Holding Costs for Land
The IRD has released a draft interpretation statement addressing the deductibility of land holding costs – namely, interest, rates and insurance.
Flooding Events Tax Concessions
A number of tax concessions were released in an attempt to provide some relief to those who were impacted.
Provisional Tax Regime
We examine the several concessional changes that the provisional tax regime has been subject to over the past 10 years.
Is a subdivision subject to income tax and GST?
When determining whether a gain on disposal of land is subject to income tax, various land taxing provisions must be considered.
Residential property – a class of its own
The tax treatment of residential rental investments has become a tangled web of complexity due to changes in legislation over the past few years.
Labour Shortages
The labour market is tight at the moment and seems to be getting tighter with each passing month. Is it a NZ issue only?
GST 101
Even though it is called simple and broad based, having your GST returns periodically independently reviewed is a good idea.
Fringe Benefit Tax Updates
We examine a recent review of New Zealand’s current Fringe Benefit Tax (FBT) regime.
Update – GST on Farmhouses and Holiday Homes
In 2017 Inland Revenue released an Interpretation Statement, IS 17/02, which formalised the long-standing practice of allowing a farmer to claim a portion of their farmhouse expenditure on the basis it is the “headquarters” of the farm. But then in 2020 Interpretation Statement IS 20/05 was released by Inland Revenue which overthrew the common practice … Read more
The employees’ market
In today’s workplace environment, expectations around employee benefits are changing, with the norm shifting in the employee’s favour. For many, the days of a 9-5 workday and mandatory workplace attendance are a distant memory, to the point where flexible hours and working environments are considered a bare minimum. As the war for talent has evolved, … Read more
