Date posted: 14/08/2019 4 min read

Recent New Zealand consultations

Recent advocacy by Chartered Accountants ANZ in New Zealand.

In Brief

  • Recent CA ANZ advocacy activities
  • Recent CA ANZ submissions
  • Finalised Inland Revenue Items

CA ANZ Advocacy

 The NZ Tax Team has had the opportunity to consult on a number of pre-consultation Inland Revenue items in the past month. The purpose of these pre-consultations is often to canvas larger issues and refine items which will be going to public consultation to ensure the position is largely sound and in the best public interest. As part of the release of the 2019-20 tax policy work programme, Inland Revenue also released the updated policy engagement framework which describes the public consultation process in more detail.

In late August we made a submission to the Productivity Commission focusing on the vacant residential land tax question of their Local government funding and financing: Draft report. The Commission were charged with reporting back to the Minister of Finance on whether a vacant residential land tax would be a useful mechanism to increase supply of land available for housing in response to the Tax Working Group recommendations. A copy of our submission is available below.

The team also made a submission to Parliament on the Taxation (Kiwisaver, Student Loans, and Remedial Matters) Bill 2019 on 4 September. This Bill included a number of proposed remedial items and also lays out phase two of the Research and Development Tax Credit Incentive scheme. A proposal in this Bill also intends to address an issue between Inland Revenue’s FIRST and START systems, where the differing methods for calculating and rounding provisional tax instalments may be resulting in small underpayments (and therefore UOMI charges). At the time of writing the dates for oral submissions on this Bill before the Finance and Expenditure Committee have not been set, however CA ANZ will be making an oral submission to the Committee. A copy of our submission will be available following our oral submission. 

CA ANZ presentations and events

NZ Tax Leader, John Cuthbertson, presented a broad overview of current taxation issues and changes to the Womens’ Accountants special interest group in late August, including an update of Business Transformation, a review of the R&D Scheme, recent digital taxation consultation, and a number of recent Inland Revenue statements. John also spoke to our members in Public Practice on the NZ Tax Teams advocacy role and some of our recent projects.

The 2019 Tax Conference is quickly approaching, and the team are busy preparing for another great event. If you haven’t already seen the conference programme we have a fantastic line up this year, covering a wide range of issues and topics.

Recently Finalised Items

CA ANZ has recently submitted on a number of items including:

The Taxation (Kiwisaver, Student Loans, and Remedial Matters) Bill 2019

Copies of our submissions can be found below

Have you say on our open for consultation items

There are a number of submissions due in the coming weeks and we invite members to share their views on these items.

View open items

Inland Revenue have recently published the following finalised items

These items have been published in the August Tax Information Bulletin. 

  • BR Pub 19/01: Income tax – salary and wages paid in crypto-assets
  • BR Pub 19/02: Income tax – bonuses paid in crypto-assets
  • QB 19/10: Donations: What is required to establish and maintain a fund under s LD 3(2)(c) of the Income Tax Act 2007?
  • QB 19/11: GST - administrative or management services provided by an unincorporated body to its members
  • IS 19/03 - Income tax - exempt income of non-resident entertainers
  • OS 19/03: Square metre rate for the dual use of premises

Final IR Items

The Recently finalised Inland Revenue items are included in the August Tax Information Bulletin.

Read the latest TIB here

Connect with the NZ Tax team

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

Send Your Comments

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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