Beware – common errors in trust disclosures
Common mistakes to avoid when complying with NZ domestic trust disclosure rules as the end of the 2022 tax return filing season fast approaches...
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Christmas expenses: What is deductible?
Before you get too far into your office party planning, it is important to understand what expenses are fully deductible and/or liable for Fringe Benefit Tax (FBT)...
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Property purchase or business set-up costs – How can I get the GST back?
What you need to know about obtaining a GST refund...
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Scope of domestic trust rules should be reduced
Amendments should be made to reduce the scope of the domestic trust disclosure rules...
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Key GST apportionment changes in the recent tax bill
The GST apportionment rules can be a source of frustration to those looking to apply them. Following a review, Inland Revenue has introduced several amendments into the current tax bill to make it...
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Time for FBT overhaul
Inland Revenue (IR) recently released its findings from a regulatory stewardship review of the fringe benefit tax (FBT)...
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Taxation of cryptoassets is taking shape
CA ANZ has been speaking to the Government about how best to address cryptocurrency taxation...
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Parents trapped: application of land sale rules to co-ownership changes
Inland Revenue recently published Interpretation Statement 22/03: “Income tax - Application of the land sale rules to co-ownership changes and changes of trustees”...
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Should sale of shares be treated as a dividend?
CA ANZ New Zealand Tax Leader John Cuthbertson suggests any proposed integrity measures should solely focus on aligning with the problem definition...
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Tax administration in a digital world
CA ANZ broadly supports introducing measures to simplify and enhance compliance, lower compliance and administration costs, and drive efficiencies and productivity...
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Recognition of NZ audit firms
Legislative amendment to enable NZ audit firms to be appointed as auditors of Corps Act entities...
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Revised NZ Insolvency Services Standard
The NZ Regulatory Board has updated the NZ Insolvency Engagement Standard to reflect the new NZ insolvency practitioners’ regime and changes made to the NZ Code of Ethics...
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Purchase Price Allocation Rules now apply
Members acting for clients in the sale and purchase of a business or commercial property should be aware that new rules now apply to the allocation of the sale price to the different asset classes...
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Revised NZ Financial Advisory Services Standard
The NZ Regulatory Board has updated the NZ Financial Advisory Engagements Standard to reflect changes made to the NZ financial advisors’ regime and the NZ Code of Ethics...
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NZ Budget 2021 - A tax-light budget, but clarity and certainty still needed
With just one core initiative, are tax budgets a thing of the past? Inland Revenue has announced funding for data collection on high net worth individuals and their related entities...