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Proposed tax changes

Proposed tax changes

The Taxation (Annual Rates for 2018-19, Modernising Tax Administration, and Remedial Matters) Bill was introduced into parliament in June 2018. The Bill seeks to improve tax administration and modernise the revenue system by making tax “simpler and easier” for individuals.
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Farmers: Have you been affected by the floods?

Farmers: Have you been affected by the floods?

On 15 July 2014, the Minister of Revenue, the Hon Todd McClay, announced that flood affected farmers in Northland will be offered assistance through Inland Revenue’s income equalisation scheme following the declaration of a medium scale adverse event by the Primary Industries Minister, the Hon Nathan Guy. The income equalisation scheme allows farmers to better manage peaks and troughs in their income by allowing money to be put aside from a better year and withdrawn against a not so good ...
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  • Improve your niche marketing strategy

    A niche marketing strategy is one that targets a specific subset of a market and is not a strategy that is ideal for every business.
  • Tax pooling

    Inland Revenue (IRD) charges a high rate of interest on late tax payments (currently 8.22%), and in some circumstances the complexity of the provisional tax regime makes interest charges hard to avoid...
  • Familiarise yourself with the bright-line test criteria

    The bright-line test is a system the IRD uses to determine whether income received from the sale of residential land will be taxed. This process has undergone changes to become more expensive, meani...
  • Tax Working Group

    The Tax Working Group (TWG) released its long awaited Final Report (‘the Report’) on 21 February 2019, following a 13 month review during which the Group received over 7,000 public submissions. The ...