To view this newletter in a pdf format, click here.

New domestic trust disclosure rules have been introduced which apply from the 2022 income year and these are creating a number of issues for preparers of tax returns.  Read more here.

Nothing is ever as it seems with new legislation and the new bright-line rollover relief for residential land is not as concessionary as we anticipated.  Significant changes are already proposed to fill gaps in these rules which we understand are to be included in the August tax Bill.  Find out more here.

The new interest deductibility rules applicable to “disallowed residential property” (“DRP”) are proving challenging to apply in practice.  A key issue is determining what is included in the definition of DRP and what is not.  Click here for more.

Changes to the secondhand goods input tax rules for associated persons transactions came into effect on 30 March 2022.  A retrospective change was also made to the disposal adjustment for assets used partly to make taxable supplies.  Find out here how the playing field has been relevelled.

We can assist with the valuation of businesses and shares to support shareholder transactions, merger and acquisition activities and relationsihp property matters.

Please contact Bruce Watt (brucew@nsatax.co.nz or phone on 09 309 6505).