by Munro Benge | Dec 3, 2019 | GST, Newsletters, Technical Updates
Purchases through overseas online retailers are subject to GST from 1 December 2019. From that date, most overseas businesses that sell goods to New Zealand consumers are required to charge GST on products valued at $1,000 or less. Consumers in New Zealand will pay...
by Munro Benge | Nov 29, 2019 | Technical Updates
On 27 November 2019, the Minister of Revenue, the Hon Stuart Nash, announced that New Zealand would participate in the Hague Convention relating to child support recovery. The Convention will help Inland Revenue find liable parents living overseas. The Minister is in...
by Munro Benge | Oct 15, 2019 | Technical Updates, Trusts
The Taxation Review Authority (TRA) has held that there was a tax avoidance arrangement involving a trust. The interest deductions claimed by each taxpayer were void against the Commissioner under s BG 1 of the Income Tax Act 2004. The background This case related to...
by Munro Benge | Jul 27, 2019 | Technical Updates, Trusts
The Trusts Bill (290-3) that was introduced on 1st August 2017, has passed its third reading in Parliament. The Bill now awaits the Royal assent. The Trusts Bill will replace the Trustee Act 1956 and the Perpetuities Act 1964 to make trust law more accessible, clarify...
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 | May 31, 2019 | Budget 2019, Newsletters, Technical Updates
With the focus firmly on wellbeing measures, Budget 2019 made no new tax announcements. The following tax measures were already revealed in the pre-Budget announcements: GST on telecommunications, and repeal of racing totaliser duty. GST on telecommunications The...
