These new tax rules apply now to taxpayers who hold interests of 10% or more in foreign investment funds (FIFs).

Many people often don't know how complicated inheritance laws can be, to deal with these overseas assets after you die.

The Government will shortly be finalising a number of changes to KiwiSaver. KiwiSaver has now been operating in New Zealand for over 12 years and is becoming an increasingly ...

The NZ Government announced proposed changes to residential properties, first home grants and property investments.

Overseas businesses must be aware of and update their systems to comply with new GST legislation in New Zealand.

Inland Revenue has released proposals to extend the scope of the thin cap regime and to restrict existing safe harbours.

NZ Inland Revenue recently released an Issues Paper, proposing to broaden the thin capitalisation regime in New Zealand.

What happens when an employee claims that they had no idea that their actions amounted to misconduct?

A GST return must be filed by the 28th of the month following the end of the taxable period.

From 1 April 2011, the GST rules for "land" have changed. Contracts for the sale of land need to be amended to deal with these changes. What began as a move to crack down on "phoenix" frauds has resulted in GST being effectively turned off for supplies between registered persons involving land. But this comes with significant compliance requirements. This Brief Counsel explains what you need to know before entering into agreements under the new rules.

The current New Zealand PVR Act is over 30 years old, and is being reviewed with a view to bringing it more in line with the corresponding Acts of many of New Zealand's trading partners.

If an owner sells within five years, and the property is not their main home, then they will be taxed on any profits.

The KiwiSaver changes in the Budget will make the scheme more sustainable and – from 1 April 2013 – will leave employed KiwiSavers only modestly worse off in terms of their overall savings incentives. KiwiSaver will also have a stronger workplace focus.

In June, the government published a discussion document proposing important reforms to the taxation of partnerships and the codification of some existing practices. The proposals have been released in anticipation of the introduction of a limited partnership regime. Rather than devising new laws which will apply exclusively to limited partnerships, the government has taken the initiative to clarify and modernise the tax treatment of partnerships generally.

The Savings Working Group (SWG) report, released yesterday, makes grim reading. New Zealand’s net foreign debt, at 85% of GDP, puts us in the same company as Greece and Ireland. Over half of this debt seems to have been used to bid up the price of residential houses and farms.

Parties to transactions which include a transfer of land or an interest in land will have to complete a "tax statement".

The IRD issued a statement proposing to tax lease inducement payments and other payments relating to interests in land.

The Limited Partnerships Bill was recently introduced into Parliament and has now been referred to the Commerce Committee. Public submissions close on 5 October.

Is expenditure incurred in assessing the feasibility of a possible capital project or capital investment deductible?

The government is seeking input on its proposed 12.5% tax credit for new research and development.