Over 310 000 New Zealand families could soon experience significant tax reliefs, if new legislations are passed allowing income sharing for the purpose of tax calculation. Couples with children could be given the option of working fewer or more flexible hours, if a new legislation passes through Parliament. On the 16th of August the Taxation (Income-sharing Tax Credit) Bill was tabled in Parliament. The bill proposes that a couple with dependent children be able to choose to be taxed on an equal ... Read More

The legal action between the Inland revenue Department and two Christchurch surgeons is set to continue, after their tax dispute case was accepted to be seen in front of the New Zealand Supreme Court. Ian David Penny and Gary John Hooper’s application to appeal to take their "company structure" tax evasion case to the Supreme Court was approved on August 2nd. The action revolves around alleged tax evasion committed by the medical professionals through a controversial company structure which was claimed, by the ... Read More

New Zealand and the Isle of Man are set to usher in a new level of tax transparency, cooperation and compliance, after two separate tax agreements between the countries came into force. The High Commission in London has confirmed that the Governments of New Zealand and the Isle of Man have appropriately completed their legal ratification processes regarding the Tax Information Exchange Agreement (TIEA) and Double Taxation Agreement (DTA) signed by the countries. With the stipulated one year waiting period over, as outlined ... Read More