Residential landlords left out from tax relief package
The Government introduced the Loss Carry-back Scheme as part of the recent Covid-19 tax relief package.
Sharp as tax
Lockdown factors to consider when paying provisional tax
Lockdown factors to consider when paying provisional tax
Business owners New Zealand-wide will be feeling the immense financial strain of the Level 4 lockdown response to the Covid-19 pandemic, particularly if they have large upcoming provisional tax...
Donee status no done deal
Donee status no done deal
Feeling generous and thinking of making a donation to a good cause in the knowledge that the Government will effectively fund 33% of it by way of that nice tax credit?
Forestry investment far from straight forward venture
Forestry investment far from straight forward venture
As forest fires, and climate change debate, rage across the Tasman (and our thoughts and best wishes go out to our Australian cousins), the topic of forestry in NZ has arisen over the Christmas break.
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.
'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.
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.
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...
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...
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.
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.
New IRD mileage rate
New IRD mileage rate
The Inland Revenue Department reviews its published mileage rate annually.
Capital gains tax may require non-partisan approach
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.
Non-profit groups can overpay tax
Non-profit groups can overpay tax
Many clubs or societies operate within our community, Scott Mason writes.
Opinion: Grey areas in share trading and tax
Opinion: Grey areas in share trading and tax
Investing in shares is a little like being at the races.
Sharp as tax: Rules strict on gifting and rest-home subsidies
Sharp as tax: Rules strict on gifting and rest-home subsidies
In October 2011, gift duty was abolished which meant that any amount of money could be given (or forgiven) to people/trusts for whom one has ''natural love and affection'' without paying gift duty.
Tax on property transactions not straightforward
Tax on property transactions not straightforward
As record property prices are recorded in some places (e.g. state houses selling for $2 million in Auckland), it is perhaps timely to remember that while NZ does not have a formal capital gains tax, profits on land can easily fall into the taxing net.
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.
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.
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.