In a first for New Zealand taxation, tax on New Zealand residents who are also subject to taxation of another country through citizenship is being addressed as New Zealand reviews the Foreign Investment Fund (FIF) rules. Earlier this year, Inland Revenue released a...
As 2024 draws to a close we would like to express gratitude for the opportunity to provide the assistance that we have during the year to our valued clients. We acknowledge our clients, employees, colleagues, and suppliers, and are grateful to all of you. This...
1. In line with other jurisdictions, cryptoassets (‘crypto’) are treated as property for NZ tax purposes. 2. The intention at the time of acquisition governs how it will be treated for NZ tax purposes. 3. Crypto which is purchased with the...
With Bitcoin hitting the $100k milestone this month, it’s an opportune time to examine the U.S. income tax treatment of virtual currencies. The U.S. tax principles regarding virtual currencies have evolved significantly since the Internal Revenue Service issued...
This week Inland Revenue released official’s issues paper, “Effect of the FIF rules on immigration: proposals for amendments”. Inland Revenue acknowledges the impact of the foreign investment fund (‘FIF’) rules on migrants and prospective...
