Iain Blakeley

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bodies corporate

Bodies corporate GST status to be clarified

Legislation introduced yesterday will clarify the GST status of bodies corporate. Here's the press release: http://taxpolicy.ird.govt.nz/news/2015-02-26-bill-clarifies-gst-bodies-corporate-rules This issue has some history. In the past Inland Revenue took the view...

Surprise in body corporate treatment?

A Product Ruling (BR Prd 14/08) published by IRD on 28 July is fascinating as much for what it doesn't say as the conclusions reached. Facts briefly: - Unit title building in Christchurch. - Mostly commercial property. - Destroyed in earthquake. - Body corporate...

Bodies corporate and GST

Last week the Revenue Minister issued another Discussion Document on the GST treatment of bodies corporate. The IRD seems to have come full circle on this one. See here: Bodies corporate and GST. It is proposed our GST legislation will exempt a body corporate under...

GST Registration of Bodies Corporate

Yesterday the IRD published an update on where they are at with deciding whether bodies corporate can or must register for GST.In their May 2013 Issues Paper IRD suggested bodies corporate can register for GST and must register if the levies they charge owners exceed...