The Week In Tax

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 purposes Good 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 regime How 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 food As 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 trust New 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 needed Facebook & 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 tax More 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