The Week In Tax
Episodes
Talking Trusts with Tammy McLeod
24 Aug 2023
Contributed by Lukas
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...
Whither the Generic Tax Policy Process, changing rules around taxation of trading stock & more
17 Aug 2023
Contributed by Lukas
The current state of the Generic Tax Policy Process and when does consultation become lobbying? Changing the rules around disposing of trading stock...
Labour's tax policy, GST groups & notes from the Trans-Tasman IFA Conference
13 Aug 2023
Contributed by Lukas
A look at the Labour Party's announcements about GST zero-rating fresh & frozen fruit & vegetables & changes to working for families Inland Revenue...
How IRD could help spot struggling businesses & manage debt better, tax changes to help startups
03 Aug 2023
Contributed by Lukas
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 Nat...
A new Revenue Minister, IRD's construction sector initiative & Te Pati Māori's tax policy
27 Jul 2023
Contributed by Lukas
The new Minister of Revenue returns to her old stomping grounds Inland Revenue launches a pilot programme for the construction industry Is Labour a...
The R&D loss tax credits regime, progress on the OECD/G20 global tax deal & more
20 Jul 2023
Contributed by Lukas
Inland Revenue releases guidance on the research & development loss tax credits regime OECD announces progress on the global minimum tax deal Philli...
The Budget tax switch that never happened & Inland Revenue quizzed about its investigation activity
16 Jul 2023
Contributed by Lukas
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 fir...
Trustee tax rate controversy, IMF working paper on taxation of crypto & latest tax take details
07 Jul 2023
Contributed by Lukas
Submissions on latest tax bill including the proposed trustee tax rate increase close next Friday, what's proposed? An important working paper from ...
Time to increase the GST threshold, watch out for the Airbnb trap and has EY gone woke
30 Jun 2023
Contributed by Lukas
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 ...
Diana Crossan on her time as Retirement Commissioner & why she signed the open letter on tax
22 Jun 2023
Contributed by Lukas
Dame Diana Crossan discusses her time as Retirement Commissioner & the big changes to the retirement landscape she helped initiate. Diana also expla...
Greens wealth tax bombshell, IMF suggest a CGT, crypto-asset reporting & Auckland's budget
15 Jun 2023
Contributed by Lukas
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-Ass...
Tax Principles Reporting bill, ATO issues new ruling on residency & more
08 Jun 2023
Contributed by Lukas
Due date for submissions on the Tax Principles Reporting Bill Australian Tax Office ruling on residency - time for a clearer statutory definition? A...
More from Inland Revenue about trusts & tax misalignment, BEPS, climate change
01 Jun 2023
Contributed by Lukas
This week Inland Revenue clarifies its position on trusts and tax avoidance & indicates further work on tax rate misalignment is needed Facebook & Go...
GloBE tax proposals legislation introduced, a tax principles bill & more on the Budget
25 May 2023
Contributed by Lukas
Government introduces the legislation to implement the proposed Piillar Two global minimum tax More on the proposed trustee tax rate increase, a long...
Budget Special
18 May 2023
Contributed by Lukas
The almost no tax surprises Budget - an increase in the trustee rate but no action, yet, on tax rates and thresholds
Are leaky building repairs deductible? The Australian Budget & New Zealand Budget predictions
11 May 2023
Contributed by Lukas
Technical Decision Summary considers when leaky building repairs are deductible Some interesting measures in this week's Australian Budget A look a...
More help for flood-hit businesses, renting rooms to flatmates & provisional tax
04 May 2023
Contributed by Lukas
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...
Podcast special with Shamubeel Eaqub analysing Inland Revenue's high wealth individuals report
27 Apr 2023
Contributed by Lukas
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 revea...
Controversial Sapere report causes a stir, IRS report on FATCA data & more
21 Apr 2023
Contributed by Lukas
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...
Happy New Tax Year - a new FBT exemption, interest & short stay accommodation & climate change
13 Apr 2023
Contributed by Lukas
A warning about the new FBT exemption for bikes & public transport How the interest limitation rules apply to providers of short-stay accommodation ...
A taxpayer screws around & gets found out, landlords & interest & are breast implants tax deductible
30 Mar 2023
Contributed by Lukas
A taxpayer screws around & gets found out by Inland Revenue Is landlording a business like other businesses? Are breast implants tax deductible?
5 tips to get ready for tax year-end, reforming working for families, UK cash basis to be expanded
23 Mar 2023
Contributed by Lukas
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...
IRD launches its construction compliance campaign, surprise FBT exemption& the UK Budget
16 Mar 2023
Contributed by Lukas
Inland Revenue launches its tax toolbox for tradies to improve compliance in the construction industry The Government introduces a surprise fringe be...
Inland Revenue interpretation statement on tax avoidance, updated home office allowances & more
09 Mar 2023
Contributed by Lukas
Plenty to consider in Inland Revenue's latest Interpretation Statement on tax avoidance Working from home allowances updated GST and Donation Tax Cr...
Inland Revenue gets back to core business, latest GST updates & more
05 Mar 2023
Contributed by Lukas
Inland Revenue targets the construction section GST changes for the platform economy to proceed, Inland Revenue clarifies the GST treatment of a pr...
Latest tax updates on Cyclone Gabrielle & Treasury's 2021 long-term insights briefing
24 Feb 2023
Contributed by Lukas
Latest tax developments in Cyclone Gabrielle response Some suggested tax measures for response Treasury's 2021 warnings about meeting fiscal challen...
Cyclone Gabrielle - what assistance from Inland Revenue is available
16 Feb 2023
Contributed by Lukas
This week we focus on what assistance is available from Inland Revenue for those affected by Cyclone Gabrielle
2023 Tax Predictions
02 Feb 2023
Contributed by Lukas
Terry Baucher discusses three major trends that could have an impact on tax policy, along with his hopes for 2023.
Don't look back in anger, the year in review
16 Dec 2022
Contributed by Lukas
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 ye...
Vivien Lei's prize winning proposal for an environmental impact tax
08 Dec 2022
Contributed by Lukas
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 weigh...
Latest OECD stats on corporate tax, Government's tax revenue to 31st October & more
02 Dec 2022
Contributed by Lukas
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...
Taxpayer wins against Inland Revenue, tax advisors support a CGT & more
24 Nov 2022
Contributed by Lukas
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 in...
GST & the Platform Economy, Inland Revenue & the Cost of Living payments & a tax-free threshold?
17 Nov 2022
Contributed by Lukas
More on the proposed GST changes for the platform economy. Inland Revenue believes 70,000 incorrectly received a cost of living payment. The pros ...
Lessons from the UK about GST exemptions, could you be subject to UK tax & more
10 Nov 2022
Contributed by Lukas
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 A...
Green party proposes excess profits tax, ATO's Corporate Tax Transparency & OECD on carbon taxes
03 Nov 2022
Contributed by Lukas
This week the Green Party suggests an excess profits tax & quotes Margaret Thatcher in support The Australian Tax Office’s latest Corporate Tax Tra...
This week a deep dive into Inland Revenue's 2021-22 annual report
27 Oct 2022
Contributed by Lukas
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 targets multinationals re overpaid wage subsidy, the Asia Initiative & more on Frucor
20 Oct 2022
Contributed by Lukas
Inland Revenue recovers $33 million of overpaid wage subsidy from multinationals, The Asia Initiative is launched More on the Supreme Court's deci...
OECD proposals on crypto-asset reporting, Government proposes a new greenhouse gas levy & more
13 Oct 2022
Contributed by Lukas
OECD proposes a Crypto-asset reporting framework Government suggests a new levy for farmers greenhouse gas emissions and more about the politics an...
GST record-keeping changes on the way, Supreme Court rules on Frucor tax avoidance & more
06 Oct 2022
Contributed by Lukas
Change coming for GST record-keeping requirements, A controversial dissent by a Supreme Court Justice in a major tax avoidance case Government's ta...
Inland Revenue FBT compliance programme, build-to-rent interest deduction & the UK mini-budget
29 Sep 2022
Contributed by Lukas
Inland Revenue gets ready to launch a campaign on FBT compliance The Government ignored Treasury and Inland Revenue advice regarding its build-to-re...
Cost of living payments, backdated ACC compensation & latest from OECD on tax policy reforms
22 Sep 2022
Contributed by Lukas
More details emerge regarding Inland Revenue’s handling of the cost of living payments Doomed tax case highlights the need for change to taxation o...
Binding rulings illustrate the hidden tax traps, Treasury discusses tax & housing & more
15 Sep 2022
Contributed by Lukas
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-...
IRD's first long-term insights briefing, FBT regulatory review, & residential property taxation
08 Sep 2022
Contributed by Lukas
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 ...
New tax bill hits the headlines but other than GST & KiwiSaver what else does it contain
01 Sep 2022
Contributed by Lukas
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 ...
Provisional tax & use of money interest, time for a residential land value tax & more
25 Aug 2022
Contributed by Lukas
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 ...
Tax break forbuild-to-rent developers, role of tax in the housing crisis & donations to schools
18 Aug 2022
Contributed by Lukas
Build-to-rent developers can be exempt from interest deductibility limitation New report examines the role has tax played in the housing crisis Inl...
More on the cost of living payments, the sustainability of the tax system, Biden's tax deal & more
11 Aug 2022
Contributed by Lukas
This week, some interesting snippets from the Budget Information release including more on the cost-of-living payment, The international tax implica...
Death, taxes, cost of living payments & Donald Trump, climate change adapation & tax
04 Aug 2022
Contributed by Lukas
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 t...
Tax losses & business continuity, IR finds director personally liable for company debts & more
28 Jul 2022
Contributed by Lukas
Inland Revenue draft interpretation statement on tax loss carry-forward and continuity of business activities Inland Revenue applies little-known pro...
Inland Revenue guidance on building depreciation, effective marginal tax rates & taxation of housing
21 Jul 2022
Contributed by Lukas
Inland Revenue releases guidance on when buildings are depreciable Who actually suffers the highest effective marginal tax rates in Aotearoa OECD re...
Using Inland Revenue against the Gangs, latest international tax developments & more
14 Jul 2022
Contributed by Lukas
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 ...
Inland Revenue clampdown on overdue debt, GST on directors' fees, Corporate tax take & more
07 Jul 2022
Contributed by Lukas
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 ...
Inland Revenue offshore tax compliance programme, draft guidance on international travel & more
30 Jun 2022
Contributed by Lukas
This week we focus on international tax Firstly, Inland Revenue launches its offshore tax compliance programme Draft guidance on deductiblity of ove...
Financial arrangements & cash basis persons, IRD & real estate agents, Google NZ's latest results
24 Jun 2022
Contributed by Lukas
Inland Revenue releases guidance on cash basis persons & the financial arrangements regime Inland Revenue campaign targeting estate agents pays off ...
Disposals & changes in co-ownership for land taxation purposes, disputes process & more
16 Jun 2022
Contributed by Lukas
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 l...
Inland Revenue pauses controversial proposals, tax & the emissions reduction plan & more
09 Jun 2022
Contributed by Lukas
Inland Revenue backs off on controversial proposals at the same time as a Technical Decision Summary illustrates why Inland Revenue believes change is...
Cost of Living Payment, mileage reimbursement, windfall taxes and more
02 Jun 2022
Contributed by Lukas
Inland Revenue releases more details about the Cost of Living Payment Kilometre rates for the 2021-2022 income year Windfall taxes & wealth A war...
Inland Revenue concerns over cost of living payments, GST warning for farmers & more
26 May 2022
Contributed by Lukas
Inland Revenue raises concerns about its ability to deliver the Cost of Living payments A potentially unwelcome GST surprise for farmers selling up ...
Budget 2022 special
19 May 2022
Contributed by Lukas
No Budget tax surprises but Inland Revenue gets a boost
Inland Revenue consults on international tax, gets a new CEO, & more plus The Rolling Stones
12 May 2022
Contributed by Lukas
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 we...
Inland Revenue reminders about 2022 tax returns, investigates Covid support payments & more
05 May 2022
Contributed by Lukas
Inland Revenue gets ready for tax return filing season Inland Revenue cranks up its review of Covid-19 support payments Some interesting insights ...
A Tax Principles Act? Submission deadline on controversial integrity measures & more
28 Apr 2022
Contributed by Lukas
Minister of Revenue philosophizes on tax & proposes a Tax Principles Act Deadline for submissions on two controversial tax integrity proposals Inlan...
Use of money interest rate rises, trust reporting obligations & UK rules for non-domiciled persons
21 Apr 2022
Contributed by Lukas
Inland Revenue use of money interest and prescribed rate of interest rates rise Guidance on the reporting requirements for trusts released and The ...
Comparing NZ's taxation of property, OECD proposals for crypto-assets reporting & more
07 Apr 2022
Contributed by Lukas
How does tax on New Zealand property compare with other countries? The OECD consults on a new global tax transparency framework for crypto-assets I...
Interest limitation rules enacted, defining cash basis persons, the Australian Budget
31 Mar 2022
Contributed by Lukas
Interest limitation rules and bright-line test changes now enacted More Inland Revenue guidance on the financial arrangements rules Matters of in...
Countering top tax rate avoidance, GST and food year end, tax planningtax year end
24 Mar 2022
Contributed by Lukas
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...
Bumper round up edition, tax bill reported back, new Inland Revenue consultations
17 Mar 2022
Contributed by Lukas
The Finance and Expenditure Committee reports back on the tax bill relating to the interest deduction limitation rules Inland Revenue releases a swat...
Covid support package announced, OECD Secretary-General's tax update & support for CGT
24 Feb 2022
Contributed by Lukas
The Government's new COVID support package. The OECD Secretary General reports on progress on the new multinational tax deal & other initiatives Pol...
Deductibility of Covid-19 expenditure, future of tax administration, the tax perils of migrating
17 Feb 2022
Contributed by Lukas
Inland Revenue guidance on the deductibility for income tax purposes of costs incurred due to COVID-19, Inland Revenue releases an issues paper on t...
PAYE for non-resident employers, calculating foreign tax credits & more on social insurance
10 Feb 2022
Contributed by Lukas
Inland Revenue operational statement on how PAYE applies in cross-border employment situations; How to calculate foreign tax credits; and Could th...
Proposed income insurance scheme, IRD's initial view on the new 39% tax rate & more
03 Feb 2022
Contributed by Lukas
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 lat...
A look ahead at the coming year in tax, Omicron, international tax & what next for IRD
27 Jan 2022
Contributed by Lukas
Now Omicron is here what support is available? What next for international tax reform? After Business Transformation what next for Inland Revenue an...
Half Year Economic Update, Covid-19 update & looking back at the big tax stories of 2021
16 Dec 2021
Contributed by Lukas
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 bigg...
Chinese tax authority assists tax evasion case, OECD tax revenue in 2020 & more
09 Dec 2021
Contributed by Lukas
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 In...
Latest Covid-19 developments, Christopher Luxon & taxing property, Charities & Donees in spotlight
02 Dec 2021
Contributed by Lukas
Latest Covid-19 developments How Christopher Luxon's property portfolio is representative of the taxation of property debate Inland Revenue releases...
The changing international tax scene with Professor Craig Elliffe
25 Nov 2021
Contributed by Lukas
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...
Improving the quality of tax legislation, concerns about increased powers of tax authorities & more
18 Nov 2021
Contributed by Lukas
What Inland Revenue needs to do to improve the quality of tax legislation Growing concerns about potential for misuse of new investigative powers for...
The law of unintended consequences special tax edition
11 Nov 2021
Contributed by Lukas
Tax and the law of unintended consequences - how perfectly rational decisions over appointment of a trustee or helping children purchase a house can h...
New trust reporting requirements, a concerning Australian tax case & taxing ACC arrears
04 Nov 2021
Contributed by Lukas
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...
Latest Covid-19 announcements, & a review of Inland Revenue's 2021 Annual Report
28 Oct 2021
Contributed by Lukas
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
New bright-line test rollover relief proposals, IRD high-wealth individuals research project
21 Oct 2021
Contributed by Lukas
A closer look at the new bright-line test rollover relief provisions Inland Revenue launches a new research project into high-wealth individuals Fee...
International tax agreement and Professor Lisa Marriott on IRD's debt management
14 Oct 2021
Contributed by Lukas
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 ...
Bright-line rollover relief, land tax implications of changes of ownership & more
07 Oct 2021
Contributed by Lukas
A look at the bright-line test rollover relief included in last week's land tax proposals Inland Revenue releases consultation on implications of lan...
First look at the draft legislation for the interest limitation rules
30 Sep 2021
Contributed by Lukas
Draft interest limitation legislation including 20 year new build exemption, interest deductions on taxable disposals and the view of the Ministry of...
IFAC report surveying public trust in G20 tax systems, FEC inquiry on cryptocurrencies & more
23 Sep 2021
Contributed by Lukas
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 Expen...
Latest lockdown developments, NZ Super Fund's $2.3 billion tax bill, funding NZ Super
17 Sep 2021
Contributed by Lukas
Latest Lockdown developments including third round of wage subsidy and second Resurgence Support Payment NZ Super Fund pays $2.3 billion in tax on re...
New tax bill revises cryptasset tax treatment, Treasury's long term forecasting
09 Sep 2021
Contributed by Lukas
The Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Bill clarifies the GST treatment of cryptoassets, Latest Lockdown developments...
Latest Lockdown developments, more Inland Revenue advice on allowances
02 Sep 2021
Contributed by Lukas
This week, latest lockdown developments, Inland Revenue issues new determination on allowances & on home office expenditure Could a tax forgiveness...
Lockdown latest, Provisional tax & GST payments, beware distributions to overseas beneficiaries
26 Aug 2021
Contributed by Lukas
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 beneficia...
Back in lockdown - what support is available?
19 Aug 2021
Contributed by Lukas
What Government support is available for businesses & self-employed affected by the lockdown? What is the tax treatment of allowances for employees r...
Tax implications of clean car discount scheme, IRD audit activity, latest Corporate Statistics
12 Aug 2021
Contributed by Lukas
Inland Revenue guidance on the tax implications of the Clean Car Discount Latest on Inland Revenue’s audit activity Insights from the OECD’s lat...
Working from home allowances, greater scrutiny of crypto-assets & criticism of Govt's tax policy
29 Jul 2021
Contributed by Lukas
Time for a more generous approach to working from home allowances Tax agencies stepping up scrutiny of crypto-assets Former Treasury Chief Economist...
Beware the financial arrangements regime, latest on interest limitation proposals & time for a FER
22 Jul 2021
Contributed by Lukas
Beware the great unknown of NZ tax - the financial arrangements regime Not many happy about the interest limitation proposals Time for a new approa...
Cryptoassets under the spotlight in Australia & New Zealand, deductibility of meal expenses
15 Jul 2021
Contributed by Lukas
Parliament's Finance & Expenditure Committee launches inquiry into cryptoassets, tax treatment of forks & hard drops Deductibility of meal expenses o...
Unintended consequences of interest limitation rules, FBT on twin-cab utes, deemed dividends
08 Jul 2021
Contributed by Lukas
The unintended consequences of the interest limitation proposals A coming clampdown on the fringe benefit tax rules around twin cab utes Inland Rev...
Interest limitation proposals for taxable sales, international agreement on global taxation & more
01 Jul 2021
Contributed by Lukas
How the interest limitation rules will apply to taxable sales of property Interpretation statement on income tax & GST treatment of businesses disrup...
What is a new build? Fighting Tax Crime & new purchase price allocation rules
24 Jun 2021
Contributed by Lukas
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...
G7 agreement on international tax, Climate Change Commission, FBT & work related vehicles
17 Jun 2021
Contributed by Lukas
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 Gov...
First look at detailed interest limitation rule and additional bright-line rules
10 Jun 2021
Contributed by Lukas
An overview of the Government's discussion document on the Design of the interest limitation rule and additional bright-line rules
What's going on at Inland Revenue? Google NZ's 2020 results & bright-line tes
03 Jun 2021
Contributed by Lukas
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...