On 26 June, Inland Revenue (IRD) released Interpretation Statement 20/05. The statement describes how GST applies to the sale of a dwelling that is included within a wider supply of land.
A common example that the statement applies to is the sale of a farm that compris...
When starting a new business, a fundamental question becomes how should it be structured? Then as the business grows and evolves, its structure evolves along with it, sometimes in a haphazard way. What started as a simple family owned business can turn into a complicat...
INSIDE THIS EDITION
Changes to donation tax credits 1
Global tax 2
Purchase price allocation 3
GST on loan repayments 3
Employee use of telecommunication tools and
Tax: a brief history 4
As we enter a new decade, it is fascinating to reflect on the vast array of technological change
we have seen in the last ten years.
We’ve seen the introduction of the smartphone, the rapid growth of streaming services, the
introduction of electric scooters and the wor...
Family Trusts are used widely in New Zealand; often being viewed as beneficial for asset
protection and to keep assets in the family for future generations. A reason for their popularity
has been the relative simplicity of the legal and tax regime. However, the rules a...
It is common for disagreements to arise between taxpayers and Inland Revenue on the GST
treatment of land transactions, but less common for these disputes to arise between a vendor
and purchaser. However, this was the case in a recent High Court case, Holdaway v Ellwoo...