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.
