Date posted: 12/03/2019 2 min read

Recent New Zealand consultations

Recent advocacy by Chartered Accountants ANZ in New Zealand.

In Brief

  • Upcoming Parliament appearances
  • CA ANZ Advocacy
  • Recently finalised items

CA ANZ to appear before Parliament on Tax Bill 

New Zealand Tax and Financial Services leader John Cuthbertson, and CA ANZ Tax Advisory Group Chair, Greg Haddon will appear before the Finance and Expenditure select committee to discuss our submission on the Taxation (Annual Rates 2019-20, GST Offshore Supplier Registration, and Remedial Matters) Bill on 18 March 2019.  

Proposals in the Bill include a framework which will apply to collect GST on low-value imported goods (goods less than $1000) from offshore suppliers from 1 October 2019 and changes intended to stop investors from deducting expenditure relating to loss-making residential properties from their other income to reduce tax liability.  

A copy of CA ANZ’s submission on the Bill will be available on our website following our appearance before the committee.  

A Supplementary Order Paper (SOP) to the Bill was introduced on 6 March 2019. The intention of the SOP is to “resolve legislative anomalies where there are issues with tax laws that produce outcomes which are inconsistent with clear and understood policy intent.” An order in council can be made by the Minister of Revenue to grant Commissioner exemption making powers. These powers can be used to modify the application of tax laws, at the optional application of taxpayers, for a limited period of time, and following a period of public consultation.

CA ANZ Advocacy

Our NZ Tax Team have been engaged with members, officials and Minister’s through a number of channels this month. Our team recently met with our Tax Advisory Group to discuss current national and international tax policy settings and advocacy priorities before engaging with senior officials from Inland Revenue and Treasury. We also had the opportunity to discuss our advocacy priorities with the Minister of Revenue and Commissioner of Inland Revenue. Earlier, the National Tax Liaison Group met in Wellington to discuss practical and operational matters and concerns which had been raised by members with Inland Revenue. 

Recently finalised items  

Inland Revenue has finalised their statement SPS 19/01: Tax payments – when received in time. Many members contacted the CA ANZ Tax Team with concerns around this item, specifically in relation to post dated cheques. This statement will be published in Inland Revenue’s April Tax Information Bulletin and will be a practical resource for members and taxpayers.  

The interpretation statement on income tax – application of scheduler payment ruled to non-resident director’s fees is also expected to be included in the April Tax Information Bulletin. 

Contact the CA ANZ Tax Team

As an advocacy team, we endeavour to comment on a “what’s best for New Zealand” basis. Our public policy perspective means we provide comment on tax policy and its implementation free from self-interest or sectorial bias. Our submissions are guided by the following principle: the tax system must not impede New Zealand’s international competitiveness, the growth of our economy; or our innovation and entrepreneurship.  

We work closely with Inland Revenue, Treasury and other stakeholders in formulating our submissions as well as consulting with our Tax Advisory Group and other member tax liaison groups.  

Throughout the year we ask for member’s thoughts and feedback on Inland Revenue consultation items, if an item is of interest to you or your clients, we’d love to hear from you.  

If you’d like to discuss current or upcoming advocacy work get in touch with our Member Knowledge Specialist.  

Please note that as an advocacy unit, our NZ Tax Team is prevented by our liability from providing tax advice. 

Connect with the NZ Tax team

Members are encouraged to stay engaged in the consultation process and share suggestions and feedback

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Discuss current or upcoming advocacy work

If you’d like to discuss current or upcoming advocacy work get in touch with our Member Knowledge Specialist.

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