On April 3, 2024, the Treasury released a Regulatory Impact Statement on the FamilyBoost tax credit.
On April 5, 2024, Inland Revenue published an information release on the Tax Administration (Reportable Jurisdictions for Application of CRS Standard) Amendment Regulations 2024.
Special Reports on New Measures
Inland Revenue has issued special reports on three new measures in the Taxation (Annual Rates for 2023-24, Multinational Tax, and Remedial Matters) Act 2024: 39% trustee tax rate GST on accommodation and transportation services supplied through online marketplaces Offshore gambling duty
On March 31, 2024, Inland Revenue issued ITR35, outlining exemptions for residents from disclosing interests in foreign entities.
Between April and June 2024, Inland Revenue will launch a campaign targeting construction customers to remind them of their tax obligations and encourage action on outstanding returns and debts.
Inland Revenue issued FDR 2024/01 on April 2, 2024, outlining attributing interest types for which the fair dividend rate method cannot be used.
On April 3, 2024, Inland Revenue issued Determination 24/01, setting amortisation rates for listed horticultural plants.
Inland Revenue announced an extension for late deposits for the income equalisation scheme until June 30, 2024, for farmers and growers affected by drought conditions.
Law changes were implemented for disposal or donation of trading stock to approved donee organizations, as well as for charity deregistration rules.
Inland Revenue published TDS 24/06 and TDS 24/07, addressing issues related to the bright-line test, suppressed cash sales, GST, and evasion shortfall penalties.
Inland Revenue added an FBT page to its tax technical overviews, providing comprehensive information on FBT.
Your Outside Team
Need a bit of assistance with your business? Contact an Outside Accounting team member today and learn more about our fixed fees. You won’t regret it.
Aside from business consultation, we are business accountants Wellington who offer accounting, bookkeeping, payroll services designed to help you achieve greater financial success.
You can click here to speak to a business, accounting and bookkeeping firm. We will give you a call to know more about your needs. We will explain to you how we can improve your business.
Address: Level 2, 182 Vivian Street,
Te Aro, Wellington 6011, New Zealand
Mail: PO Box 24-457, Wellington 6142
Phone: 04 889 2975
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