When Inland Revenue Says Audit It Means Audit
Inland Revenue has released a draft Standard Practice Statement relating to the notification of an upcoming audit or investigation.
So why is this important?
IRD Announces Change In Interest Rates For Loans To Shareholders
Inland Revenue has updated the regulations that impact on low-interest loans made by companies to employees and shareholders.
New Requirements To Protect People In NZ Workplaces
There is new legislation being enacted in New Zealand that comes into effect in April aimed at reducing the “work” toll in New Zealand workplaces.
Some New Zealand Fines Are Tax-Deductible
While preparing New Zealand income tax and GST returns we are noticing a tendency for clients to claim a tax deduction for parking fines, late fees charged by the New Zealand Companies Office and the like.
Unfortunately, the tax rules ensure you do not get a benefit from being naughty.
Management Fees Charged By Australian Companies Now Have Additional New Zealand Tax Complications
From the current tax year (the one starting 1 April 2015) there are certain transactions that deal with associated persons that are now required to be reported for New Zealand tax purposes.
They apply when the associated person is not a tax resident of New Zealand.