Capital gains tax may require non-partisan approach
It is almost sad that following the 2014 David Cunliffe capital gains tax (CGT) PR debacle, Labour has taken CGT off the table as a policy platform.
Sharp as tax
Disclosure is the way to go with UK pensions
Disclosure is the way to go with UK pensions
United Kingdom pensions and OM-IP Investments are two matters that are about to become more important for many taxpayers/investors.
New IRD mileage rate
New IRD mileage rate
The Inland Revenue Department reviews its published mileage rate annually.
Blindly gifting may not be in the best interests
Blindly gifting may not be in the best interests
It has been suggested that if something is said often enough, it becomes the truth/norm. This article is to offer an alternative view to a theory currently being espoused in many social and business settings around town.
Dunedin's start-ups box above weight by world comparison
Dunedin's start-ups box above weight by world comparison
Scott Mason's passion is promoting and supporting early stage businesses in Dunedin.
Sharp as tax: Overt and defendable reasons vital
Sharp as tax: Overt and defendable reasons vital
It is not often there is a tax case that can strike fear into the hearts of tax advisers and business owners alike, but the ongoing saga of Penny and Hooper has been one such case, especially given early suggestions that simply the use of company or trust structures could constitute tax avoidance in some circumstances.
Money laundering regulations proving cumbersome
Money laundering regulations proving cumbersome
The Financial Intelligence Unit has estimated that more than $1billion dollars a year is generated through drug dealing and fraud in New Zealand.
Sharp as tax: Families tax credit calculation can be complex
Sharp as tax: Families tax credit calculation can be complex
The Working For Families Tax Credit ("WFFTC") scheme has been in place for some years, but has over time been amended and tinkered with.
Tax advice has to be accurate
Tax advice has to be accurate
Tax is complex and, at times, not totally logical or fair. Sometimes the combination of legislative changes and technological advancements can create a disconnect between "common knowledge" shared...
Is your `donation' in reality a fraud?
Is your `donation' in reality a fraud?
From April 1, 2008, individuals have been able to claim a rebate on all charitable or other public benefit gift in a tax year if they meet the requirements.
Sloppy record-keeping can have expensive results
Sloppy record-keeping can have expensive results
A recent Taxation Review Authority decision has highlighted the importance of clearly recording the nature of transactions between companies and their shareholders, and vice versa namely through...
Sharp as tax: Research and development tax deductibility complex matter
Sharp as tax: Research and development tax deductibility complex matter
Although New Zealand taxation rules have been developed with a view to encourage innovative research and development, tax deductibility for such has traditionally been fraught with difficulties.
Adjustment pains of IRD's new system costs taxpayer trust
Adjustment pains of IRD's new system costs taxpayer trust
Even if you have a tax agent, you may have recently received a notice from the IRD regarding tax that you have already paid or containing an assessment of tax that doesn't seem quite right.
Sharp as tax: Beware GST on holiday homes
Sharp as tax: Beware GST on holiday homes
As we head into summer, it is timely to consider issues around holiday homes and their potential GST implications.
'Your action required': Managing IRD disclosure letters
'Your action required': Managing IRD disclosure letters
Following the recent disclosure requirements in terms of Automatic Exchange of Information Agreement, we are now seeing the next wave of enforcement from Inland Revenue.
Sharp As Tax: Property market liabilities complex
Sharp As Tax: Property market liabilities complex
New Zealanders have always had a passion for investing in land.
Property sellers and buyers: bear new IRD focus in mind
Property sellers and buyers: bear new IRD focus in mind
If you are selling or have sold property recently, you should be aware of the IRD's recent focus on, and review of, provisions dealing with the taxation of land.
Sharp as tax: U-turns on policy to boost takings
Sharp as tax: U-turns on policy to boost takings
This year has been interesting in many ways, more punctuated by case law and hardening of IRD positions than significant legislative change to the tax framework, although the significant delay of long-ago announced legislation will mean there are some law changes for us to manage.
Opinion: Care needed before signing off in settlements
Opinion: Care needed before signing off in settlements
Under current economic conditions, more disgruntled employees seem to be taking action against their employers. Unfortunately, many settlements are reached based on legal advice that the cost of fighting the battle is less than the immediate punishment, as opposed to the relative merits of the claim.
Sharp as tax: Extra care urged in dealing with allowances
Sharp as tax: Extra care urged in dealing with allowances
Let us reconsider the key principles underpinning when allowances paid to employees are either taxable (as remuneration) or tax free. This will become particularly relevant as the IRD's new view on accommodation allowances is applied.