insights
Capital gains tax in New Zealand
New Zealand, unlike Australia, the United States and the United Kingdom, does not have a full-blown capital gains tax (CGT) regime.
Taxpayer Advocate Service
The IRS runs a Taxpayer Advocate Service which is available for problem resolution when the normal channels don’t effectively resolve the problem.
Expatriation from the United States
By Gina Wallace, Director Facebook co-founder and billionaire Eduardo Saverin was reported to relinquish his United States citizenship recently, prior to the initial public offering of Facebook....
Paying it forwards
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,...
Top ten facts about the NZ tax treatment of cryptocurrencies
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...
What’s in a coin?
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...
New Zealand to review FIF rules
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...
Section 250 deduction for GILTI
Following on from Excess Profits and GILTI, we will now look into the Section 250 deduction. Section 250 applies to tax years beginning on or after January 1, 2018. Until 31 December 2025, the...
Excess profits taxes and U.S. GILTI
‘Excess profits taxes’ is not a term that is frequently heard here in NZ. This is unlike the term ‘capital gains tax’, which has been a longstanding political football for the country. This week,...
IRS announces significant revenue milestone – 1.3 billion in tax revenue collected through its High Income, Non-Filer campaign
By Gina Gatchell, Director "During the previous administration, as audit rates on high-income taxpayers fell, the share of audits on taxpayers with incomes under $200,000 increased," Yellen said in...
Let’s take a deep dive into KiwiSaver
Many countries develop and manage their tax policies to influence socio-economic behaviour. N.Z. is one such example. N.Z. has traditionally been slow to prepare its inhabitants for retirement....
Let’s take a deep dive into foreign trusts
Trusts are a way of life in N.Z. They are quintessentially used for a variety of purposes. Estate planning, asset protection, and wealth management are common examples. Whilst especially so for...
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