New Zealand Master Tax Guide 2016

The Master Tax Guide, New Zealand’s most popular tax handbook, contains practical examples and concise summaries of legislation, cases and IRD rulings and statements affecting the 2015/16 and future tax years. Updated to 1 January 2016, the commentary is concise and easy to read.

Recent legislative changes and proposed changes covered include:

• new rules requiring tax information to be supplied on the sale and purchase of land
• the bright-line test requiring tax to be paid on gains from land bought and sold within two years
• new rules allowing companies to “cash out” their tax losses from research and development (R&D) expenditure
• tax deductions for certain “black hole” business expenditure
• clarification of the law on bodies corporate and registration for GST
• simplification of the administration of the child support scheme
• changes to address child support debt
• remedial amendments to the CFC and FIF rules
• changes to the tax pooling rules to allow a withdrawal to pay interest
• remedial changes to the foreign superannuation rules
• clarification of the formula for valuing accommodation in certain situations
• reducing the number of individuals required to file income tax returns
• improvements for families receiving Working for Families tax credits
• clarification of the rules for apportioning expenditure on mixed-use assets
• removal of the KiwiSaver kick-start payment
• changes to allow withdrawal of a KiwiSaver member’s member tax credits when purchasing their first home, and
• changes to simplify the tax administration system as part of Inland Revenue’s Business Transformation.

The new edition also covers:

• the updated national standard costs and national average market values for specified livestock
• all public rulings, interpretation statements, questions we’ve been asked and standard practice statements released by the Commissioner in 2015
• all issues papers and discussion documents released by the government in 2015
• new developments in case law from reported 2015 judgments.

As well as the comprehensive guidebook, you also receive:

• a free copy of New Zealand Depreciation Rates
• a free eBook version of the New Zealand Master Tax Guide