Tax Alert - June 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.
GST - Timing errors do matter
In mid-May, Inland Revenue updated its annual tax statistics for the year ended June 2013. The revenue statistics show that, once again, GST leads the way in terms of percentage increase in revenue collection for the department. This news, combined with the GST coverage in Inland Revenue’s Compliance document (released towards the end of 2013), show that GST is a continuing area of focus for Inland Revenue.
Also in this issue:
- Overseas borrowings on offshore rental property – a new focus
- Questions Inland Revenue has been asked on tax avoidance
- When is a tax resident not a tax resident?
- Inland Revenue issues Alert over donation claims