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December 2019

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Christmas/New Year Hours

This year, our offices will close on Friday 20 December at 2.00pm and will reopen on Monday 13 January 2020.  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.

Who is a Settlor - Trust Update

New Zealand has a “settlor” based trust regime so the definition of settlor is critical to determining tax obligations.  Recent changes to the definition of settlor will impact significantly on the taxation of trusts.

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R&D Tax Credit

New R&D tax credit rules apply from 1 April 2019 with eligible R&D expenditure of $50,000 or more qualifying for a 15% tax credit.


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The Next Wave of AEOI Letters Being Issued

The second wave of information under AEOI initiatives was provided by foreign tax jurisdictions to IRD in September this year and we have already seen a number of letters from IRD asking taxpayers to ensure their tax filing obligations are met.  Should you or your clients make a voluntary disclosure?

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