Iain Blakeley

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

Christchurch earthquake

12 GST thoughts of Christmas

12 GST thoughts of Christmas: 1. There's no GSTĀ on gifts (so Santa is probably not GST registered). 2. GSTĀ 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...

IRD comments on short term Christchurch rentals

Inland Revenue's latest Business Tax Update reminds us people renting out houses in Christchurch short-term have to pay income tax on the rent, less deductions. It's a pity they don't mention GST because that's more interesting. The update is here:...

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...

Insurance claims

A lot of issues are appearing with insurance claims and leaky homes settlements. A recent bulletin from the Australian Tax Office is a good example of why it's important to get it right. The ATO's bulletin deals with a situation where a home owner makes an insurance...

Refunds

A lot of refunds are changing hands at the moment. All sorts of arrangements are being cancelled because of mother nature and today we read Contact and Telecom have discovered billing errors which will require refunds being paid to customers. A word of caution: if you...

Tax free shopping zone for Christchurch?

A tax free zone in Christchurch has been suggested by a new business owners' group there. I think it is a well intentioned idea which poses some reasonably big challenges in practice. The intention is to encourage businesses (and shoppers)to return to the CBD during...

Australian generosity

The Australian Government is to pass legislation providing for donations made to the Christchurch earthquake relief fund to be tax deductible in Australia for two years. Fantastic! See here

Earthquake support subsidies

An important new GST Order came into force on 1 March. Support subsidy payments made by the Crown up until 30 June 2011 and relating to the 22 February earthquake in Christchurch will not be subject to GST. Good news for businesses receiving the payments and...

The important GST policy issues…

IRD Policy have just released their updated work programme for 2010 / 2011. I understand they will consider submissions from anyone who feels there are other more pressing tax policy considerations. Here's what they have in the policy pipeline for GST: - June 2011: a...

IRD leniency

The IRD is to be commended for quickly responding to the tragic events in Christchurch and reassuring residents there they will not be faced with penalties if they are unable to keep up with their tax obligations as a result of the earthquake. This will be welcome by...