There are major changes occurring in 2011 once legislation has been passed, affecting Loss Attributing Qualifying Companies (LAQCs) and Qualifying Companies (QCs) under NZ tax legislation. From 1 April 2011, the ability to attribute losses through an LAQC will no...
GST increases in New Zealand effective 1 October 2010. This has been heavily publicized by accounting professionals and the Inland Revenue Department in the past month. New Zealand still does not exempt necessary items such as food from GST as does Australia. Tax cuts...
According to the Chief Advisor – International Audit – IRD, the top ten errors associated with international tax compliance with respect to the taxation of NZ tax residents are as follows: Error 1: NZ tax residents are taxable on income from NZ...
On the topic of GST and cross-border transactions, a relatively unknown rule affecting the importers of services into New Zealand was enacted in 2003 under the Taxation (GST, Trans-Tasman Imputation and Miscellaneous Provisions) Act 2003. From 1 January 2005,...
