NZ Tax Residency: IS 16/03 issued

NZ Tax Residency: IS 16/03 issued

Following the 2015 tax residency case CIR v Diamond, which went to the Court of Appeal, Inland Revenue has updated its tests for NZ tax residency through the issue of Interpretation Statement IS 16/03, issued 21 September 2016. IS 16/03 supersedes IS 14/01, issued in...

Transactions with foreign trusts

If you’re a U.S. citizen with a foreign trust, take heed of the U.S. tax implications of having your trust. It is nigh on impossible for the trust to be treated as a separate entity for U.S. tax purposes – or that portion of the trust’s assets that...
US Tax Treatment of Employee Stock Options

US Tax Treatment of Employee Stock Options

Whilst New Zealand is underway with revamping its tax rules around employee share schemes, the United States has a well-defined framework for the tax treatment of such schemes, including stock options. US rules Employee stock options in the United States fall into two...

Tax Policy Work Underway in New Zealand

It is interesting to observe the Inland Revenue Department’s policy programme, which is currently focussing on three key areas:   1. Business transformation; 2. BEPS and international tax reform; and 3. further improvements and enhancements to tax and social...

NZ revamp – tax treatment of ESS

Following an officials’ issues paper released by the Inland Revenue Department in May this year, an updated consultation paper on the New Zealand tax treatment of Employee Share Schemes (ESS) was issued earlier this month. Revision of the New Zealand tax...