New Zealand’s territorial tax system

New Zealand was the first country in the world to introduce the concept of corporate territorial taxation through the Land and Income Tax Assessment Act of 1891. It was, however, the 1990s before New Zealand had developed a comprehensive extraterritorial taxation...

The Future of U.S. tax reform

‘No-one can tell you what will happen in the future. But some people can really give you vision about what might happen’ (David Lifson CPA, introducing former House Ways and Means Committee Chairman Mr Dave Camp at the 2015 AICPA National Tax Conference). Mr Camp...
IRS Penalties – one-off remission opportunity

IRS Penalties – one-off remission opportunity

Taxpayers who have had penalties imposed by the Internal Revenue Service have the opportunity for a one-off remission of the penalties in certain circumstances. Taxpayers with a good filing history may have late payment and late filing penalties removed through a call...

Foreign Tax Credit Availability for US citizens

We are actively working with various stakeholders who are affected by the issue around foreign tax credit availability for US citizens residing in New Zealand. A further update will be available in April.

Presumption Rules – Grantor Trusts

The discretionary trust has traditionally been a popular entity to form in New Zealand for a variety of reasons, including asset protection and estate planning. A discretionary trust provides the trustees of the trust with discretionary powers to make decisions that...
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