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Tax Talk Newsletter Autumn 2018
Get organised for annual accounts - The 31st of March is rapidly approaching. Now is a good time to think about getting organised for your annual accounts to minimise hassles. The following comments are based on a 31 March balance date. If yours is different, please adjust accordingly. If you have bad debts, write them off before you get to 31 March or ...
Tax Talk Newsletter Dec 17/Jan 18
Smile: it's good for business - What do Jacinda Ardern, Winston Peters, and Bill English (and John Key before him) have in common? When they see a camera, they almost always smile. Smiling is most important when selling. And like all good sales people, politicians are constantly promoting their product. Here's an example of a winning smile. Jane’s father was dropping her off at ...
Tax Talk Newsletter Oct / Nov 2017
Set out to succeed - According to international business information service Bloomberg, eight out of 10 new businesses fail in the first 18 months. If you want to be one of the two out of 10 who succeed, there's plenty of useful advice from experts. A web search will throw out lots of tips, but some consistent messages come through. One of the ...
Tax Talk Newsletter Aug / Sep 2017
Residential care: income derived from gifted assets not to be taken into consideration for income assessment purposes - In Broadbent v The Chief Executive of the Ministry of Social Development [2017] NZHC 1499 (essentially a test case), the key issue was how any gifting that falls within the gifting threshold of $27,000 pa permitted under the relevant social security legislation is ...
Tax Talk Newsletter Jun / Jul 17
Sharing information to combat global tax evasion - The Government has signed up to the global automatic exchange of information (AEOI) initiative led by the OECD. We're one of 100 countries that will automatically share some financial account information about foreign tax residents. All countries will use the Common Reporting Standard (CRS) to identify and report on financial accounts held or ...