New Zealand Lawyers' Tax Companion

Understanding the income tax and GST implications of common legal transactions has never been more important. With lawyers now in the front line for collecting RLWT, a working knowledge of the bright-line test is essential.

Lawyers are also increasingly involved in their client’s tax matters as a result of changes to the information collection and reporting requirements imposed upon them.

Additionally, lawyers’ clients usually expect their advisers to have an understanding of what structure will best serve their current (and future needs), as well as delivering the most value to them over time.

The New Zealand Lawyers’ Tax Companion is the only tax handbook which has been specifically written from a lawyer’s perspective. Organised around legal transactions rather than tax topics, this book is designed to be a practical guide to tax law for the general legal practitioner. Packed with examples, case studies and checklists, it contains straightforward commentary covering the tax aspects of transactions that lawyers commonly advise on.

Topics covered included:

• real estate transactions (including the bright-line test, RLWT obligations and GST changes to the new REINZ-ADLS agreement)
• structuring a business
• buying and selling a business
• compensation and damages payments
• family law
• the Inland Revenue disputes procedure
• family trust transactions
• wills and administration of deceased estates.

Who should read this guide?

Straightforward and well-structured, this guide will be the first-point of reference for lawyers working outside the large law firms. Its coverage of common issues will highlight potential pitfalls to help prevent costly mistakes.