The Week In Tax: Recent Episodes
The Week In Tax
Tax changes how business and people live and work. Each week we discuss tax news and how it affects you. Tax is an important policy lever for Government and cross-border tax for global corporations is an issue for Tax and Fairness.
This week Inland Revenue cracks down on the horticultural sector. Meanwhile the election campaign hots up as Labour pitches to small businesses while National promises no new taxes on working people. Finally Inland Revenue gets mob-handed with an 85-year-old.
Charities Review Authority confirms the Commissioner’s denial of deductions was correct and how a 70% effective marginal tax rate applied on just $2,000 of income
Charities Review Authority decision regarding the deductibility of seismic strengthening expenditure, but how does that decision fit within wider policy. A Technical Decision Summary highlights the perils of poor record keeping and as the election campaign ramps up we take a look at the contrasting tax philosophies emerging.
centre in the run up to the election as scrutiny week highlights issues with global tech companies and a Green Party tax policy that might get adopted regardless of who forms the next Government.
This week does the new $100,000 threshold for the FIF regime mean FIF investors are wealthy, Inland Revenue's major consultation on GST and Ford Motors loses its battle with Inland Revenue over transfer pricing
More on the Budget as the detail emerges, including changes to FBT, foreign investment fund, thin capitalisation and more. Also a new double tax agreement with the United Kingdom is signed
More on the Australian Budget and changes to the taxation of discretionary trusts, is New Zealand a tax haven, Google’s 2025 results highlight the Big Tech, Little Tax problem and what might be in the Budget next week.
(i.e. money) and controversial Australian Budget changes to Australia’s capital gains tax may have a silver lining for Kiwis.
This week, Inland Revenue consults on the roles and regulation of tax agents and other tax intermediaries, the capital gain problem for UK based beneficiaries of trusts and how migrants are an increasingly critical source of taxation.
This week, Inland Revenue “reminds” crypto-asset investors that they need to get tax compliant, a report for the Finance Minister reveals how much extra tax has been paid because of fiscal drag and the European Commission publishes a major report on Wealth Taxation
This week I'm joined by a team from Tax Justice Aotearoa including Glenn Barclay, the chair , Bill Rosenberg, a member of the last tax working group, Nick Miller a former Inland Revenue officer, and Kate Stone who is also campaign manager for the Better Taxes Campaign. We discuss Tax Justice Aotearoa's just released Tax Policy Statement.
Inland Revenue gains another tool for its crypto-asset activities, a useful case highlighting the hidden traps of the financial arrangements regime and Iran and the All Whites might have a bigger opponent in the US Internal Revenue Service
fuel relief package comes into effect but other changes effective from 1st April bite into that package and problem of low abatement thresholds remains. With terminal tax payments coming up new tax bill provides more options around tax pooling and Inland Revenue warns of cyber attacks.
Changes to thin capitalisation and student loan debt relief announced, Inland Revenue issues warning over employers failing to pass on tax deductions and some suggestions for providing timely targeted and temporary relief for those most affected by the surge in petrol prices.
The Finance and Expenditure Committee report on the Taxation (Annual Rates for 2025–26, Compliance Simplification, and Remedial Measures) bill contains good news for holders of financial arrangements, meanwhile the controversial Inland Revenue shareholder loan proposals hit a major roadblock. And finally property flippers should beware.
This week more insights on Inland Revenue’s investigation priorities, how the Iranian Crisis is affecting tax exiles and a poll suggesting New Zealanders support more taxes on ultra-rich coincides with Tax Justice Aotearoa’s release of a Wealth Tax Policy Note on the high concentration of wealth in New Zealand
option for UK pension scheme transfers to QROPS, Inland Revenue is consulting on banking taxation changes, and an interesting and useful Taxation Decision Review relating to foreign investment funds
It’s only February but the main tax drivers for the year seem already set, Inland Revenue’s crackdown on debt will continue as will its investigation activities with Crypto-assets under particular scrutiny, the US carves out special treatment for its multinationals, and finally it’s election year so expect plenty of politicking around tax.
This week, a potentially unwelcome consultation affecting the taxation of not-for-profits and a look back at the year that’s been, the surprises and big themes.
This week we discuss yesterday's bombshell proposals from Inland Revenue about changing the tax treatment of company loans to shareholders. One of the most significant changes to the taxation of small and medium enterprises in recent years.
My guest this week is Tony Morris from Inland Revenue who has key responsibility for managing tax debt. We discuss the nature of the $9.3 billion debt and what new initiatives Inland Revenue has introduced to maximise recovery.
This week we look at Inland Revenue’s annual report for the year ended 30th June 2025, how it is managing its responsibilities and tax debt and the results of additional funding.with Oracle New Zealand’s May 2025 results highlight the issues identified in Tax Justice Aotearoa's Big Tech, Little Tax report.An interesting Official Information Act request reveals how many taxpayers are reporting foreign investment fund income.
This week the Government releases a “refreshed” Tax and Social Policy Work Programme and Inland Revenue’s updated draft interpretation statement on the deductibility of repairs and maintenance expenditure has a controversial take on the treatment of leaky buildings.
My guest this week is David Tzimenakis co-founder of the US Tax Team, an Auckland-based firm providing American tax services primarily to American citizens living here in New Zealand. We discuss the complex issues involved with United States taxation of New Zealand residents and his initial thoughts on the proposed Foreign Investment Fund Revenue Account Method.
This week an important decision regarding the taxation of cryptoassets, Inland Revenue’s crackdown on debt continues., a new report from Tax Justice Aotearoa on the taxation of capital gains in the OECD and comparable nations and the Governments new job seekers policy results in an effective marginal tax rate of 1,394,200%
This week raising the rate of GST to 32% and the age of entitlement for New Zealand Superannuation to 72 are two of the more eye-catching suggestions in Treasury’s latest statement on the country’s long-term fiscal position, the income tax implications of providing sponsorship & changes to Family Boost take effect
My guest this week is John Cuthbertson FCA from Chartered Accountants Australia and New Zealand (CAANZ) and head of CAANZ's tax team.We discussed CAANZ’s public advocacy role, the Generic Tax Policy Process, the Taxation (Annual Rates for 2025−26, Compliance Simplification, and Remedial Measures) Bill and how CAANZ would go about submitting on it.
This week the OECD releases its Tax Policy Reforms 2025 report, happy 40th Anniversary to Australia’s CGT, what does the public think about CGT and an international expert gives his view on the challenges facing our tax system.
This week more on the Taxation (Annual Rates for 2025−26, Compliance Simplification, and Remedial Measures) Bill and last week’s NZLS Tax Conference, "Big Tech, Little Tax" a report on tax minimisation in the technology sector highlights the low income tax bills of companies such as Amazon and Google, and how do tax agents rate Inland Revenue's performance?
Tthe recently released Taxation (Annual Rates for 2025−26, Compliance Simplification, and Remedial Measures) Bill is noteworthy for as much as what’s not included and do we really need a comprehensive capital gains tax, a provocative highlight from the New Zealand Law Society’s 2025 tax Conference.
My guest this week is Casey Plunket formerly of Inland Revenue NZ after 25 years as a tax partner in major law firms. Casey is now off to Paris to work at the OECD.We discussed Casey's career, what prompted his move to Inland Revenue and his reflections on the state of the New Zealand system and the tax landscape here in New Zealand.
My guest this week is Angus Ogilvie, Managing Director of Auckland based Generate Accounting and also the chair of accounting body CPA Australia's New Zealand Tax Committee. Angus joins me to discuss Inland Revenue’s long-term insights briefing Stable bases and flexible rates: New Zealand’s tax system
This week rising overdue tax debt reveals inconsistencies in Inland Revenue’s management of the issue, could a capital gains tax help solve the house-price affordability crisis? And how many taxpayers are reporting overseas income?
This week how Australian capital gains tax can apply to the sale of a New Zealand property, CPA Australia suggests it’s time to consider a capital gains tax, more on effective marginal tax rates and the meaning of 'payment' for GST purposes.
How a family earning under $60,000 can face an effective marginal tax rate of 71.2%, the Green Party and the Taxpayer's Union agree on a tax change and Inland Revenue updates its guidance on when a taxpayer is carrying on a "business" for income tax purposes.
This week, Sir Roger Douglas enters the chat on the future shape of New Zealand’s tax system, the pros and cons of raising GST to 18%, the first ever sentencing for possession of tax evasion tools and a useful technical decision summary on payments to non-resident contractors.
The Finance Minister eyes up the major banks for a tax increase, announces changes to the FamilyBoost scheme, Inland Revenue releases submissions on the taxation of not-for-proftis and a major report on climate adaptation ducks a key issue.
This week, Inland Revenue’s draft long-term insights briefing goes out for consultation, have the G7 killed off Pillar Two and is it time for a major rethink of the Student Loan scheme?
John Cantin and I discuss Inland Revenue's recent trust disclosures post-implementation review and John's independent review of the trust disclosure regime. What are the purposes of such reviews and what John found surprising.
This week Inland Revenue reminds everyone that twin-cab utes are subject to FBT The results of a clampdown on the horticultural sector A damning new report from the IMF highlights New Zealand's low productivity growth is this a by-product of not taxing capital? And is the era of supply side economics over.
Why the Government backed away from charities taxation reform, the latest Rich List re-ignites the wealth tax debate, Inland Revenue’s new kilometre rates for the 2025 tax year have a surprise and how long does it take Inland Revenue to answer the phone?
This week more on the Budget announcements, including concerns from the former independent advisor to the last Tax Working Group about the efficacy of the Investment Boost initiative, how Inland Revenue will use its additional funding and the Digital Services Tax is dead but what takes its place?
This week Inland Revenue consults on the taxation of mutual transactions of associations, including clubs and societies. We discuss its latest update about n its crackdown on student loan debt. We look ahead to next week's Budget and the Green Party's alternative. Finally, it’s Tax Freedom Day and also a Happy Anniversary to me.
What has Mickey Mouse got to do with our tax system, Inland Revenue uncovers more than $150 million in undeclared income tax and GST from the property sector, and I have five suggestions to improve our tax system.
My guest this week is Matt Edwards, the (newish) CEO of tax pooling company Tax Management New Zealand. We discussed tax pooling, how his non-tax background offers interesting insights into the operation of tax pooling and the tax system, and the opportunities tax pooling offers for small businesses in particular.
This week Inland Revenue consults on FBT changes, reports on the results of its recent audit activity, and calls in Baycorp. Meanwhile, is GST a tariff and removing GST from fresh fruit and vegetables a well-meaning but inefficient policy?
This week the United Nations statement on tax policy concerns over rising GST debt, the Australian budget and an absurd VAT (GST) case from the UK involving Mega Marshmallows.
This week, get ready for tax year end - what needs to be done by 31st March, lessons from the largest known GST fraudster – could it happen again and corporate tax cuts – who benefits and what does the public think?
This week, the International Monetary Fund suggests a comprehensive capital gains tax, the Government will proceed with changes to the foreign investment fund regime and a novel proposal for helping fund New Zealand Superannuation.
My guest this week is Richard Abel, Chair of the Accountants and Tax Agents Institute of New Zealand (ATAINZ). We discuss the role of ATAINZ and tax agents generally and interacting with government. We also look ahead to ATAINZ's annual conference starting today which will be opened by the Minister of Finance Nicola Willis.
This week, the Finance and Expenditure Committee reports back on the Taxation (Annual Rates for 2024−25, Emergency Response, and Remedial Measures) Bill, Inland Revenue releases its long-awaited consultation on the taxation of not-for profit organisations and an update on data-sharing with the United States and the nominee for the Internal Revenue Service Commissioner once proposed its abolishment.
This week as President Trump blows up the international tax order, could our Netflix tax be under threat of retaliation? Time running out for a potentially important GST election and notes from this year’s International Fiscal Association conference.
This week tax guru Robin Oliver on the pros and cons of a possible cut in the corporate tax rate, Netflix’s tiny tax bill and what it and Uber have in common, and Inland Revenue guidance on the treatment of repairs to newly acquired assets.
This week are corporate tax cuts on the Government’s agenda? Could our digital services tax be a target under President Trump? And the UK grants an extra concession on its controversial non-dom reforms.
The Government announces a new Digital Nomads visa but will it make any difference to the existing tax treatment? Potentially big changes afoot for US citizens tax resident outside the US and the latest Inland Revenue consultation on depreciation.
President Trump sets the tone for the tax year by withdrawing America from the OECD Two-Pillar international tax proposal and fires a warning shot about retaliatory tax proposals. Meanwhile is the recent increase to the International Visitor's Levy a harbinger of things to come? Inland Revenue's crackdown on parents receiving overpayments of working for families credits.
Inland Revenue releases an issues paper on addressing the problems the foreign investment fund regime presents for migrants and US citizens and we look back at the year in tax
This week the Minister of Finance reveals that changes to the tax treatment of charities will be announced in next year’s Budget, more feedback on Inland Revenue’s proposed long-term insights briefing and are cryptoassets held in offshore exchanges covered by the transitional resident’s exemption?
2024 peer review update from the OECD on the Automatic Exchange of Financial Account Information and how Inland Revenue is using that dataInland Revenue releases feedback on the scope of its next long-term insights briefing together with a summary of the submissions we received. What has Roger Douglas got to say?More on last week's podcast with guest Andrew Paynter
My guest this week is Andrew Paynter, a policy advisor at Inland Revenue and co-winner with Matthew Seddon of this year's Tax Policy Charitable Trust Scholarship. The Tax Policy Charitable Trust was established by Tax Management New Zealand and its founder Ian Kuperus to encourage future tax policy leaders and support leading tax policy thinking in Aotearoa.Andrew’s proposal is to increase the rate of GST to 17.5% and introduce a GST refund tax credit for low- and middle-income individuals.
This week, the Government’s tax and social policy work programme is announced, more on Inland Revenue’s crackdown on Student Loan debt, and why we might need to pay more tax
An in-depth look at Inland Revenue's latest report - a good year overall but rising tax and student loan debt remains an issue.
Rachel Reeves, the first ever female Chancellor of the Exchequer delivers a UK Autumn Budget with potentially significant implications for many Kiwis and Britons who have migrated to New Zealand.Meanwhile Inland Revenue's crackdown on tax evasion continues.
This week, surprising stats around the number of taxpayers reporting foreign investment fund income, the winners of this year's Tax Policy Charitable Trust Scholarship are announced and a preview of next week’s United Kingdom Budget
This week notes from a joint podcast with www.interest.co.nz with Dr Andrew Coleman on his proposal for funding the rising cost of New Zealand Superannuation. Time for a KiwiSaver 2.1?Inland Revenue is consulting on deduction notices - time to rethink their useHow many anonymous tip-offs each year does Inland Revenue receive and how many businesses is it auditing?
This week my guest is Matthew Handford, a solicitor in the Mayne Wetherell tax team and another of the four finalists for this year's Tax Policy Charitable Trust Scholarship competition.The Tax Policy Charitable Trust was established by Tax Management New Zealand and its founder Ian Kuperus to encourage future tax policy leaders and support leading tax policy thinking in Aotearoa.Matthew is proposing a Tax Law Commission, independent of Inland Revenue, to restore the Generic Tax Policy Process. Under Matthew’s proposal, a TLC would have a standing mandate to systematically review the operation of New Zealand’s tax laws and make recommendations for their improvement.
This week, we look at the OECD’s 2024 edition of Tax Policy Reforms, the ACC crack down on overseas earners, Inland Revenue responds to criticism of its use of social media and not only will you earn more in Australia, apparently the tax refunds are bigger, or are they?
This week Inland Revenue releases draft guidance on FBT and motor vehicle travel between home and work, the Two-Pillar solution for international tax inches forward, and the capital gains tax debate gets spicier.
In te Wiki o te Reo Māori, Māori Language Week, we look at Māori taxation and business. Is the current GST threshold holding back small businesses? More evidence of Inland Revenue’s crackdown on non-compliance and new research fuels the debate about taxing capital.
The taxation of capital is back in the news. Should the New Zealand Superannuation Fund become tax exempt? Inland Revenue is under scrutiny for its use of social media. A bad week for Apple and Google in the European courts Inland Revenue releases an intriguing consultation on GST and management services supplied to managed funds
My guest this week is Claudia Siriwardena one of the four finalists for this year's Tax Policy Charitable Trusts Scholarship.We discuss her proposal for a simplified fringe benefit tax regime for small businesses
The Taxation (Annual Rates for 2024-25, Emergency Response, and Remedial Measures) Bill is releasedInsights from 10 years of Inland Revenue's transfer pricing questionnairesInland Revenue starts knocking on doors about overdue tax debt
This week, Inland Revenue consults on the scope of its next long-term insights briefing. How to deal with recipients of paid parental leave with tax underpaymentsA bizarre tax avoidance case from the UK involving snails
This week Inland Revenue cranks up the pressure on liquor outlets, issues draft guidance on the taxation of share investments and tax and the Olympics, a cautionary tale involving Snoop Dogg
This week, an inland revenue ruling highlights the care needed when using look-through companies, I answer a reader’s question and I celebrate 20 years in business with a look back at the last 20 years in New Zealand tax.
Matthew Seddon, one of this year's finalists in the Tax Policy Charitable Trust prize competition, discusses his suggestion to expand the withholding tax regime to contractors. This is one way of addressing the tax gap identified by the last Tax Working Group in 2018.
This week Inland Revenue’s updated property tax decision tool and the potential implications for shared housingIncreasing doubts about the international tax deal, is it time to revisit first principles?Is our international tax regime turning migrants away?
Latest OECD Corporate Tax Statistics report has a wealth of data including signs that corporate tax rates have stabilised after a long period of declineInland Revenue releases draft guidance for consultation on identifying relevant item of property for depreciation purposesFurther evidence of Inland Revenue's increased enforcement activities
This week a deep dive into the Public Service Commission's recently released Performance Improvement Review of Inland Revenue. What makes it a "high-performing" organisation, what can it do better and what risk is it perhaps under-estimating?
Inland Revenue announces a crackdown on crypto-asset investors and traders, The 2023-24 kilometre rates for business vehicle use are released The Tax Policy Charitable Trust announces the four finalists in this year's scholarship competition
This week, Inland Revenue releases guidance on when a subdivision represents a taxable activity for GST purposes and the tax treatment of loans to shareholders and employees. The G20 puts forward a blueprint for taxing billionaires.
This week, the Ministers of Finance and Revenue get scrutinised by the Finance and Expenditure Committee.Charities use of the tax exemption to come under review. Insights from an Inland Revenue hidden economy campaign targeting smaller liquor outlets and more on effective marginal tax rates.
This week we reviewthe Regulatory Impact Statements released alongside the Budget tax measures and ask is it time to regularly index income tax thresholds? Inland Revenue releases it operational position on the GST treatment of landlords supplying properties for use as transitional housing
This week a preview of what tax measures might be in Thursday's Budget. What could Finance Minister Nicola Willis do to cover the cost of the tax threshold adjustments and where might Inland Revenue get additional funding for investigations and enforcement?Also the UK election and the latest fallout from the ATO's raid on Exclusive Brethren related businesses.
The Australian Budget is released - what clues for the coming New Zealand BudgetFacebook New Zealand's 2023 results show the scale of the advertising revenue going offshoreTreasury's blunt warning ahead of the Coalition Government's December Mini-Budget
In her first pre-Budget speech the Finance Minister Nicola Willis confirms tax threshold adjustments will be part of this year's Budget.Meantime the OECD calls for a capital gains tax and I reflect on 40 years in tax - what's changed or not changed..
A quiet week in the tax world - but is this the calm before the storm of this year's Budget?The latest OECD report on taxing wages shows the tax wedge rising in most countries including New Zealand.
This week a special episode with guests Rob McLeod, Robin Oliver & Geof Nightingale in which we discussed the following:What does make a good tax system and where does New Zealand presently sit? The current broad-base, low rate approach is under strain. How do we address that? What can we do to keep/ preserve that as far as possible?Rob McLeod about the risk-free rate of return method as an alternative to a capital gains tax How effective is current oversight of Inland Revenue - 30 years on from the Richardson review is it time for another look? What surprises them in the tax world right now?What one proposal from your respective tax working groups would you like to see implemented?
The Government is considering a review of the charitable exemption for religious organizations this term Canada loses patience and imposes a Digital Services Tax effective 1 January 2024Inland Revenue appears to be gearing up for a fringe benefit tax initiative.
This week Inland Revenue gets tough with the construction industry over outstanding debt and tax evasionInland Revenue releases three special reports regarding the changes to the platform economy rules, the 39% trustee tax rate and the new 12% Offshore gambling duty
The new Apps Tax causes confusion for some non-GST registered operators Treasury Analytical Note examines the effects of taxes and benefits for the 2018-19 tax yearThe Australian Tax Office gets heavy with the Exclusive Brethren – will Inland Revenue follow suit?
The IMF suggests a CGT & gets rebuffedBright-line test red flagsHow to tax wealthIMF and Climate Change Commission suggest changes to the Emissions Trading Scheme are needed
This week, clarity about the application of the 39% trustee rate and the timeline restoring interest deductibility for residential investment.Inland Revenue does not consider removal of commercial buildings depreciation "to be a fair and efficient way of raising revenue".New 12% online Gaming Duty still leaves $500 million gap in the Government’s tax package.
The UK's Spring Budget drops a big change which will affect tens of thousands of Kiwis and British expats with the end of the remittance based taxation regimeMore on UK trust filings and why are there so many trusts in New ZealandFinancing local government, time for change?
Hints that the new 39% trustee tax rate might not apply to all trusts and tax stats indicate New Zealand may have more trusts than the UK despite having only a 13th of the populationWhat connects Pillar One & Pillar Two with the collapse of NewshubNew draft Inland Revenue guidance on employee share schemes
Highlights of this year’s International Fiscal Association conference;A suggestion for the new Minister of Revenue about tax simplification; and What tax tattoo would you have?
This week our guest is Tracey Lloyd, Service Leader Compliance Strategy Innovation at Inland Revenue, and we discuss how Inland Revenue's new START system enables it to detect fraud.
This week Treasury talks about the elephant in the room, capital gains tax, in its briefing for the new Finance Minister;Inland Revenue releases consultation on the extent to which business income a charitable entity derives is exempt from tax; and A Waikato sharemilker who used COVID support money on online gambling gets found out by CSI Inland Revenue.
A busy start to the tax year with the release of the first (and only) draft report under the now repealed Tax Principles Act and the Briefing to the Incoming Minister of Revenue; Inland Revenue give some initial guidance about the implications of the likely 39% trustee; and tax rate threshold adjustments or tax credits - we discuss ACT's tax proposals.
The Climate Commission & COP28, A useful suggestion from the UK on taxing EVsAn interesting case on staff retention payments Another tax case shows how not to use ChatGPT in a tax case What’s the character of the year?
Inland Revenue launches a campaign targeting potential tax avoidance by higher rate taxpayersWhat deductions can you claim when you rent a room in your home to a flatmateInland Revenue approves a product ruling enabling employees to provide e-bikes & e-scooters free of FBT An interesting Official Information Act release on interest deductions.
This week, more on the Coalition Government’s tax policies and the accelerated restoration of interest deductibility, To raise revenue, why not tax marijuana? Several Inland Revenue Technical Decision Summaries illustrate the perils of omitting income
The Coalition Government reveals its tax policies and there’s a surprising new Revenue Minister,Two recent Inland Revenue reports may be of interest to the new GovernmentHappy 20th Birthday to the New Zealand Super Fund
This week, is Inland Revenue gearing up for a review of GST registrations where there are consistent refunds Updated guidance on when a subdivision project a “taxable activity” for GST purposesGood news for those who may have been non-compliant in relation to reporting Foreign investment fund income
How did Inland Revenue fare during the year?What challenges lie ahead for it and the incoming minister of revenue, whoever that might be?
This week is a new multilateral convention a step forward towards an agreement on international tax or are we just spinning wheels?An interesting Inland Revenue technical decision summary on the foreign investment fund regimeHow practical is a financial transactions tax? What now after the election?
Has Inland Revenue dropped the ball regarding management of Child Support debt?The US Internal Revenue Service issues Microsoft with additional tax demand for US$28.9 billion National's proposed foreign buyers tax, new data from the ATO on the Australian experience
Is it time for an independent fiscal costing unit to check out parties promises during elections?An Australian case highlights the problems around removing GST from foodAs the Government's financial statements for the year ended 30th June 2023 are released instead of tax cuts do we actually need more tax?
This week, is it time to rethink child support payment process? The FBT prescribed rate of interest to increase,Flood affected homeowners find out about the perils of putting your home in a trustNew survey widespread support for taxes on capital gains and windfall profits
What does the father and son landlords who own more than 100 homes say about our tax system? Why does the New Zealand Superannuation Fund pay tax?ACT’s updated alternative budget dials back its tax cut package
The departing CEO of the New Zealand Superannuation Fund questions its tax status. Inland Revenue announces a review of the rules relating to the donation tax credit. A new policy framework for managing debt owed to the government PREFU's $5 billion hole in the government books no one is worried about
This week, the Government moves to fix a Cyclone Gabrielle related bright-line test issue, more harsh lessons about underestimating Inland Revenue and politicians dive into a "very esoteric" area of tax law.
The Taxation Principles Reporting Bill passes - how would Labour and National's tax proposals stack up against it?A digital services tax bill introduced, and National’s tax policy is launched, a case of looks good from far but far from good?
This week I discuss the current state of trusts with trust lawyer Tammy McLeod. What's changed since the Trusts Act 2019 came into force, what are the risks and what's the future for trusts?
The current state of the Generic Tax Policy Process and when does consultation become lobbying?
Changing the rules around disposing of trading stock
How do we pay for managed retreat?
Tik-Tok & GST fraud
A look at the Labour Party's announcements about GST zero-rating fresh & frozen fruit & vegetables & changes to working for families
Inland Revenue draft guidance on GST groups
Notes from the Trans-Tasman International Fiscal Association conference
How Inland Revenue could do more to help spot businesses in trouble & better manage overdue debt
Use of money interest rates set to rise
Upstart Nation, the Startup Advisors Council suggests changes to the tax system in a key report
The new Minister of Revenue returns to her old stomping grounds
Inland Revenue launches a pilot programme for the construction industry
Is Labour about to adopt Te Pati Māori’s tax policy on GST and food?
Inland Revenue releases guidance on the research & development loss tax credits regime
OECD announces progress on the global minimum tax deal
Phillip John Smith gets caught again
A look at the abandoned proposals in the recent Budget for a wealth tax and tax free threshold as part of a tax switch
Inland Revenue comes under fire for its lack of tax investigations
Submissions on latest tax bill including the proposed trustee tax rate increase close next Friday, what's proposed?
An important working paper from the IMF on the taxation of cryptoassets
Latest government financial statements show a falling corporate income tax take
After 14 years is it time to increase the GST threshold?
Converting residential investment property to Airbnb? Watch out for the GST trap
he Great Tax Debate: a wealth tax is the best solution to wealth inequality
Dame Diana Crossan discusses her time as Retirement Commissioner & the big changes to the retirement landscape she helped initiate.
Diana also explains why she was one of the first 97 signatories of the Open Letter on Tax
The Green Party' wealth tax proposal blows up the tax discourse
The IMF suggests, again, it’s time for a capital gains tax
The OECD’s Crypto-Asset Reporting Framework comes into force
Auckland Council finally agrees a budget
Due date for submissions on the Tax Principles Reporting Bill
Australian Tax Office ruling on residency - time for a clearer statutory definition?
Applying for Australian citizenship? Watch out for the sting in the tail.
This week Inland Revenue clarifies its position on trusts and tax avoidance & indicates further work on tax rate misalignment is neededFacebook & Google’s results indicate scale of BEPS issue Is the just announced Government voluntary buyout of 700 unliveable homes a harbinger of things to come?
Government introduces the legislation to implement the proposed Piillar Two global minimum taxMore on the proposed trustee tax rate increase, a long-standing over-taxation issue is resolved and a new tax principles act.
The almost no tax surprises Budget - an increase in the trustee rate but no action, yet, on tax rates and thresholds
Technical Decision Summary considers when leaky building repairs are deductibleSome interesting measures in this week's Australian Budget A look ahead to next week's New Zealand Budget
New tax relief measure for flood-hit taxpayersInland Revenue guidance on the implications of renting a room to a flatmateProvisional tax is due on Monday, what are the rules if you receive a one-off payment
This week economist Shamubeel Eaqub & I look at the Inland Revenue/Treasury reports on the true tax burden of the wealthy. What do these reports reveal and what are the possible alternatives to make a fairer tax system?
Sapere Research Group report kicks off a debate over the true tax burden in New ZealandInternal Revenue Service report on FATCA data gives a clearer picture of how much wealth is held offshore and the returns on that wealthInland Revenue guidance around the bright-line test for transactions involving family members
A warning about the new FBT exemption for bikes & public transportHow the interest limitation rules apply to providers of short-stay accommodationAre tax rises needed to meet impact of climate change & demographic change?
A taxpayer screws around & gets found out by Inland RevenueIs landlording a business like other businesses?Are breast implants tax deductible?
Five suggested actions before the end of the tax year on 31st March.Working for families reform under consideration and why it's needed.Should New Zealand adopt the UK Budget cash accounting for small businesses proposal?
Inland Revenue launches its tax toolbox for tradies to improve compliance in the construction industryThe Government introduces a surprise fringe benefit tax exemption The potential implications for New Zealanders from the UK's Spring Budget(PS my apologies for the sudden dead air near the end of the podcast - I forgot Jeremy Hunt's name)
Plenty to consider in Inland Revenue's latest Interpretation Statement on tax avoidanceWorking from home allowances updatedGST and Donation Tax Credit fraudsters convicted
Inland Revenue targets the construction sectionGST changes for the platform economy to proceed, Inland Revenue clarifies the GST treatment of a professional director’s feesTreasury’s suggestions for financing the effects of climate and demographic change
Latest tax developments in Cyclone Gabrielle responseSome suggested tax measures for responseTreasury's 2021 warnings about meeting fiscal challenge of climate change
This week we focus on what assistance is available from Inland Revenue for those affected by Cyclone Gabrielle
Terry Baucher discusses three major trends that could have an impact on tax policy, along with his hopes for 2023.
A look back at 2022, including a proposed Tax Principles Act, a dramatic u-turn. the Trusstastrophe, & what were the most listened to tracks of the year
This week we're talking with Vivien Lei, the winner of this year's Tax Policy Charity Scholarship about her proposal for an environmental impact weighted tax
A deep(ish) dive into the OECD's fourth edition of its corporate tax statistics and the revelations from country by country reporting.The Government's financial statements for the four months to 31st of October show the effect of fiscal drag.Inland Revenue consultation on the impact of provisional tax on employees who receive one-off amounts of income without tax deducted
This week when is a subdivision an undertaking or scheme? 72% of NZ tax advisors say it’s time for a capital gains tax Inland Revenue wins an international tax awardTaxes and the voting age
More on the proposed GST changes for the platform economy. Inland Revenue believes 70,000 incorrectly received a cost of living payment. The pros and cons of a tax-free threshold
UK report shows little benefit for consumers from VAT law changeThousands of Kiwis may be potentially subject to UK taxes such as Inheritance TaxAirbnb & Uber are not happy about new proposals
This week the Green Party suggests an excess profits tax & quotes Margaret Thatcher in supportThe Australian Tax Office’s latest Corporate Tax Transparency report The latest from the OECD on carbon pricing of greenhouse gas emissions.
We take a closer look at Inland Revenue's 2021-22 annual report. What's good, what's not so good and what's concerning?
Inland Revenue recovers $33 million of overpaid wage subsidy from multinationals, The Asia Initiative is launched More on the Supreme Court's decision in Frucor
OECD proposes a Crypto-asset reporting frameworkGovernment suggests a new levy for farmers greenhouse gas emissions and more about the politics and tax implications of changing tax rates ahead of next year's General Election
Change coming for GST record-keeping requirements, A controversial dissent by a Supreme Court Justice in a major tax avoidance caseGovernment's tax revenue exceeds $100 billion for the first time.
Inland Revenue gets ready to launch a campaign on FBT compliance
The Government ignored Treasury and Inland Revenue advice regarding its build-to-rent interest deductibility proposal
A few notes of interest on the British mini-budget
More details emerge regarding Inland Revenue’s handling of the cost of living payments
Doomed tax case highlights the need for change to taxation of backdated ACC compenstion
The OECD reports on Tax Policy Reforms over the past year
This week, Inland Revenue rulings illustrate the hidden traps of tax
Treasury points the finger at tax over the cost of housing
A long overdue Anti-money laundering ruling
More on the Royal finances.
This Inland Revenue releases its first long-term insights briefing, admits to not having the data to comment on the amount of non-compliance with FBT and is residential property under-taxed?
A new tax bill causes a massive storm but what happens next?
Also brief run-through of what other tax measures are in the Taxation (Annual Rates for 2022-23, Platform Economy and Remedial Matters) Bill. (TL:DR - a lot!)
This week, provisional tax is due so watch out for changes to the use of money interest rates and rules
Is it time for a residential land value tax
More on the looming shortfall in the National Land Transport Fund
Build-to-rent developers can be exempt from interest deductibility limitation
New report examines the role has tax played in the housing crisis
Inland Revenue draft guidance about the treatment of donations to private schools
This week, some interesting snippets from the Budget Information release including more on the cost-of-living payment,
The international tax implications of President Biden’s tax proposals
The state of the Internal Revenue Service
Inland Revenue remits over $100 million of interest in relation to COVID-19
What's going on with the Cost of Living payments?
The first climate change national adaptation plan is released, but what about paying for it?
NZ trusts may be affected by a looming deadline for trust registration in the UK
Why is Ivana Trump buried on a golf course?
Inland Revenue draft interpretation statement on tax loss carry-forward and continuity of business activities
Inland Revenue applies little-known provisions to find director personally liable for company's tax debts
What role for windfall taxes
Inland Revenue releases guidance on when buildings are depreciable
Who actually suffers the highest effective marginal tax rates in Aotearoa
OECD releases key report on the taxation of housing
This week, should we let Inland Revenue loose on the gangs?
The latest update from the OECD on the progress of international tax reform
A warning from Ireland about the risks of a low corporate tax rate,
and the Tax Policy Charitable Trust reveals its four finalists.
Inland Revenue gets on the case of those with overdue tax debt
Guidance on GST and director’s fees
Corporate income tax take is ahead of forecast
The Reserve Bank of New Zealand’s view of the housing market in an international context
This week we focus on international tax
Firstly, Inland Revenue launches its offshore tax compliance programme
Draft guidance on deductiblity of overseas travel costs
Facebook & BAT New Zealand's 2021 results
How are going to fund the National Land Transport Fund in the future?
Inland Revenue releases guidance on cash basis persons & the financial arrangements regime
Inland Revenue campaign targeting estate agents pays off
Google New Zealand’s latest results show need for international tax agreement
Some reflections on the International Fiscal Association’s 2022 conference
When are changes in co-ownership and of trustees "disposals" for the land tax provisions?
Is it time to reconsider the disputes process?
How about legalising cannabis & using the tax revenue to address the gangs issue?
Inland Revenue backs off on controversial proposals at the same time as a Technical Decision Summary illustrates why Inland Revenue believes change is needed
The role of tax in the Government's first emissions reduction plan
Latest on the OECD Pillar 1 & Pillar 2 proposals
Inland Revenue releases more details about the Cost of Living Payment
Kilometre rates for the 2021-2022 income year
Windfall taxes & wealth
A warning about the perils of thinking short-term
Inland Revenue raises concerns about its ability to deliver the Cost of Living payments
A potentially unwelcome GST surprise for farmers selling up
Latest updates from the OECD on international tax reform and the tax wedge
Inland Revenue consults on the OECD Pillar Two GloBE rules for New Zealand & has a new CEO
Working for families consultation
A look ahead to next week's Budget
Inland Revenue gets ready for tax return filing season
Inland Revenue cranks up its review of Covid-19 support payments
Some interesting insights emerge in the wake of Revenue Minister Parker’s speech last week
Provisional tax reminder
Minister of Revenue philosophizes on tax & proposes a Tax Principles Act
Deadline for submissions on two controversial tax integrity proposals
Inland Revenue guidance on what buildings qualify for depreciation
Inland Revenue use of money interest and prescribed rate of interest rates rise
Guidance on the reporting requirements for trusts released and
The potential New Zealand tax implications of a British political scandal
How does tax on New Zealand property compare with other countries?
The OECD consults on a new global tax transparency framework for crypto-assets
Inland Revenue warns against attempts to avoid 39% tax rate
Interest limitation rules and bright-line test changes now enacted
More Inland Revenue guidance on the financial arrangements rules
Matters of interest in this week's Australian Budget
A closer look at Inland Revenue’s proposals to counter top tax rate avoidance
Could tax changes make a difference to the cost of living
Get ready for tax year end
The Finance and Expenditure Committee reports back on the tax bill relating to the interest deduction limitation rules
Inland Revenue releases a swathe of consultation documents relating to GST apportionment, the gig economy & tax avoidance
New trust reporting standards released
The Government's new COVID support package.
The OECD Secretary General reports on progress on the new multinational tax deal & other initiatives
Polling suggests majority of Kiwis support a capital gains tax
Inland Revenue guidance on the deductibility for income tax purposes of costs incurred due to COVID-19,
Inland Revenue releases an issues paper on the future of tax administration in a digital world,
The tax perils of not taking advice before migrating.
Inland Revenue operational statement on how PAYE applies in cross-border employment situations;
How to calculate foreign tax credits; and
Could the proposed Social Insurance scheme be a rorter’s paradise?
A look at the Government’s proposed income insurance scheme
Inland Revenue’s initial view on the impact of the new 39% tax rate
The OECD’s latest economic commentary on New Zealand
Now Omicron is here what support is available?
What next for international tax reform?
After Business Transformation what next for Inland Revenue and the future of tax administration?
The final podcast for the year discusses the latest Half Year Economic Update, Inland Revenue's latest Covid-19 update and then looks back at the biggest tax stories in 2021 - the OECD/G20 agreement on international tax & the Government's moves on residential property investment
Inland Revenue enlists the help of the Chinese Tax Authorities in a tax evasion case;
OECD report reveals the impact of COVID-19 on tax revenue
Inland Revenue turns off its old computer system
Latest Covid-19 developments
How Christopher Luxon's property portfolio is representative of the taxation of property debate
Inland Revenue releases draft statement on charities & donee organisations
My guest this week is Professor of Law Craig Elliffe of the University of Auckland. We discuss the huge changes to international taxation announced in late October and what they might mean for New Zealand and generally.
What Inland Revenue needs to do to improve the quality of tax legislation
Growing concerns about potential for misuse of new investigative powers for tax authorities
Time for a surcharge on the banking sector?
Tax and the law of unintended consequences - how perfectly rational decisions over appointment of a trustee or helping children purchase a house can have some very severe and unintended tax consequences.
Similarly how the abatement of working for families makes it harder for low-income earners to break out of poverty.
This week we focus on trusts in particular the new reporting requirements for trust and a concerning court decision from Australia.
We also review a harsh but not unexpected decision from the Taxation Review Authority regarding the taxation of arrears of weekly ACC compensation.
This week the latest Covid-19 updates
Extra time to file 30th September GST returns
A review of Inland Revenue’s June 2021 annual report
A closer look at the new bright-line test rollover relief provisions
Inland Revenue launches a new research project into high-wealth individuals
Feedback from last week's podcast
A first look at the new international tax agreement & its implications for New Zealand
Professor Lisa Marriott and I pore over Inland Revenue's debt management, its fairness & efficiency & options for change
A look at the bright-line test rollover relief included in last week's land tax proposals
Inland Revenue releases consultation on implications of land sales and changes of co-ownership and on issues for cross-border workers
What could be the fall out from the release of the Pandora Papers?
Draft interest limitation legislation including 20 year new build exemption, interest deductions on taxable disposals and the view of the Ministry of Housing and Urban Development
This week, a new report finds strong support for using tax to support the post Covid-19 recovery.
A look at the submissions to the Finance and Expenditure Committee's Inquiry into crypto currencies
The ATO launches a crackdown on disguised undeclared foreign income.
Latest Lockdown developments including third round of wage subsidy and second Resurgence Support Payment
NZ Super Fund pays $2.3 billion in tax on record $15 billion return
Using tax to fund NZ Superannuation
The Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Bill clarifies the GST treatment of cryptoassets,
Latest Lockdown developments
Treasury’s draft Long-term fiscal position considers whether taxes need to increase
This week, latest lockdown developments,
Inland Revenue issues new determination on allowances & on home office expenditure
Could a tax forgiveness programme help SMEs hit by Covid-19?
This week,the latest lockdown developments,
What to do if you can't pay provisional tax or GST
The perils of making payments to overseas beneficiaries
Reflections on the late Sir Michael Cullen
What Government support is available for businesses & self-employed affected by the lockdown?
What is the tax treatment of allowances for employees required to work from home?
Inland Revenue guidance on the tax implications of the Clean Car Discount
Latest on Inland Revenue’s audit activity
Insights from the OECD’s latest report on Corporate Tax Statistics
Time for a more generous approach to working from home allowances
Tax agencies stepping up scrutiny of crypto-assets
Former Treasury Chief Economist takes a swing at the Government’s tax policy.
Beware the great unknown of NZ tax - the financial arrangements regime
Not many happy about the interest limitation proposals
Time for a new approach - the fair economic return
Parliament's Finance & Expenditure Committee launches inquiry into cryptoassets, tax treatment of forks & hard drops
Deductibility of meal expenses of self-employed
Inland Revenue office closed for earthquake risk
The unintended consequences of the interest limitation proposals
A coming clampdown on the fringe benefit tax rules around twin cab utes
Inland Revenue updates its advice on non-cash dividends.
How the interest limitation rules will apply to taxable sales of property
Interpretation statement on income tax & GST treatment of businesses disrupted by the COVID-19 pandemic
Global minimum tax rate proposals
A look at the interest limitation rules and the proposed "new build" exemption
The OECD's latest Fighting Tax Crime, how does Inland Revenue measure up
The new purchase price allocation rules
A look at the G7’s agreement for a minimum corporate tax rate of 15%,
The role of tax in the Climate Change Commission’s final advice to the Government
FBT and what is a work related vehicle?
An overview of the Government's discussion document on the Design of the interest limitation rule and additional bright-line rules
An Employment Court case reveals Inland Revenue's extensive use of contractors
Google taking the Government for a ride?
And a warning about the new bright-line test
This week the Minister of Revenue is not happy with Google
How many ACC lump sums may be over-taxed
Inland Revenue updates the square metre rate for home offices
A look at the tax measures in the 2021 Budget including the proposal to hypothecate future sales of emission trading units, a possible social unemployment insurance and Inland Revenue reduces funding in investigations.
This week, a look at Tuesday's Australian budget, the fairness of taxing gains at 39% and progress on an international minimum tax rate
Time to rethink how we tax residential investment properties?
Latest Inland Revenue consultation on taxation of cryptoassets
A snapshot of Inland Revenue's audit activity in past year
An in-depth discussion with John Cantin of KPMG about the tax policy implications of the recent property tax changes and for the Generic Tax Policy Process
Inland Revenue launches a construction industry education campaign.
The continuing unfair tax treatment of lump sum payments
OECD data around the use of tax and Earth Day
OECD and a common reporting standard for cryptoassets
Lessons from 10 years of compulsory zero-rating and land transactions
A warning about trustees moving to Australia
Small Businesses and tax compliance, PAYE for employees of overseas companies
Managing fringe benefit tax
A global minimum corporate tax rate?
A closer look at the Government's shock property tax announcements
Four questions on the future of tax
First look at extension of bright-line test to 10 years and restriction of interest deductions for residential property investors
Inland Revenue fires a warning shot at real estate agents over claiming excessive deductions
The International Monetary Fund wades into the housing debate
Year end issues around overdrawn shareholder current accounts
Business loss continuity test & tax loss carry back
A review of working for families is underway and how abatement levels impact beneficiaries
Pre 31st March tax planning tips
Government announces a new business loss continuity rule
US drops 'safe harbour' demand as progress made on new international tax framework
UK Budget has inheritance tax & capital gains tax implications for Kiwis and includes surprise Corporation Tax increase
Observations on the International Fiscal Association conference
Covid Resurgence Support Payments applications go live
Inland Revenue/Treasury analysis of wealth in New Zealand causes a stir
An overview of the new Covid Resurgence Support Payment
What could be the implications of Facebook’s actions in Australia
Pre-31st March year end tax planning
This week more on the state of Inland Revenue’s Business Transformation programme,
Grant Robertson's warning to property speculators
Inland Revenue’s latest view on tax avoidance.
A look at the potential tax implications of the Climate Change Commission’s first draft advice to the Government
The latest from the OECD on international tax
Inland Revenue's tax policy priorities
A look ahead at the expected big tax themes in the coming year
The arguments for taxing property, a wealth tax, what might Joe Biden's presidency mean for international & environmental taxation and how will Inland Revenue respond.
A look back at the biggest tax stories of 2020:
The response to Covid-19, the ongoing debate about taxing capital, Inland Revenue's response and how well is its Business Transformation programme going?
Rod Spicer the associate director of claims and underwriting at Accountancy Insurance discusses how to use insurance to manage dealing with Inland Revenue and what investigation trends they are seeing
A first look at the tax bill increasing the top tax rate to 39%
Includes new information gathering powers for Inland Revenue
Problem of over taxation of lump sum payments
The new Minister of Revenue's first speech set out the Government's tax objectives including a possible digital services tax
Could the bright-line test be extended? And watch out for existing tax provisions
A reminder about back-dating GST registration
This week Inland Revenue reminds tax agents about the bright-line test, it responds to comments in a previous podcast about Business Transformation and the wealth tax debate continues
What will be in Inland Revenue's Briefing to Incoming Minister? The challenges ahead for the new Minister of Revenue.
The small business cashflow scheme is extended
Should people working from home pay higher taxes?
This week Andrea Black (ex Inland Revenue and Treasury and former independent advisor to the Tax Working Group) and I take a closer look at the impact for Inland Revenue of its Business Transformation programme and find some puzzling discrepancies
Inland Revenue is contacting people about information received under Common Reporting Standards
Company is put into liquidation for not having adequate accounting records
Inland Revenue research on the tax debt tipping point
After the election what next in tax for the Labour Government? Who will be the Minister of Revenue?
A future role for green taxes
Problems with Inland Revenue's online functions
The potential impact of the United States House of Representatives Judiciary Committee's Subcommittee on Antitrust, Commercial, and Administrative Law’s report on competition in digital markets
The OECD's latest update on progress in taxing the digital economy
An accidental new lover tax?
IRD is checking wage subsidy claims, a look at the Australian Budget and why GST rate cuts don't work
Highlights from the ATAINZ spring workshop including provisional tax payments holding up, home office expenditure allowances.
Inland Revenue is chasing crypotasset investors
How to design and implement a wealth tax.
This week talking about UK pension transfers with Tony Chamberlain of GBPensions. The difference between the UK and NZ taxation treatment and how some pension schemes are now more valuable because of Covid-19
How a common GST mistake cost a client $450,000
NZ tax residents must report income on worldwide basis
Labour's tax policy announcement does nothing for inequality or the inequities in the tax system
Inland Revenue wins Frucor tax avoidance case in Court of Appeal
New Inland Revenue guidance on taxation of cryptoassets
Labour's tax and small business election policies announced
This week I'm talking with the Money Mentalist Lynda Moore on the psychology of tax and money. The common mistakes clients make around tax payments and what steps can be taken.
COVID-19 related measures for tax losses and AirBnBs,
National releases its small business policy
Is a capital gains tax back on the agenda?
News on the latest COVID-19 initiatives including:
Updated Inland Revenue determination on working from home costs;
Resurgence wage subsidy eligibility
Updated Business Finance Guarantee Scheme conditions
Provisional tax due on 28th August
A refresher on the tax deduction rules for working from home;
Inland Revenue guidance on the meaning of 'minor' for subdivisions; and
Are New Zealand's tax policy settings correct? ew Zealand’s tax settings right?
Watch out for FBT on that new SUV
How workable is the Green Party's wealth tax?
Unemployment insurance on the cards?
What's the tax treatment of Gold?
What deductions are available for residential property investors in respect of expenditure to meet Healthy Homes standards
Big changes to Trust law coming - are you ready?
Tax avoidance and Eric Watson and Kidicorp
Proposed changes to the Child Support late payment penalty regime
Millionaires want tax increases whilst the EU’s bite of Apple goes sour
Last days to organise tax pooling payment for the 2019 tax year
The Government extends the Small Business Cashflow Loan Scheme;
ACC levies are frozen until 2022; and
Inland Revenue explains the taxation of overseas investment properties.
This week I spoke with Josh Taylor, director and co-founder of tax pooling company Tax Traders. We discussed how they reacted to the Covid-19 pandemic, how clients used tax pooling and how it was working with Inland Revenue
A tax law change could be of major benefit to Kiwis with Australian superannuation funds
Rethinking the taxation of redundancy
Google’s 2019 results highlight the difficulties of taxing the digital giants
Inland Revenue has released five COVID-19 related variation determinations including ones covering look-through companies, bad debt write-offs and tax pooling
The tax problem of appointing an Australian resident executor
A temporary increase to the write-off threshold for tax to pay
This week a look at the new Wage Subsidy Extension scheme
Capital gains tax is back on the agenda
Time to top up your KiwiSaver contributions
The Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill introduced covering purchase price allocation, taxation of land, feasibility expenditure & trusts
Inland Revenue phone issues
Last week for applications for the small business cashflow scheme
A controversial extra relief for the newly unemployed
Are redundancy payments overtaxed; and
Record numbers apply for instalment arrangements with Inland Revenue.
The Small Business Cashflow Scheme
Inland Revenue’s guidance on the sharing economy
Employees claiming home office expenditure
A look at Budget 2020 and the surprising lack of additional funding for Inland Revenue and Ministry of Social Development.
How bad will the loss of tax revenue be?
Inland Revenue guidance on how FBT applies during the Lockdown.
Is the wage subsidy scheme available for landlords?
A look ahead to next week’s Budget.
Inland Revenue releases a determination on payments to employees for working from home,
COVID-19 tax measures legislation is introduced
Provisional tax is due 7th May
Latest guidance from Inland Revenue on Covid-19 tax measures
Draft guidance from Inland Revenue on tax implications of owning overseas rental property and application of financial arrangements rules
DIA ruling on AML-CFT
New temporary loss carry back regime will it help small businesses;
The inherent flaw in the foreign investment fund regime; and
The rules around claiming deductions for working at home
More on Inland Revenue’s criteria for relief as a result of the COVID-19 Pandemic
The fringe benefit tax lesson from David Clark’s misadventures
The pros and cons of a Financial Transactions Tax
More on Inland Revenue's response to COVID-19
Inland Revenue is closing down next week
How might COVID-19 affect tax in the future?
Explaining some of the detail about the Government's COVID-19 package Inland Revenue discretion about waiving use of money interest Tax residency and unintended consequences of COVID-19 Time to defer 7th May provisional tax and GST payments
This week more on the Governments COVID-19 package The risks of underpaying yourself A cash flow trap for those transferring their pension and superannuation schemes to New Zealand More year-end tax planning
Special edition looks at the tax measures in today's $12.1 billion stimulus package
Depreciation on buildings restored Low value asset write-off limit increased to $5,000 Residual income tax threshold raised to $5,000 Inland Revenue to have discretion to write off use of money interest
What is Inland Revenue's response so far to the COVID-19 pandemic compared with Italy, the UK and Australia?
New Zealand trustees should be aware of potential Australian tax implications
Year end tax planning tips
GST issues paper proposes change in GST treatment of crypto-assets
Retrospective change to treatment of donation tax credits
More on Inland Revenue’s decision to stop accepting cheques
This week Nigel Jemson the winner of the 2019 Tax Policy Charitable Trust talks about his proposed Trusted Taxpayer Regime - in many ways a new and improved accounting income method
It offers a 10% tax credit for small businesses (turnover below $5million) and no annual filing obligation in return for quarterly filing and Inland Revenue access to data
Changing tax thresholds and capital gains tax are back on the agenda,
Inland Revenue warns the hospitality industry
OECD estimates international tax reform could be worth USD100 billion annually
Shareholder advances under Inland Revenue scrutiny - are you paying FBT on these advances?
More about using cheques to pay tax
Australian tax complications when purchasing property
Inland Revenue's extensive powers of collection and its use of deduction notices Triggering a dividend through misunderstanding tax implications of transaction Terminal Tax payment options
Progressive taxation on biological methane is John Lohrentz' proposal to the New Zealand government as a tool to transition to a low carbon economy.
This week:
What will be the big tax issues over the next decade? Inland Revenue cracks down on Student Loan debtors Is CGT really dead?
A look back at the big tax stories of 2019
The Tax Working Group report and capital gains tax Inland Revenue's business transformation OECD's international tax proposals
Chris Cunniffe of Tax Management New Zealand talks about tax pooling & the latest TMNZ/CAANZ survey of tax agent satisfaction with Inland Revenue
Inland Revenue's new approach to tax investigations
Waste disposal levy good example of an environmental tax
How being 6 minutes late could cost the ATO almost $100 million
The Week in Tax 22 November 2019
More on Inland Revenue CRS initiative The future of tax Why did the Tax Working Group's CGT proposal fail?
Property developers and a still too common GST mistake
EU proposes sharing credit card data to counter tax fraud
OECD proposes minimum global tax rate as part of BEPS initiative
Tax perils of being a trustee
HM Revenue & Customs guidance on cryptoassets
Confused by your myIR dashboard? You're not alone
Inland Revenue targets the hidden economy in Queenstown and how much additional tax has it raised from the hidden economy since 2010
Using technology to counter tax evasion - the Swedish experience
Have property in the United States? You could be subject to US Estate Tax
This week I take a look at Inland Revenue's annual report -
How much additional tax did it raise? Who is it sharing information with? How did it do against its own performance measures?
This week I'm joined by Geof Nightingale of PWC and we discuss:
The Tax Working Group How the Budget surplus could be used to improve taxes for middle income earners The pros and cons of a Digital Services Tax and The OECD's recently announced international tax proposals
OECD proposes the biggest changes to international tax since the 1920s,
The Government has a surplus but what about the cost of superannuation?
Inland Revenue targets cash economy
This week Inland Revenue issues consultation on habitual buying and selling of land
Two Tax Working Group recommendations on feasibility expenditure and shareholder continuity approved
Inland Revenue issues Automatic Exchange of Information letters
Special International Podcast Day edition
Observations of tax in the UK differential VAT/GST rates OECD on taxing energy Comparing NZ tax system with that of the UK and Germany
Why small businesses need a tax advocate
More on using cryptocurrencies to pay salaries
Another unknown unknown the UK regulations implementing the 4th EU Anti-money laundering directive
What are the "Unknown unknowns" of tax - the financial arrangements regime and Inheritance Tax
Wage theft and missing PAYE and KiwiSaver contributions
National's tax policy - indexing thresholds, changes to the bright-line test and loss ring-fencing
A free-ranging discussion with journalist, academic and author Max Rashbrooke about the future of tax and the possibility of a wealth tax
Inland Revenue's three new rulings on taxing crypto-assets paid as salary and wages/bonuses
New draft determination on using smartphone for business
Inland Revenue audit activity on the decline?
This week
The impact of Brexit and the financial arrangements regime The Government's tax policy work programme for the next 18 months 15 years ago...
What tax do High Wealth Individuals pay Can an exemption really increase tax revenue? Simplifying provisional tax
This week in tax
Inland Revenue explains the work related vehicle exemption Is insulation deductible? Should it be? Just how good is Inland Revenue's $1.5 billion business transformation?
This week
Time to change FBT on cars and is that twin cab ute a work-related vehicle? Digital services tax - good politics but bad policy? Taxing cryptocurrencies
This week:
What's with Inland Revenue's new use of money interest rates Inland Revenue survey on costs of tax compliance for small businesses Productivity Commission on vacant land tax
This week:
Loss ring-fencing legislation passed Business mileage and business use of building rates OECD's exchange of information and Common Reporting Standards
This week
ANZ Bank and David Hisco tax planning Update on Inland Revenue's business transformation progress and implications for tax agents UK inheritance tax and New Zealand residents
This week - PIE debacle gets bigger - Can you really claim expenses for wine storage - Do flat taxes work?
Terry's guest on the podcast today is Deborah Russell, MP with whom he co-authored Tax and Fairness book. They dig into how the government and parliament legislate tax policy. Deborah speaks on tax issues in parliament and explains the different ways that
Deborah is on the Finance and Expenditure Select Committee - what do they discuss? The Loss Ringfencing Bill going through parliament also focuses on getting GST from online sales Most tax legislation goes through unopposed - who knew? The working day of a parliamentarian - a 40 hour week done in 3 days The Inland Revenue IT upgrade - tax agents felt less-involved than they could Next week's budget - MPs get prior announcements an hour beforehand The living standards framework - based on Amartya Sen and Martha Nussbaum's work And a prize draw....
How not to end up in court defending a $4m tax evasion charge - investigators from Inland Revenue should not be under-estimated as they are highly skilled, motivated and are looking for pattens e.g. gross profit ratios for similar businesses.
Welfare Expert Advisory Group Report was released - Up to $5.2 Billion pa needed to overhaul New Zealand's social welfare system to incentivise people back into work among other changes - Tax implications for clients claiming Working for Families Tax Credits. - Major changes proposed around amounts paid and abatement rates.
Problems with overseas mortgages and investments - These are part of the FIF regime - a topic so complex there's no Inland Revenue guide to it! Due to changes in currency exchange rates income has arisen so the £ mortgage value hasn't changed but the equivalent in NZ$ has created a change in relative valuation. There's hope on the horizon.
Inland Revenue business transformation release 3 has gone live - the team apparently consumed a significant volume of pizza and chocolate!
Is it now back to normal after the Government's decision on TWG report? The Week in Tax news:
International tax pressure is building to create a Digital Services Tax because OECD's BEPS initiative is growing consensus.
Why you shouldn’t be spending any refund from Inland Revenue that turns up unexpectedly. Unexplained credit balances sometimes are paid to prevent interest payments to Inland Revenue and these are getting refunded!
Expect the report from Welfare Expert Advisory Group soon. They consider the interaction between tax and social assistance.
Full transcript at https://baucher.tax/dont-spend-your-tax-refund/
Andrea Black supported the Tax Working Group for the past 17 months. She discusses whether Inland Revenue is under-resourced and whether it was worth it. Full transcript https://baucher.tax/andrea-black-and-the-tax-working-group/
The Government announces its decision not to introduce a Capital Gains Tax in this parliament. This podcast reviews the TWG proposals and the implications for New Zealand
11 recommendations are likely to be implemented by the Inland Revenue.
Articles on the topic published elsewhere:
17 April on Interest.co.nz predicting a CGT - Will there be one CGT to rule them all? https://www.interest.co.nz/opinion/99191/terry-baucher-ponders-whether-there-will-be-one-capital-gains-tax-rule-them-all
18 April on Interest.co.nz admitting I got the prediction wrong - I am surprised the environmental tax proposals aren't prioritised https://www.interest.co.nz/opinion/99212/terry-baucher-surprised-govt-wont-prioritise-any-tax-working-group-environmental-tax
18 April on The Spinoff - The other tax recommendations the Government ignored https://thespinoff.co.nz/business/18-04-2019/the-other-tax-recommendations-the-government-ignored/
1) Cullen Group law case against Inland Revenue 2) The Act to generate automatic tax refunds by Inland Revenue 3) Digital Services Tax affecting Google, Facebook adverts booked in New Zealand.
Full transcript https://baucher.tax/this-week-in-tax-15-march-2019/