The Week In Tax

Parliament's Finance & Expenditure Committee launches inquiry into cryptoassets, tax treatment of forks & hard drops Deductibility of meal expenses of self-employed Inland Revenue office closed for earthquake risk

The unintended consequences of the interest limitation proposals A coming clampdown on the fringe benefit tax rules around twin cab utes Inland Revenue updates its advice on non-cash dividends.

How the interest limitation rules will apply to taxable sales of property Interpretation statement on income tax & GST treatment of businesses disrupted by the COVID-19 pandemic Global minimum tax rate proposals

A look at the interest limitation rules and the proposed "new build" exemption The OECD's latest Fighting Tax Crime, how does Inland Revenue measure up The new purchase price allocation rules

A look at the G7’s agreement for a minimum corporate tax rate of 15%, The role of tax in the Climate Change Commission’s final advice to the Government FBT and what is a work related vehicle?

An overview of the Government's discussion document on the Design of the interest limitation rule and additional bright-line rules

An Employment Court case reveals Inland Revenue's extensive use of contractors Google taking the Government for a ride? And a warning about the new bright-line test

This week the Minister of Revenue is not happy with Google How many ACC lump sums may be over-taxed Inland Revenue updates the square metre rate for home offices

A look at the tax measures in the 2021 Budget including the proposal to hypothecate future sales of emission trading units, a possible social unemployment insurance and Inland Revenue reduces funding in investigations.

This week, a look at Tuesday's Australian budget, the fairness of taxing gains at 39% and progress on an international minimum tax rate

Time to rethink how we tax residential investment properties? Latest Inland Revenue consultation on taxation of cryptoassets A snapshot of Inland Revenue's audit activity in past year

An in-depth discussion with John Cantin of KPMG about the tax policy implications of the recent property tax changes and for the Generic Tax Policy Process

Inland Revenue launches a construction industry education campaign. The continuing unfair tax treatment of lump sum payments OECD data around the use of tax and Earth Day

OECD and a common reporting standard for cryptoassets Lessons from 10 years of compulsory zero-rating and land transactions A warning about trustees moving to Australia

Small Businesses and tax compliance, PAYE for employees of overseas companies Managing fringe benefit tax A global minimum corporate tax rate?

A closer look at the Government's shock property tax announcements Four questions on the future of tax

First look at extension of bright-line test to 10 years and restriction of interest deductions for residential property investors

Inland Revenue fires a warning shot at real estate agents over claiming excessive deductions The International Monetary Fund wades into the housing debate Year end issues around overdrawn shareholder current accounts

Business loss continuity test & tax loss carry back A review of working for families is underway and how abatement levels impact beneficiaries Pre 31st March tax planning tips

Government announces a new business loss continuity rule US drops 'safe harbour' demand as progress made on new international tax framework UK Budget has inheritance tax & capital gains tax implications for Kiwis and includes surprise Corporation Tax increase

Observations on the International Fiscal Association conference Covid Resurgence Support Payments applications go live Inland Revenue/Treasury analysis of wealth in New Zealand causes a stir

An overview of the new Covid Resurgence Support Payment What could be the implications of Facebook’s actions in Australia Pre-31st March year end tax planning

This week more on the state of Inland Revenue’s Business Transformation programme, Grant Robertson's warning to property speculators Inland Revenue’s latest view on tax avoidance.

A look at the potential tax implications of the Climate Change Commission’s first draft advice to the Government The latest from the OECD on international tax Inland Revenue's tax policy priorities

A look ahead at the expected big tax themes in the coming year The arguments for taxing property, a wealth tax, what might Joe Biden's presidency mean for international & environmental taxation and how will Inland Revenue respond.

A look back at the biggest tax stories of 2020: The response to Covid-19, the ongoing debate about taxing capital, Inland Revenue's response and how well is its Business Transformation programme going?

Rod Spicer the associate director of claims and underwriting at Accountancy Insurance discusses how to use insurance to manage dealing with Inland Revenue and what investigation trends they are seeing

A first look at the tax bill increasing the top tax rate to 39% Includes new information gathering powers for Inland Revenue Problem of over taxation of lump sum payments

The new Minister of Revenue's first speech set out the Government's tax objectives including a possible digital services tax Could the bright-line test be extended? And watch out for existing tax provisions A reminder about back-dating GST registration

This week Inland Revenue reminds tax agents about the bright-line test, it responds to comments in a previous podcast about Business Transformation and the wealth tax debate continues

What will be in Inland Revenue's Briefing to Incoming Minister? The challenges ahead for the new Minister of Revenue. The small business cashflow scheme is extended Should people working from home pay higher taxes?

This week Andrea Black (ex Inland Revenue and Treasury and former independent advisor to the Tax Working Group) and I take a closer look at the impact for Inland Revenue of its Business Transformation programme and find some puzzling discrepancies

Inland Revenue is contacting people about information received under Common Reporting Standards Company is put into liquidation for not having adequate accounting records Inland Revenue research on the tax debt tipping point

After the election what next in tax for the Labour Government? Who will be the Minister of Revenue? A future role for green taxes Problems with Inland Revenue's online functions

The potential impact of the United States House of Representatives Judiciary Committee's Subcommittee on Antitrust, Commercial, and Administrative Law’s report on competition in digital markets The OECD's latest update on progress in taxing the digital economy An accidental new lover tax?

IRD is checking wage subsidy claims, a look at the Australian Budget and why GST rate cuts don't work

Highlights from the ATAINZ spring workshop including provisional tax payments holding up, home office expenditure allowances. Inland Revenue is chasing crypotasset investors How to design and implement a wealth tax.

This week talking about UK pension transfers with Tony Chamberlain of GBPensions. The difference between the UK and NZ taxation treatment and how some pension schemes are now more valuable because of Covid-19

How a common GST mistake cost a client $450,000 NZ tax residents must report income on worldwide basis Labour's tax policy announcement does nothing for inequality or the inequities in the tax system

Inland Revenue wins Frucor tax avoidance case in Court of Appeal New Inland Revenue guidance on taxation of cryptoassets Labour's tax and small business election policies announced

This week I'm talking with the Money Mentalist Lynda Moore on the psychology of tax and money. The common mistakes clients make around tax payments and what steps can be taken.

COVID-19 related measures for tax losses and AirBnBs, National releases its small business policy Is a capital gains tax back on the agenda?

News on the latest COVID-19 initiatives including: Updated Inland Revenue determination on working from home costs; Resurgence wage subsidy eligibility Updated Business Finance Guarantee Scheme conditions Provisional tax due on 28th August

A refresher on the tax deduction rules for working from home; Inland Revenue guidance on the meaning of 'minor' for subdivisions; and Are New Zealand's tax policy settings correct? ew Zealand’s tax settings right?

Watch out for FBT on that new SUV How workable is the Green Party's wealth tax? Unemployment insurance on the cards?

What's the tax treatment of Gold? What deductions are available for residential property investors in respect of expenditure to meet Healthy Homes standards Big changes to Trust law coming - are you ready? Tax avoidance and Eric Watson and Kidicorp

Proposed changes to the Child Support late payment penalty regime Millionaires want tax increases whilst the EU’s bite of Apple goes sour Last days to organise tax pooling payment for the 2019 tax year

The Government extends the Small Business Cashflow Loan Scheme; ACC levies are frozen until 2022; and Inland Revenue explains the taxation of overseas investment properties.

This week I spoke with Josh Taylor, director and co-founder of tax pooling company Tax Traders. We discussed how they reacted to the Covid-19 pandemic, how clients used tax pooling and how it was working with Inland Revenue

A tax law change could be of major benefit to Kiwis with Australian superannuation funds Rethinking the taxation of redundancy Google’s 2019 results highlight the difficulties of taxing the digital giants