Date posted: 27/11/2017 3 min read

New Zealand Tax Update – November 2017

Recent developments in New Zealand tax.

In brief

  • Minister of Revenue opens the CA ANZ Tax Conference
  • CA ANZ/TMNZ IR Satisfaction Survey results
  • Tax Bill reinstated

Minister of Revenue opens the CA ANZ Tax Conference

The Minister of Revenue, the Hon Stuart Nash, delivered the opening address to over 290 tax experts and professionals at the 2017 CA ANZ Tax Conference

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CA ANZ/TMNZ IR Satisfaction Survey results

What training priorities members want to see for next year’s roll out of the new income tax system and what members think about recent provisional tax changes are revealed in the 2017 CA ANZ/TMNZ IR Satisfaction Survey

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Tax Bill reinstated

The Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Bill has been reinstated by the coalition Government.  The Bill introduces changes to:  reporting by employers of PAYE information; reporting of investment income information by payers of interest, dividends and Maori authority distributions; the taxation of benefits from employee share schemes.

Also included in the Bill are a number of remedial and policy changes including:  giving the Commissioner of Inland Revenue the discretion to issue IRD numbers to non-residents who do not have a ‘functional’ NZ bank account if the Commissioner is satisfied with the applicant’s identity; excluding from the dividend rules certain transfers of shares received by NZ shareholders as a result of a company split (demerger) by a listed Australian company; distinguishing between a trustee’s personal or body corporate capacity and their separate trustee capacity.

CA ANZ written submission

CA ANZ made a written submission on the Bill and appeared before the Finance and Expenditure Select Committee in July 2017.

Download submission

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