{{item.videoDuration}}
{{item.title}}
{{item.text}}
{{item.videoDuration}}
{{item.title}}
{{item.text}}
Tax Tips Alert: April 2023
Does New Zealand have a “fair” tax system?
Yesterday, the Government released a report which looked at the effective tax rate paid by high wealth individuals (HWI). The headline news is that the median HWI family paid 8.9% of their economic income in tax (as many expected, given the absence of a comprehensive capital gains tax in New Zealand, and the proportion of economic income which relates to capital gains for the very wealthy). In this edition of Tax Tips, we explain Inland Revenue’s methodology, the report’s findings, and what this could mean for tax policy in New Zealand.
In addition, there have been a number of other recent tax developments which will have significant impacts for businesses across a range of sectors, including:
- New information reporting and GST obligations for platform operators in the gig and sharing economy
- Changes to the GST apportionment rules
- GST tax invoice changes
- Changes to tax obligations in relation to cross-border workers
- New rules and proposals relating to tax information reporting for payment service providers and crypto intermediaries
- New Inland Revenue guidance on the GST treatment of directors’ fees
If you would like any further detailed advice on what the above developments mean for you, please reach out to your usual PwC advisor.
{{filterContent.facetedTitle}}
{{contentList.loadingText}}
{{contentList.loadingText}}
Contact us
Follow us
