The Week In Tax

A new tax bill causes a massive storm but what happens next? Also brief run-through of what other tax measures are in the Taxation (Annual Rates for 2022-23, Platform Economy and Remedial Matters) Bill. (TL:DR - a lot!)

This week, provisional tax is due so watch out for changes to the use of money interest rates and rules Is it time for a residential land value tax More on the looming shortfall in the National Land Transport Fund

Build-to-rent developers can be exempt from interest deductibility limitation New report examines the role has tax played in the housing crisis Inland Revenue draft guidance about the treatment of donations to private schools

This week, some interesting snippets from the Budget Information release including more on the cost-of-living payment, The international tax implications of President Biden’s tax proposals The state of the Internal Revenue Service Inland Revenue remits over $100 million of interest in relation to COVID-19

What's going on with the Cost of Living payments? The first climate change national adaptation plan is released, but what about paying for it? NZ trusts may be affected by a looming deadline for trust registration in the UK Why is Ivana Trump buried on a golf course?

Inland Revenue draft interpretation statement on tax loss carry-forward and continuity of business activities Inland Revenue applies little-known provisions to find director personally liable for company's tax debts What role for windfall taxes

Inland Revenue releases guidance on when buildings are depreciable Who actually suffers the highest effective marginal tax rates in Aotearoa OECD releases key report on the taxation of housing

This week, should we let Inland Revenue loose on the gangs? The latest update from the OECD on the progress of international tax reform A warning from Ireland about the risks of a low corporate tax rate, and the Tax Policy Charitable Trust reveals its four finalists.

Inland Revenue gets on the case of those with overdue tax debt Guidance on GST and director’s fees Corporate income tax take is ahead of forecast The Reserve Bank of New Zealand’s view of the housing market in an international context

This week we focus on international tax Firstly, Inland Revenue launches its offshore tax compliance programme Draft guidance on deductiblity of overseas travel costs Facebook & BAT New Zealand's 2021 results How are going to fund the National Land Transport Fund in the future?

Inland Revenue releases guidance on cash basis persons & the financial arrangements regime Inland Revenue campaign targeting estate agents pays off Google New Zealand’s latest results show need for international tax agreement Some reflections on the International Fiscal Association’s 2022 conference

When are changes in co-ownership and of trustees "disposals" for the land tax provisions? Is it time to reconsider the disputes process? How about legalising cannabis & using the tax revenue to address the gangs issue?

Inland Revenue backs off on controversial proposals at the same time as a Technical Decision Summary illustrates why Inland Revenue believes change is needed The role of tax in the Government's first emissions reduction plan Latest on the OECD Pillar 1 & Pillar 2 proposals

Inland Revenue releases more details about the Cost of Living Payment Kilometre rates for the 2021-2022 income year Windfall taxes & wealth A warning about the perils of thinking short-term

Inland Revenue raises concerns about its ability to deliver the Cost of Living payments A potentially unwelcome GST surprise for farmers selling up Latest updates from the OECD on international tax reform and the tax wedge

No Budget tax surprises but Inland Revenue gets a boost

Inland Revenue consults on the OECD Pillar Two GloBE rules for New Zealand & has a new CEO Working for families consultation A look ahead to next week's Budget

Inland Revenue gets ready for tax return filing season Inland Revenue cranks up its review of Covid-19 support payments Some interesting insights emerge in the wake of Revenue Minister Parker’s speech last week Provisional tax reminder

Minister of Revenue philosophizes on tax & proposes a Tax Principles Act Deadline for submissions on two controversial tax integrity proposals Inland Revenue guidance on what buildings qualify for depreciation

Inland Revenue use of money interest and prescribed rate of interest rates rise Guidance on the reporting requirements for trusts released and The potential New Zealand tax implications of a British political scandal

How does tax on New Zealand property compare with other countries? The OECD consults on a new global tax transparency framework for crypto-assets Inland Revenue warns against attempts to avoid 39% tax rate

Interest limitation rules and bright-line test changes now enacted More Inland Revenue guidance on the financial arrangements rules Matters of interest in this week's Australian Budget

A closer look at Inland Revenue’s proposals to counter top tax rate avoidance Could tax changes make a difference to the cost of living Get ready for tax year end

The Finance and Expenditure Committee reports back on the tax bill relating to the interest deduction limitation rules Inland Revenue releases a swathe of consultation documents relating to GST apportionment, the gig economy & tax avoidance New trust reporting standards released

The Government's new COVID support package. The OECD Secretary General reports on progress on the new multinational tax deal & other initiatives Polling suggests majority of Kiwis support a capital gains tax

Inland Revenue guidance on the deductibility for income tax purposes of costs incurred due to COVID-19, Inland Revenue releases an issues paper on the future of tax administration in a digital world, The tax perils of not taking advice before migrating.

Inland Revenue operational statement on how PAYE applies in cross-border employment situations; How to calculate foreign tax credits; and Could the proposed Social Insurance scheme be a rorter’s paradise?

A look at the Government’s proposed income insurance scheme Inland Revenue’s initial view on the impact of the new 39% tax rate The OECD’s latest economic commentary on New Zealand

Now Omicron is here what support is available? What next for international tax reform? After Business Transformation what next for Inland Revenue and the future of tax administration?

The final podcast for the year discusses the latest Half Year Economic Update, Inland Revenue's latest Covid-19 update and then looks back at the biggest tax stories in 2021 - the OECD/G20 agreement on international tax & the Government's moves on residential property investment

Inland Revenue enlists the help of the Chinese Tax Authorities in a tax evasion case; OECD report reveals the impact of COVID-19 on tax revenue Inland Revenue turns off its old computer system

Latest Covid-19 developments How Christopher Luxon's property portfolio is representative of the taxation of property debate Inland Revenue releases draft statement on charities & donee organisations

My guest this week is Professor of Law Craig Elliffe of the University of Auckland. We discuss the huge changes to international taxation announced in late October and what they might mean for New Zealand and generally.

What Inland Revenue needs to do to improve the quality of tax legislation Growing concerns about potential for misuse of new investigative powers for tax authorities Time for a surcharge on the banking sector?

Tax and the law of unintended consequences - how perfectly rational decisions over appointment of a trustee or helping children purchase a house can have some very severe and unintended tax consequences. Similarly how the abatement of working for families makes it harder for low-income earners to break out of poverty.

This week we focus on trusts in particular the new reporting requirements for trust and a concerning court decision from Australia. We also review a harsh but not unexpected decision from the Taxation Review Authority regarding the taxation of arrears of weekly ACC compensation.

This week the latest Covid-19 updates Extra time to file 30th September GST returns A review of Inland Revenue’s June 2021 annual report

A closer look at the new bright-line test rollover relief provisions Inland Revenue launches a new research project into high-wealth individuals Feedback from last week's podcast

A first look at the new international tax agreement & its implications for New Zealand Professor Lisa Marriott and I pore over Inland Revenue's debt management, its fairness & efficiency & options for change

A look at the bright-line test rollover relief included in last week's land tax proposals Inland Revenue releases consultation on implications of land sales and changes of co-ownership and on issues for cross-border workers What could be the fall out from the release of the Pandora Papers?

Draft interest limitation legislation including 20 year new build exemption, interest deductions on taxable disposals and the view of the Ministry of Housing and Urban Development

This week, a new report finds strong support for using tax to support the post Covid-19 recovery. A look at the submissions to the Finance and Expenditure Committee's Inquiry into crypto currencies The ATO launches a crackdown on disguised undeclared foreign income.

Latest Lockdown developments including third round of wage subsidy and second Resurgence Support Payment NZ Super Fund pays $2.3 billion in tax on record $15 billion return Using tax to fund NZ Superannuation

The Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Bill clarifies the GST treatment of cryptoassets, Latest Lockdown developments Treasury’s draft Long-term fiscal position considers whether taxes need to increase

This week, latest lockdown developments, Inland Revenue issues new determination on allowances & on home office expenditure Could a tax forgiveness programme help SMEs hit by Covid-19?

This week,the latest lockdown developments, What to do if you can't pay provisional tax or GST The perils of making payments to overseas beneficiaries Reflections on the late Sir Michael Cullen

What Government support is available for businesses & self-employed affected by the lockdown? What is the tax treatment of allowances for employees required to work from home?

Inland Revenue guidance on the tax implications of the Clean Car Discount Latest on Inland Revenue’s audit activity Insights from the OECD’s latest report on Corporate Tax Statistics

Time for a more generous approach to working from home allowances Tax agencies stepping up scrutiny of crypto-assets Former Treasury Chief Economist takes a swing at the Government’s tax policy.

Beware the great unknown of NZ tax - the financial arrangements regime Not many happy about the interest limitation proposals Time for a new approach - the fair economic return