The Week In Tax

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announcements about GST zero-rating fresh & frozen fruit & vegetables & changes to working for families Inland Revenue draft guidance on GST groups Notes from the Trans-Tasman International Fiscal Association conference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

Technical Decision Summary considers when leaky building repairs are deductible Some interesting measures in this week's Australian Budget A look ahead to next week's New Zealand Budget

New tax relief measure for flood-hit taxpayers Inland Revenue guidance on the implications of renting a room to a flatmate Provisional tax is due on Monday, what are the rules if you receive a one-off payment

This week economist Shamubeel Eaqub & I look at the Inland Revenue/Treasury reports on the true tax burden of the wealthy. What do these reports reveal and what are the possible alternatives to make a fairer tax system?

Sapere Research Group report kicks off a debate over the true tax burden in New Zealand Internal Revenue Service report on FATCA data gives a clearer picture of how much wealth is held offshore and the returns on that wealth Inland Revenue guidance around the bright-line test for transactions involving family members

A warning about the new FBT exemption for bikes & public transport How the interest limitation rules apply to providers of short-stay accommodation Are tax rises needed to meet impact of climate change & demographic change?

A taxpayer screws around & gets found out by Inland Revenue Is landlording a business like other businesses? Are breast implants tax deductible?

Five suggested actions before the end of the tax year on 31st March. Working for families reform under consideration and why it's needed. Should New Zealand adopt the UK Budget cash accounting for small businesses proposal?

Inland Revenue launches its tax toolbox for tradies to improve compliance in the construction industry The Government introduces a surprise fringe benefit tax exemption The potential implications for New Zealanders from the UK's Spring Budget (PS my apologies for the sudden dead air near the end of the podcast - I forgot Jeremy Hunt's name)

Plenty to consider in Inland Revenue's latest Interpretation Statement on tax avoidance Working from home allowances updated GST and Donation Tax Credit fraudsters convicted

Inland Revenue targets the construction section GST changes for the platform economy to proceed, Inland Revenue clarifies the GST treatment of a professional director’s fees Treasury’s suggestions for financing the effects of climate and demographic change

Latest tax developments in Cyclone Gabrielle response Some suggested tax measures for response Treasury's 2021 warnings about meeting fiscal challenge of climate change

This week we focus on what assistance is available from Inland Revenue for those affected by Cyclone Gabrielle

Terry Baucher discusses three major trends that could have an impact on tax policy, along with his hopes for 2023.

A look back at 2022, including a proposed Tax Principles Act, a dramatic u-turn. the Trusstastrophe, & what were the most listened to tracks of the year

This week we're talking with Vivien Lei, the winner of this year's Tax Policy Charity Scholarship about her proposal for an environmental impact weighted tax

A deep(ish) dive into the OECD's fourth edition of its corporate tax statistics and the revelations from country by country reporting. The Government's financial statements for the four months to 31st of October show the effect of fiscal drag. Inland Revenue consultation on the impact of provisional tax on employees who receive one-off amounts of income without tax deducted

This week when is a subdivision an undertaking or scheme? 72% of NZ tax advisors say it’s time for a capital gains tax Inland Revenue wins an international tax award Taxes and the voting age

More on the proposed GST changes for the platform economy. Inland Revenue believes 70,000 incorrectly received a cost of living payment. The pros and cons of a tax-free threshold

UK report shows little benefit for consumers from VAT law change Thousands of Kiwis may be potentially subject to UK taxes such as Inheritance Tax Airbnb & Uber are not happy about new proposals

This week the Green Party suggests an excess profits tax & quotes Margaret Thatcher in support The Australian Tax Office’s latest Corporate Tax Transparency report The latest from the OECD on carbon pricing of greenhouse gas emissions.

We take a closer look at Inland Revenue's 2021-22 annual report. What's good, what's not so good and what's concerning?

Inland Revenue recovers $33 million of overpaid wage subsidy from multinationals, The Asia Initiative is launched More on the Supreme Court's decision in Frucor

OECD proposes a Crypto-asset reporting framework Government suggests a new levy for farmers greenhouse gas emissions and more about the politics and tax implications of changing tax rates ahead of next year's General Election

Change coming for GST record-keeping requirements, A controversial dissent by a Supreme Court Justice in a major tax avoidance case Government's tax revenue exceeds $100 billion for the first time.

Inland Revenue gets ready to launch a campaign on FBT compliance The Government ignored Treasury and Inland Revenue advice regarding its build-to-rent interest deductibility proposal A few notes of interest on the British mini-budget

More details emerge regarding Inland Revenue’s handling of the cost of living payments Doomed tax case highlights the need for change to taxation of backdated ACC compenstion The OECD reports on Tax Policy Reforms over the past year

This week, Inland Revenue rulings illustrate the hidden traps of tax Treasury points the finger at tax over the cost of housing A long overdue Anti-money laundering ruling More on the Royal finances.

This Inland Revenue releases its first long-term insights briefing, admits to not having the data to comment on the amount of non-compliance with FBT and is residential property under-taxed?