GenAI – a leap forward
- June 6, 2024
- Posted by: Developer
- Category: SME
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Artificial intelligence (AI) is the new buzzword at the moment, with business leaders touting its importance and the significant impact it will have on the way we conduct business.
The reality is that AI has been around for a while, but in the past few years has taken a great leap in terms of its usefulness and accessibility for the general public.Clarity for Property Investors
- January 11, 2022
- Posted by: Angela
- Category: GST, Loan repayments
In March 2021 the Government announced changes to the bright-line test and interest deductibility for residential properties. Following the release of a discussion document in June, there has still been significant uncertainty regarding the specific details of how the new rules will apply.
GST issues paper
- August 17, 2020
- Posted by: Angela
- Category: GST, Loan repayments
On 24 February, Inland Revenue released an Officials’ Issues Paper seeking feedback on various GST issues.
A long-standing rulethat has proved a source of frustration for those affected applies to transfers of goods between associated persons.GST on loan repayments
- March 23, 2020
- Posted by: wsme_admin
- Category: GST, Loan repayments
The recent High Court decision of Burke v Commissioner of Inland Revenue (2019) is a timely reminder that understanding the legal form of a transaction is important for applying the correct GST treatment.
Changes to donation tax credits
- March 23, 2020
- Posted by: wsme_admin
- Category: Income Tax, Tax Credit
A tax credit is able to be claimed on donations made to organisations and charities that are registered on Inland Revenue’s (IRD) list of Donee Organisations.
Generation Z – our future workforce
- January 6, 2020
- Posted by: wsme_admin
- Category: Business, Employees
The rise of Generation Z (‘Gen Z’) is imminent in today’s workforce. Comprised of those born between mid-1990s and early-2000s, Gen Z has grown up in a world with valuable aspect is they represent an organisation’s future.
Property sales – business premises exclusion
- January 6, 2020
- Posted by: wsme_admin
- Category: Property
The land taxing provisions deem certain sales of land to be subject to income tax, subject to a limited number of exceptions. One such is exception is for ‘business premises’. However, the circumstances in which it applies can be a grey area.
Residential Bright Line
- October 25, 2019
- Posted by: Angela
- Category: Residential Bright Line
The Income Tax Act 2007 has long contained provisions to tax the sale of property (or other assets) acquired with the intention of disposal. However, ‘intention’ is a subjective concept and has been difficult for Inland Revenue to police. Hence, the brightline test, (section CB 6A) was introduced as a means to tax profits made on property purchased and sold within a short space of time. It has been in effect for a few years and it is now worth revisiting how it works.
Saving Time and Cost with Tax
- October 25, 2019
- Posted by: Angela
- Category: Tax
Various tax concessions exist that can save significant time and money, but they are often overlooked. You may want to save this article as a handy reminder to take advantage of these options whenever possible.
Tax Working Group
- June 30, 2019
- Posted by: Angela
- Category: Tax Working Group
The Tax Working Group (TWG) released its long awaited Final Report (‘the Report’) on 21 February 2019, following a 13 month review during which the Group received over 7,000 public submissions. The report contained 99 recommendations for the Government’s consideration; including the introduction of an broad Capital Gains Tax (‘CGT’).
