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...
Self-employment tax was previously not imposed on income derived from an S-corporation*. Due to abuse. this is to change, leading to controversy over why an individual should incorporate at all when the income from an S-corp flows through to the individual. *An...
