The Week In Tax

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 Budget Facebook New Zealand's 2023 results show the scale of the advertising revenue going offshore Treasury'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 alte...

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 2024 Inland 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 evasion Inland 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 year The Australian Tax Office gets heavy with the Exclusive Brethren – will Inland Revenue follow suit?

The IMF suggests a CGT & gets rebuffed Bright-line test red flags How to tax wealth IMF 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 regime More on UK trust filings and why are there so many trusts in New Zealand Financing 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 population What connects Pillar One & Pillar Two with the collapse of Newshub New 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 EVs An 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 taxpayers What deductions can you claim when you rent a room in your home to a flatmate Inland 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 Government Happy 20th Birthday to the New Zealand Super Fund