Terry’s Tax Roundup – 8 – 15 March 2019
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Terry’s Tax Roundup – 8 – 15 March 2019

The week’s tax news in one handy summary. 

New Zealand Tax

  • One night only!  I’m on the panel tonight with Susan, Geoff and Dominic Stephens Westpac’s Chief Economist (in his personal capacity). Should be lively!  See you at 7 – we might even talk about something other than CGT!


  • Here’s my thoughts on SkyCity’s “voluntary” tax payment | Huge tax risks for SkyCity with offshore online gambling venture


  • Andrew Coleman with a counter-argument to the TWG’s argument that capital is under-taxed. Interesting but IMO he doesn’t address the issue of taxing capital gains | The Taxman and Robin rerun show


  • Ouch! $51.5 million of tax plus over $60 million in use of money interest | Eric Watson’s firms face bill of at least $112m after losing High Court tax avoidance battle


  • I would be very surprised if this decision wasn’t appealed and further action could follow if Inland Revenue does go for hefty shortfall penalties | Eric Watson’s Cullen Group could face years of court battles over multimillion tax judgment


  • Here’s me speaking with Kim Savage of Radio New Zealand last night on the case


  • Professor Michael Littlewood talking about the Cullen Group decision with Guyon Espiner on Radio New Zealand this morning


  • As some of you might be aware I am on the Government’s Small Business Council.  If you are a small business owner or manager please take this short Small Business Survey and help shape the NZ small business strategy. Thanks in advance.


  • I agree that the timetable for the proposed GST changes is very tight indeed | Tax experts call for one more tax-free Christmas for internet shoppers


  • This would suggest under a 3% Digital Services Tax Google would be up for about $18 million | How much Google and Facebook made in NZ in 2018


  • This interesting analysis by Keith Ng also serves as an example as to why the TWG didn’t propose a CGT inflation adjustment | How much tax do property investors really pay?


IRD news

  • Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Bill passes third reading. It effectively ends secondary taxation from 1 April & will mean extra 750,000 taxpayers will receive a refund for the 2018-19 year.


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. 

If you’d like to see all of our tweets, feel free to follow us @BCLTax or join our newsletter to receive this weekly in an email.

Terry Baucher Terry Baucher is an Auckland-based tax specialist with 20 years experience. He works almost exclusively with high net worth individuals and owners of medium sized and emerging businesses. Prior to starting his own business, he spent six years with one of the "Big Four' accountancy firms including a period advising Australian businesses how to do business in New Zealand.

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