New Zealand Master Tax Guide 2017

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 2016/17 and future tax years. The commentary is concise and easy to read.

Legislative changes and proposed changes in 2016 that are covered include:

• new rules allowing companies to “cash out” their tax losses from R&D expenditure
• a new residential land withholding tax on sales of residential property by offshore persons within two years of acquisition
• changes to apply GST to remote services supplied by non-resident suppliers
• simplifying the tax administration system as part of Inland Revenue’s Business Transformation
• changes to the look-through companies rules to simplify the rules and reduce compliance costs
• changes to the provisional tax rules to increase certainty and provide for the more accurate and timely payment of provisional tax, and
• changes to the disclosure requirements for foreign trusts with New Zealand resident trustees.

The new edition also covers:

• all public rulings, interpretation statements, QWBAs and standard practice statements released by the Commissioner in 2016
• all issues papers and discussion documents released by the government in 2016
• new developments in case law from reported 2016 judgments.