Showing posts under "Specialist Tax"

Definition change may affect your Working for Families Tax Credit

Dated: April 26, 2018

A recent legislative change has amended the definition of “close company” for income tax purposes. While the change seems minor, inserting the words “or trustees” into the definition, the ramifications for shareholders in closely-held family companies could be more significant, particularly where those shareholders receive Working for Families tax credits. Previously, to be a closeContinue reading 

Make sure you’re never again in the red with IRD

Dated: February 27, 2018

Tax pooling is an IRD-approved service that helps businesses make the right tax payments at the right time. It offers a better way to manage provisional tax, so you can optimise your cashflow and even earn additional revenue, all the while reducing costs and saving time. Crowe Horwath has an arrangement with Tax Management NZ,Continue reading 

New year, new tax rules

Dated: January 29, 2018

The tax landscape is always changing and 2018 will be no different. When Parliament resumes it will continue consideration of two tax bills. The Taxation (Neutralising Base Erosion and Profit Sharing) Bill contains amendments designed to prevent multi-nationals structuring around New Zealand tax laws and exploiting mismatches in the cross-border tax treatment of transactions toContinue reading 

Tax Working Group’s terms of reference announced

Dated: December 14, 2017

At the end of November, the coalition Government announced the terms of reference of the Government’s Tax Working Group and named Sir Michael Cullen as chair of the Group. The Government is to announce the other members of the Group before Christmas who will be “a diverse range of tax and finance experts and representativesContinue reading 

Tax bills’ progress through Parliament

Dated: December 14, 2017

While any changes to the tax system resulting from the Tax Working Group may still be some years off, two tax bills currently progressing through Parliament will have an effect on the tax system sooner. The National Government introduced the Taxation (Annual Rates for 2017-18, Employment and Investment Income, and Remedial Matters) Bill and theContinue reading 

Is your Christmas function tax deductible?

Dated: November 16, 2017

It may only be November, but Christmas is fast approaching and so is the time when businesses and organisations hold their end-of-year functions. The costs associated with holding an end-of-year function for staff, customers or both will generally be deductible to a business. However, expenditure in relation to such functions will generally come within theContinue reading