Industry Advice on Finance, Business & Tax for the New Zealand Market

Andersen launched its non-bank lending service in June 2022 to meet an increasing demand for flexible financial solutions. This article discusses the first non-bank lending deal, showcasing how Andersen provided innovative funding when a traditional bank could not meet the client’s requirements.

In line with the recent changes made to the Trust Act (2019) that came into force on 30 January 2021, the Inland Revenue Department has now published their operational statement (22/02) that sets out the reporting requirements for domestic trusts.

As the new financial year begins for many, it’s a key time to review budgets, update cashflow forecasts, and set new targets—ideally aligning these with a refreshed strategic direction for better focus and financial clarity.

The end of the financial year end is fast approaching. 2021 has been a year filled with uncertainties and challenges. In this article we cover off important changes already in force in 2021 as well as some of the recent developments relevant for businesses and personal matters from a tax perspective.

We look at the Government's draft legislative proposals with respect to limiting the deductibility of interest expense for residential property investments and a number of changes to the bright-line rules.

Today the Prime Minister announced a huge package of policies aimed at increasing housing affordability that includes changes to the bright-line test and interest deductions on investment property.

Reading the 194-page interim report from The Tax Working Group (TWG) - a culmination of months of work reviewing submissions - here are our first impressions...

Most people want to pay their fair share of tax, but the complexity of tax continues to evolve where even the simplest of mistakes can cost you dearly in penalties and interest – given the increased funding the Inland Revenue Department will receive you need to ensure you have your tax affairs in order.

Since 2017, Inland Revenue has had a dedicated audit team for Fringe Benefit Tax (FBT). Though FBT is a small part of tax revenue, it’s now a key audit focus, making compliance and accurate tax positions more important than ever.

Effective KPI reporting is built on transparency, accountability, and comprehensive communication. It can help businesses to reduce costs, identify new opportunities, and make better decisions. It provides an opportunity for staff at all levels of a business to reflect on their performance and, if required, take actions that improve the overall performance of the business.

Family. Gifts. Carols, baubles, tinsel on the tree. When it comes to Christmas time, these are the things that most Kiwis are going to be thinking about—but there’s one more thing that business owners need to keep in mind over the Season of Giving: how much they should be giving to their employees in pay over the holidays.

A major rewrite of New Zealand trust law is underway, and your trust could be impacted. IRD is scrutinising trusts with questionable commercial logic but favourable tax outcomes, while proposed law changes aim to give beneficiaries more visibility into trust activities and the income being generated.