A while ago I wrote about a call I had from a financial planner in New Zealand whose client had allegedly been denied an account and said I would research these allegations further. I have been doing some research on FATCA today as I write an update on this for the...
We are now watching the developments in respect of the United States Foreign Account Tax Compliance Act (FATCA) very closely. Awareness of the ramifications of this legislation is rising rapidly as another year draws to a close and the date of effect moves closer....
One of the new additions to the reporting requirements for United States taxpayers with financial assets located outside the United States is a new form 8938. It is currently being developed by IRS and is effective for taxable years beginning on or after January 1,...
Today the government confirmed that gift duty will be abolished, effective 1 October 2011. The move is yet to be legislated, but the process is expected to commence this month by way of inclusion in a new tax bill. This will be welcomed by private sector NZ, with the...
