value imported goods confirmed
Under recently announced changes to GST on low-value imported goods, offshore suppliers will now have to collect and return New Zealand GST on goods valued below $1000 that are sold to consumers in New...
Getting to grips with government’s new R&D tax credit
The Labour-led government has resurrected its old R&D tax credit and given it a new set of clothes.
The government’s goal is to increase New Zealand business R&D spend from its current 1.28 percent of...
Charities’ GST loophole to be closed
When it comes to GST, charities and non-profit bodies (NPBs) are often favoured compared with other taxpayers. NPBs can claim GST on most of their expenses, which is often greater than the GST they...
Taxing forestry investment income
For those who have investments in forestry, it’s timely to consider the legitimate opportunities available to manage your tax bill when the harvest income finally starts to roll in.
With average log prices tracking above...
Tax enhancements on the way
A new Bill introduced into Parliament proposes to make tax easier and simpler for individuals as well as including a raft of business-friendly changes.
The headline-grabbing change is that the new legislation will mean automatic...