WK Blog: Tax

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IRD audit and enforcement activity to increase

Posted in Tax

For many years now, the New Zealand Inland Revenue has not been overly active, or at least not visible, in investigations or enforcement.  There have been various reasons for this.  The main reason was that the IRD was undergoing a…

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New Zealand Budget 2024

New Zealand Budget 2024 – a step in the right direction?

Posted in Tax

We were highly critical of the additional spending in Budget 2023 in a time of high inflation and were pessimistic of Treasury’s 2023 forecast that NZ would not enter a recession.   Treasury were, of course, wrong and NZ is…

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Family Boost – tax credit for childcare costs

Family Boost – tax credit for childcare costs

Posted in Tax

Last month, fulfilling an election promise, the Government announced a new credit called FamilyBoost for families paying for early childhood education (ECE).   FamilyBoost replaces the proposed extension to the 20 free ECE hours for under two-year olds announced by the…

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Drought in the Marlborough, Tasman, & Nelson Districts

Posted in Rural

On 14 March 2024, Minister for Agriculture, Todd McClay, declared a medium-scale adverse event for drought in the Marlborough, Tasman and Nelson districts. On Monday 18 March 2024, he fronted a hastily arranged meeting of affected farmers and growers along…

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Some certainty at last around the latest New Zealand tax changes – March 2024

Posted in Tax #tax

As we have mentioned in recent articles, there are some relatively significant tax changes taking effect 1 April 2024 even though the draft legislation had not been released.  Well finally, the detail behind upcoming changes was released yesterday when Amendment…

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Update on New Zealand Tax Bill – March 2024

Posted in Tax #tax

The Finance and Expenditure Select Committee finally reported back on the Taxation (Annual Rates for 2023-24. Multinational Tax, and Remedial Matters) Bill ahead of its final reading in Parliament later this month.  This Bill includes some important changes for large…

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Hurry up and wait – Update on upcoming Tax changes in New Zealand – March 2024

Posted in Tax #tax

There are some important tax changes coming in from 1 April, but frustratingly, we are one month out from most of these changes applying, and the full detail of these changes is not yet in the public arena. Officially, the…

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Tax changes are coming to Post Election New Zealand 2023

Posted in Business

While the election result will not be officially known until 3 November, it is clear from the results that National will be in the position for form a government with ACT and, if required, NZ First.   The tax policies…

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