Yearly Archives :2020
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A look at Budget 2020 and the surprising lack of additional funding for Inland Revenue and Ministry of Social Development.

A look at Budget 2020 and the surprising lack of additional funding for Inland Revenue and Ministry of Social Development. How bad will the loss of tax revenue be?   Transcript Budget 2020 contained no new tax measures beyond those already announced as part of the COVID-19 response: the loss carry back scheme, depreciation on buildings, […]

Inland Revenue guidance on how FBT applies during the Lockdown.

Inland Revenue guidance on how FBT applies during the Lockdown. Is the wage subsidy scheme available for landlords? A look ahead to next week’s Budget.   Transcript Inland Revenue has been working pretty hard to bring out material addressing questions raised by the Covid-19 pandemic. I discussed last week the new determination in relation to payments made […]

Inland Revenue releases a determination on payments to employees for working from home

Inland Revenue releases a determination on payments to employees for working from home COVID-19 tax measures legislation is introduced Provisional tax is due 7th May   Transcript This week, Inland Revenue releases a determination on payments to employees for working from home. The COVID-19 tax measures legislation is introduced and in case you forgot, Provisional […]

Latest guidance from Inland Revenue on Covid-19 tax measures

Latest guidance from Inland Revenue on Covid-19 tax measures Draft guidance from Inland Revenue on tax implications of owning overseas rental property and application of financial arrangements rules DIA ruling on AML-CFT   Transcript. This week, the latest from Inland Revenue on its response to the Covid-19 pandemic. Inland Revenue releases draft guidance for consultation […]

New temporary loss carry-back regime – will it help small businesses?

New temporary loss carry-back regime –  will it help small businesses? The inherent flaw in the foreign investment fund regime; and The rules around claiming deductions for working at home   Transcript In today’s podcast, will the latest government tax measures help small businesses? The inherent flaw in the foreign investment fund regime. And we […]

Working from home – can you claim a deduction for your expenses?

Are extra expenses and use of personal assets to work from home deductible against your taxable income? As usual with tax, its complicated. We’re in week three of the Lockdown, and although the Prime Minister has indicated there may be a possible shift to Level 3 from 22nd April, a majority of employees may still be […]

More on Inland Revenue’s criteria for relief as a result of the COVID-19 Pandemic

More on Inland Revenue’s criteria for relief as a result of the COVID-19 Pandemic The fringe benefit tax lesson from David Clark’s misadventures The pros and cons of a Financial Transactions Tax   Transcript This week, Inland Revenue has been updating its guidance as to the measures that have been introduced by the Government to help in […]

More on Inland Revenue’s response to COVID-19

More on Inland Revenue’s response to COVID-19 Inland Revenue is closing down next week How might COVID-19 affect tax in the future?   Transcript In today’s article, more on Inland Revenue’s response to the Covid-19 pandemic. Inland Revenue is closing down, but only temporarily, and what lies ahead in the tax world. Inland Revenue grudging […]

Terry’s top five

When a post COVID-19 world dawns, there’ll be plenty of options for new taxes. Photo: Terry Baucher. Terry Baucher on rising tax rates, the taxation of capital, environmental taxes, a rising corporate tax take and increasing power and reach of tax authorities 1) In the short-term tax rates will rise.  The initial shock to government […]

More on the COVID-19 measures, unintended consequences and what next?

Explaining some of the detail about the Government’s COVID-19 package Inland Revenue discretion about waiving use of money interest Tax residency and unintended consequences of COVID-19 Time to defer 7th May provisional tax and GST payments   Transcript Mike Tyson once said everybody’s got a plan until they get a punch in the mouth, and […]

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