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!

https://t.co/ae7DkIxNy1

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

https://t.co/jcG2SAcYl1

  • 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

https://t.co/cYUAjHay1w

  • 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

https://t.co/WCTWdeSGic

  • 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

https://t.co/XizxGvP15R

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

https://t.co/sUYhqFWbFi

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

https://t.co/sUYhqFEANK

  • 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.

https://t.co/1G9d6uQvcx

  • 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

https://t.co/Vq3Rot5ZnO

  • 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

https://t.co/mivwk29Byo

  • 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?

https://t.co/oXpiayYUef

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.

https://t.co/KizWTiRxSs

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.

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