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December 2018

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Christmas/New Year Hours

This year, our offices will close on Friday 21 December at 2pm and will reopen on Monday 14 January 2019.  Not everyone is back then, but we should be close to having our full complement of staff back the following week.

We trust your year has been as good as ours - we are all looking forward to a well-earned rest over the Christmas/New Year break.  Thank you for your continued support and we look forward to doing it all again next year.

From the Team at nsaTax, Merry Christmas and Happy New Year!  Enjoy your break, and safe travels.

New Threshold for Amending Assessments

Currently, if an error in a return was caused by a clear mistake, simple oversight or mistaken understanding, and the resultant total discrepancy in the assessment is $1,000 or less...

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Dividend Stripping

Many of you will be aware of the IRD’s Revenue Alert issued in March this year in relation to dividend stripping.  The dividend stripping rules in section GB 1 of the Income Tax Act 2007 must be considered...

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Capital Gains Tax

We await with great anticipation the Tax Working Group’s Final Report on the Future of Tax in NZ which will inevitably recommend a broad based, realised capital gains tax regime...

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Disclaimer
This newsletter is not intended to provide an exhaustive or comprehensive statement of tax law and it should not be relied on or used as the basis for any decision or legal action.  Detailed professional advice should always be sought in order to verify the applicability of the relevant legislation to the specific case.