The week's tax news in one handy summary.
New Zealand Tax
- Good primer here on depreciation and investment properties
- Company tax tracking $200m ahead of forecast | Crown accounts in deficit, but debt tracking below expectations
- December's Agent's Answers includes more about the new Accounting Income Method & an item on the tax valuation of breeder birds :)
- This is an outstanding explanation of how Inland Revenue uncovers tax evasion. A must read for both the general public and advisors.
- These are the measures proposed in July. Do not include foreign trusts & limited partnerships, yet | BEPS tax bill introduced
- Treasury's Briefing for the new Minister of Revenue has been released. Seem to be still waiting for Inland Revenue's briefing
- Inland Revenue Briefing to Incoming Minister now released. At first sight nothing out of the ordinary
United States Tax
- As clear a case of "Enact in haste, amend at leisure" as you'll ever see. But given the abysmal process hardly surprising | Senate GOP Accidentally Killed All Corporate Tax Deductions via @intelligencer
United Kingdom Tax
- There have been quite a few UK measures recently which could have significant effects for NZ trusts deriving UK sourced income and with a UK resident beneficiary. So trustees should check to see if they are in this situation.
- Remember BOTH Apple & the Irish Govt are appealing this decision. One to watch next year | Ireland expects Apple back tax in escrow account in first quarter, 2018
- Some interesting details here about how tax authorities are co-operating with each other in cases like this | Gucci confirms its offices were raided over suspected tax evasion
I follow interesting tax news stories from around the world and share them on Twitter.
These are a selection of our best tweets from the previous week.