Iain Blakeley

Barrister - Tax Expert - Business Adviser - Director, Professional, Practical, Fast, Affordable

Business sales

GST heat goes on internet sales

Debate is turning into action over taxing internet sales. The Australian Treasurer told media at the Council on Federal Financial Relations Meeting in Canberra on 9 April his Government will require overseas companies selling intangibles into Australia to register and...

12 GST thoughts of Christmas

12 GST thoughts of Christmas: 1. There's no GST on gifts (so Santa is probably not GST registered). 2. GST registered businesses can claim back the GST on gifts they buy for staff, suppliers and customers. 3. If you buy someone a gift voucher for Christmas it's quite...

VAT and online sales

This is a very good item on the wider business implications of proposed changes in Europe to the VAT treatment of online digital media sales. http://performance.ey.com/2014/02/20/vat-change-online-sales-just-tax-concern/ Cheers Iain

Are you ready for the 1st of April 2014?

Change to tax law is as certain as tax itself.The 1st of April is a favourite of governments around the world for ushering in tax changes.Here's a snippet of some changes that are coming into force in GST, VAT and other indirect taxes on 1 April:Albania - Supplies of...

12 GST thoughts of Christmas

12 GST thoughts of Christmas: 1. There's no GST on gifts (so Santa is probably not GST registered). 2. GST registered businesses can claim back the GST on gifts they buy for staff, suppliers and customers. 3. If you buy someone a gift voucher for Christmas it's quite...

Starting a new business?

If you're thinking about starting a new business be careful how much you spend on "preparatory and exploratory" work. An Australian tax court has just concluded that a couple could not claim back GST on "preparatory and exploratory" expenditure because their business...

NZ tax department reveals its compliance focus

Our new tax Commissioner has just released a document outlining her department's key compliance programmes for 2012/13.http://www.ird.govt.nz/resources/6/6/661d18004c5fb8aea1cde57bdeadb8e8/our-compliance-focus-2012.pdf?CACHEID=661d18004c5fb8aea1cde57bdeadb8e8The 32...

Who’s making submissions?

I'm interested in hearing from anyone who is considering making a submission in response to the latest discussion document from Inland Revenue on GST. They are looking for feedback on the suggestion of loosening the rules for overseas businesses wanting to recover GST...

Penny and Hooper decision carries GST lessons.

The Supreme Court ruled yesterday that orthopaedic surgeons Ian Penny and Gary Hooper avoided tax when they diverted income from their practices to lower tax rate entities such as companies and trusts. A significant issue was the below market salaries they paid...

Capital gains tax

I know it's wishful thinking to expect real analysis in political debates but, honestly, whether it's time to introduce a capital gains tax in New Zealand is an issue which deserves more than the usual ping pong game of political rhetoric. The refrain of the most...

Warning for small operators

A recent Australian court case serves as a warning for very small businesses. The NZ rules are similar. The taxpayer bought a former fauna park intending to convert it to educational and accommodation use. However the taxpayer didn't get around to kick starting their...

‘Look everyone…… no hands!’

Ever heard anyone yell that out moments before their bike hits a bump in the road, gets a serious case of speed wobbles and finally careers into a solid object? A recent case from the Taxation Review Authority reminded me how a seemingly innocent transaction can end...