Tax Update: Key Legislative and Compliance Changes

New Zealand’s leading three-hour Tax Update returns. This practical course takes you through the latest changes in tax law and practice — knowledge you’ll be able to apply when preparing income tax and GST returns.

Find out about the changes that have occurred relevant to SMEs and accountancy practices of SME businesses.

The course will cover:

• Legislative Changes
• Policy Releases – A review of IRD statements issued

Some of the specific topics to be covered are:

• Tax issues resulting from the change to the trust tax rate
• Taxation of backdated lump sum payments
• Charities changes
• Clarifying the meaning of “building” for depreciation purposes
• Brightline test - Main home exclusion: construction period
• Deductibility of land holding costs
• GST – Court awards and out-of-court settlements
• Tax & GST treatment of grants & subsidies received
• Interest limitation rules and short-stay accommodation
• How the bright-line test applies to certain family and close relationship transactions
• Deductibility of software as a service (SaaS) configuration and customisation costs
• IRD's approach to settling disputes prior to a formal challenge.
• Directors and board members providing their services through a personal services company
• GST – goods purchased on deferred payment terms
• IRD scenarios on tax avoidance

Please note the course will include two short intervals.

Suitable for: Intermediate to senior accountants in public practice and any accountants working for privately owned companies.