by Munro Benge | Oct 11, 2018 | GST, Technical Updates
In a test case involving stakes payments in the racing industry, the High Court has held that the Canterbury Jockey Club Inc (the Club) was entitled to GST input tax deductions for stakes payments paid to GST-registered trainers and jockeys in horse races conducted by...
by Munro Benge | Oct 9, 2018 | Technical Updates
The High Court has held that the taxpayer failed to establish that debts were written off as bad at the relevant time or that the debtors were released from making all remaining payments by law. The taxpayer also failed to establish that he carried on business for the...
by Munro Benge | Oct 5, 2018 | Technical Updates
On 3 October 2018, the Government announced the design of the research and development (R&D) tax incentive following extensive consultation with business. The key features of the R&D tax incentive include: a credit rate of 15% a $120 million cap on eligible...
by Munro Benge | Oct 5, 2018 | Technical Updates
The Social Security Act 2018 (No 32 of 2018) received the Royal assent on 28 September 2018 and mainly comes into force on 26 November 2018. The Social Security Bill (now the Social Security Act 2018) was formerly part of the Social Security Legislation Rewrite Bill...
by Munro Benge | Oct 3, 2018 | Technical Updates, Trusts
The High Court has held that annual forgiveness of debts to a charitable trust are monetary gifts paid to that charitable trust and as such qualified as charitable gifts. The background On 14 October 2007, Mrs Roberts and her late husband jointly established the Oasis...
by Munro Benge | Oct 3, 2018 | Technical Updates
The High Court has upheld the second deregistration decision made by the Charities Registration Board (Charities Board) in relation to the charitable status of Family First New Zealand (Family First). Family First’s appeal from this deregistration decision was...
