Online scammers and phishing attacks have become extremely sophisticated lately. Hence, it is understandable that we are constantly warned to be vigilant and on the lookout for the next attack. But as focus shifts to looking outside the organisation, an eye needs to...

There are certain topics that we enjoy being cynical about. The speed at which oil companies increase their price at the pump when the price of crude increases versus the speed at which it drops when the price of crude decreases. Or similarly, how quickly banks...

Earlier this year, Inland Revenue (IRD) released an officials’ issues paper titled “Fringe Benefit Tax – Options for Change”. The paper sought feedback on potential reforms to the FBT regime. The most notable proposals related to the application of FBT to motor...

Over the last six to twelve months Inland Revenue (IRD) has been taking a firmer stance when it comes to collecting overdue tax. This is in the form of increased liquidation action and enforced withdrawals directly from a taxpayer’s bank account. Given the potential...

If you or your friends or neighbours have solar panels on the roof of their home it is likely the excess electricity is being sold back to the retailer for a credit on the bill. It is also likely that not much thought has been given to whether that ‘credit’ is...

In the past year, Inland Revenue has increased its audit activity after a period of subdued activity that stretched from before the Covid-19 pandemic. As their activity has increased, it has been interesting to see what areas they are focusing on. Observation suggests...

A Portfolio Investment Entity (PIE) is a type of investment vehicle that is able to pay tax on behalf of its investors, and depending on the ‘prescribed investor rate’ chosen, the tax liability on the income is able to be capped at 28%. This can be a material benefit...

Over the past few months President Donald Trump’s “One Big Beautiful Bill Act” received quite a bit of attention before it was passed on 4 July 2025 - but why the fuss?The key business facing elements included:•    100% first-year deduction for U.S. spending on...

On 24 February 2025, Inland Revenue released an Officials’ Issues Paper titled Taxation and the not-for-profit sector. The paper sought feedback on several potential areas including the taxation of charity-run businesses, the treatment of donor-controlled charities...

Imagine you are pulled over by a police officer and asked “Were you speeding?”, however, your speedo is broken, so you’re actually not sure. That is how it can feel when Inland Revenue (IRD) notifies you of an audit or investigation. On the one hand you know it is...

On 22 May 2025, as part of the 2025 Budget, the Government introduced a new tax incentive called the ‘Investment Boost’, aimed at encouraging capital investment. It allows an immediate upfront deduction for 20% of the cost of an eligible asset. The new legislation...

With the New Zealand Budget released on 22 May 2025, it is worth looking over the ditch and seeing whether the grass in Australia is greener as a result of their Budget that was released on 25 March 2025. A tax cut was introduced for individuals. The rate applying to...

From the 2021-2022 income years onwards, the Inland Revenue (IRD) introduced increased disclosure requirements for trusts. The increased disclosure requirements were aimed at supporting the Commissioner’s ability to evaluate compliance with tax rules, develop tax...

Most people have heard of “tax pooling”. But it is common for people to say they have heard of it “but, I don’t really get it”. Here is an explanation of tax pooling.For the purposes of provisional tax and tax obligations generally, a fundamental aspect is the...

When the unexpected happens — a fire, flood, or major equipment failure — insurance proceeds can provide some welcome relief. However, from a tax perspective, how that payment is treated isn’t always as simple as it first appears. While many businesses instinctively...

Currently, charities in NZ are broadly exempt from income tax. This is a choice that ‘we’ as a society have made. It is centered on the view that if an organisation is established for a charitable purpose, then ‘we’ should support that organisation and maximise the...