by Munro Benge | Aug 30, 2019 | Property
Buying or selling a home? You’ll now need to provide your IRD number as part of the transaction process. The change will allow IRD to know who’s flipping owner-occupier homes on a regular basis, and better enforce the existing law that ensures people pay tax on the...
by Munro Benge | Jun 14, 2019 | Newsletters, Property, Technical Updates
Ceiling and underfloor insulation will be compulsory in all rental homes from 1 July 2019. Landlords who don’t comply with the regulations will be committing an unlawful act and may be liable for a penalty of up to $4,000. What do landlords need to do? 1. Check...
by Munro Benge | Apr 18, 2019 | Newsletters, Property, Technical Updates
The current Labour-led Coalition Government will not proceed with the capital gains tax recommended by the Tax Working Group. The Prime Minister, Jacinda Ardern, said that the three parties in Government had been “unable to find a consensus”. She expressed regret that...
by Munro Benge | Jan 18, 2019 | Newsletters, Property, Technical Updates
On the 16 January 2019, the Finance and Expenditure Committee reported back on the Taxation (Annual Rates for 2018-19, Modernising Tax Administration, and Remedial Matters) Bill (72-2). Introduced into Parliament on 28 June 2018, the Bill proposes modernising the...
by Munro Benge | Dec 6, 2018 | GST, Property, Technical Updates, Trusts
On 5 December 2018, the Government introduced the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Bill (114-1) into Parliament. The Bill is expected to have its first reading on 12 December 2018. The Bill introduces...
by Munro Benge | Nov 22, 2018 | Property, Technical Updates, Trusts
The Court of Appeal has held that a ship’s captain had a permanent place of abode in New Zealand in the 2005 to 2009 tax years and was therefore liable to pay tax in New Zealand on his worldwide income. The Court of Appeal also upheld the Commissioner’s imposition of...
