Iain Blakeley

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

GST
Easy fix costs Rugby League Club

Easy fix costs Rugby League Club

Keeping up with your tax obligations can sometimes seem a drag: forms to be filled in, changes to keep abreast of and an incessant focus on the detail. Mistakes can be costly. A few dollars here and there might be overlooked but get it much more wrong and you can be...

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...

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:...

NZ GST legislation inadequate

The NZ GST Act inadequately deals with online supplies of services and should be fixed immediately.I'm referring to how the Act treats those selling products online such as e-books, movies, professional advice, teaching materials, photographs and lots of...

Grant versus fee!

The Woking Museum and Arts and Crafts Centre is a charity set up to "advance the education of the public in local national and international history and arts and crafts". In 2003 it entered into an agreement with the Woking Borough Council [In the UK] to "provide...

Buying and selling houses

If you're buying and selling houses on a regular basis be careful of GST. The Tax Review Authority recently backdated GST registration for a couple's family trust to 1999 because they traded 11 residential properties in 12 years. The case is reported at: Case 5/2013...

Online sales

Data just out says New Zealanders spent $1b on online sales in the last year. If that had been spent in New Zealand an additional $150m of GST might have been collected by the Government. There is yet more evidence the extent of international online retail therapy is...

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...

GST on prohibited imports

The Customs Appeal Authority recently decided duty is payable on goods confiscated by Customs as "prohibited imports". An importer tried to bring some cartons of beer and whisky into New Zealand. Unfortunately the labels didn't comply with NZ regulations and the...

Importing costs

NZ Customs have a feature on their website called "What's my duty?". It's a great tool for calculating how much GST and other charges you might be up for when you buy stuff on line. Here it is: http://www.whatsmyduty.org.nz/ The calculator isn't intended to be a final...

GST and vendor financing

A follow on from my re-blogged post below on vendor financing and the GST impact.The Australian Tax Office has issued a "Decision Impact Statement" on the Mathiesen case confirming it is consistent with earlier rulings they gave. The key points are:1. For GST purposes...