Tax Alert - August 2014
Tax Alert is a monthly publication that keeps you up to date with the latest developments in tax. The alert is compiled by our national tax specialists who are continually monitoring the outlook for new tax developments and analysing the implications for our clients.
Important changes affecting directors and general partners
Last month, an Act was finally passed which makes significant amendments to the Companies Act in order to strengthen the governance, registration, and reconstruction of companies. Underlying these changes was the concern that offshore interests were misusing New Zealand’s Companies regime to engage in criminal activities overseas.
Also in this issue:
- Tax function – positive return on sensible investment
- Company administration costs – deductible or not?
- Does having a property in New Zealand constitute tax residency?
- Guidance on transitional rules for tax positions on residence updated
- Taxation for deregistered charities and a new tax exemption for the community housing sector
- Refunds available for employer provided accommodation
- United Kingdom pensions – foreign tax credits
- Update on IR position regarding when tax payments are received in time