Iain Blakeley

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

IRD penalties
IRD wants to hear from employers

IRD wants to hear from employers

IRD wants to know what employers think of their proposals for correcting and adjusting PAYE filings. This recently released officials' paper sets out the background and proposals: http://taxpolicy.ird.govt.nz/publications/2017-ip-paye-error-correction/overview A tax...

It wouldn’t happen in New Zealand – or would it?

An Australian court says a taxpayer has not commenced a subdivision activity until they have the funds needed to purchase the land. The costs spent beforehand on planning permits and market valuations were preliminary or preparatory to starting any business. That's...

Commonsense prevails: well almost

Yesterday the Australian Tax Office issued a practice statement explaining when it would overlook an incorrect GST input claim made by a business. You can read it here On the face of it the practice statement reeks of commonsense. The supplier wrongly applies GST to...

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...

Late payment fees or penalties?

Yesterday's tax bill proposes a new provision saying "a fee charged for the late payment of an account" is treated as subject to GST. It will be back dated to 2003 to prevent the Government being inundated with refund claims. My issue is with the drafting. It applies...

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...

‘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...

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...