New Tax Rules for Employee Share Schemes

New tax rules have been introduced under the Taxation (Annual Rates for 2017 – 18, Employment and Investment Income, and Remedial Matters) Bill (Bill), which proposes changes to the tax treatment of benefits offered under employee share schemes. Currently, under the Income Tax Act 2007, employee share schemes are intended to be taxed under a [...]

August 4th, 2017|Categories: Legal Developments|Tags: , |

New commercial obligations on the horizon

Against the backdrop of the Ministry of Foreign Affairs and Trade’s new Trade Agenda 2030, which is focussed on continuing to improve opportunities in export markets, NZ will soon effect changes to its commercial legislation. The OECD’s Automatic Exchange of Financial Account in Tax Matters (AEOI) creates an international standard with the aim of reducing [...]

May 5th, 2017|Categories: Legal Developments|Tags: , |

Tax Update – “Permanent Place of Abode”

The Court of Appeal recently dismissed an appeal brought by the Commissioner of Inland Revenue (CIR) in CIR v Diamond [2015] NZCA 613.  At the heart of the case was the issue of the meaning of “Permanent Place of Abode” (PPOA).  Section YD 1 of the Income Tax Act 2007 states that a person is [...]