tax-deductible tagged posts

Failed Software Projects To Be Tax Deductible

June 22, 2011 New Zealand Taxation

Tax deductionsThe New Zealand government has announced a change to the national tax system, aimed at encouraging local companies to engage in innovative software development projects.

To the appreciation and approval of the New Zealand software development industry, the New Zealand Revenue Minister Peter Dunne has confirmed in a press conference held in Wellington on June 20th that the Inland Revenue Department’s (IRD) decision to allow deductions for failed software development projects.

In April this year the IRD issued a notice, reversing a decision made in 1993 which allowed for a deduction to be made on a failed software development project. The IRD claimed that expenses towards the development of software were a contributor to an eventual software asset...

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New Tax on Staple Stock

August 29, 2008 New Zealand Taxation  No comments

Legislation on staple stock has changed, making certain instruments be regarded as equity for the purpose of tax evaluation. According to statements issued by Finance Minister Michael Cullen and Revenue Minister Peter Dunne, the changes are aimed at preventing revenue losses arising from debt issued along side to shares in a staple stock system.

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