Achieving your tax objectives in today's ever-evolving global landscape requires experience and foresight. Make the best decisions to strategically move your business forward with confidence.
Very few organisations have the interest in tax or the capacity to deal with it on a day-to-day basis. However, the tax laws under which we all operate can provide a huge benefit beyond simple compliance.
From large corporations to small family businesses – and every type of entity in between – advantages exist in the form of cloud accounting, profit sharing, tax pooling and many other innovations. What’s more, tax plays a large part in major business transactions, as well as in everyday operations, transformation projects and when looking to get the most out of your workforce. In short, there’s hardly any part of business that tax doesn’t touch, so it pays to get it right.
That’s not always so simple for New Zealand businesses. Complex tax laws on things like GST, Customs and Excise and International Tax are constantly being tweaked and refined. You need to stay ahead and make sure you’re finding innovative solutions to tax problems.
We love working with our clients to help them to understand and apply the law in an effective and valuable way. In today's complex environment, businesses require the combination of commercial, accounting and legal advice, and we’re positioned to provide all three at the highest level.
The varied tax services we offer are purposefully designed to solve particular client issues. We’re confident that after a short discussion, we can come up with the best, most valuable approach to your taxation challenges.
And as part of the worldwide PwC network, we can tap into our wider resources to help Kiwi businesses get a global footing. Whether that involves complying with tax laws in a foreign country or applying solutions that have been tried and tested elsewhere in the world, we’re proud to be able to give our clients a competitive edge.
In this special edition of Tax Tips, we provide an update on the Government’s recently-released policy decisions on new BEPS-related measures. We also highlight several key aspects of the Multilateral Instrument recently signed by the Government along with 75 other countries.
In this issue: The future of tax compliance for individuals The future of social policy administration Inland Revenue appoints new Deputy Commissioners
On 25 May, as part of the Government’s 2017 Budget, the Ministers of Finance and Revenue proposed significant amendments to the deductibility of feasibility expenditure and black hole expenditure. Details of these proposals are included in the Government’s discussion document, Black hole and feasibility expenditure (the Discussion Document).
Potential migration to New Zealand is clearly a global topic. In the wake of Brexit and the United States election, there have been numerous statistics and articles published about increased interest in relocating to New Zealand. As a country, therefore, we are in an enviable position as we can potentially take our pick from wealthy and experienced investors who may bring many benefits to the economy.
Our May Tax Tips comments on New tax bill (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) introduced, guidance on key tax changes enacted in recent Act and the Australian Federal Budget 2017-2018.
On 19 April 2017, Immigration Minister Michael Woodhouse outlined several further proposed and confirmed changes to NZ’s immigration rules.
On 6 April 2017 theTaxation (Annual Rates for 2017-18, Employment and Investment Income, and Remedial Matters) Bill introduced proposed changes to the taxation of employee share schemes (ESS) into the legislative process. If enacted as expected, the new law will fundamentally change the way ESS are taxed.
In our March 2017 edition, we update you on the latest GST developments including: - GST on services performed for non-residents in connection with land - CZR case heading to Court of Appeal - Australia to impose GST on low value goods imports - Update on the Customs and Excise Bill 2016
Geof Nightingale
Managing Partner
Tel: +64 9 355 8853
Email
David Lamb
Partner
Tel: +64 9 355 8419
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