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Snippets: A good PIE
A Portfolio Investment Entity (PIE) is a type of investment vehicle that is able to pay tax on behalf of its investors, and depending on the ‘prescribed investor rate’ chosen, the tax liability on the income is able to be capped at 28%. This can be a material benefit to investing in a PIE –
Snippets: The Big and the Beautiful
Over the past few months President Donald Trump’s “One Big Beautiful Bill Act” received quite a bit of attention before it was passed on 4 July 2025 – but why the fuss. The key business facing elements included: 100% first-year deduction for U.S. spending on factories, data-centre hardware and other “qualified production property,” plus a
Financial Conduct Report 1st Edition
The Financial Markets Authority (FMA) has issued its first Financial Conduct Report (FCR). The purpose of the report is to be transparent about the conduct that it sees and the regulatory priorities it will focus on over the coming year. Regardless of size, businesses don’t operate in a vacuum and are increasingly being impacted by
Investment Boost
On 22 May 2025, as part of the 2025 Budget, the Government introduced a new tax incentive called the ‘Investment Boost’, aimed at encouraging capital investment. It allows an immediate upfront deduction for 20% of the cost of an eligible asset. The new legislation applies from 22 May 2025. The Investment Boost applies to a
Inland Revenue Scrutiny
Imagine you are pulled over by a police officer and asked “were you speeding?”, however, your speedo is broken, so you’re actually not sure. That is how it can feel when Inland Revenue (IRD) notifies you of an audit or investigation. On the one hand you know it is ‘part and parcel’ of doing business,
Feedback from charitable sector
On 24 February 2025, Inland Revenue released an Officials’ Issues Paper titled Taxation and the not-for-profit sector. The paper sought feedback on several potential areas including the taxation of charity-run businesses, the treatment of donor-controlled charities and long-standing exemptions that may no longer be fit for purpose. It marked the beginning of what could have
From my desk: August – October 2025
Greetings, We welcome Spring with the longer days and slightly warmer temperatures. In the office we are currently focused on processing annual accounts for clients as quickly and efficiently as possible. We have seen some increased tax for many clients as a result of falling interest rates and rising dairy prices. Recently we have seen
Snippets: Australian budget
With the New Zealand Budget set to be released on 22 May 2025, it is worth looking over the ditch and seeing whether the grass in Australia is greener as a result of their Budget that was released on 25 March 2025. A tax cut was introduced for individuals. The rate applying to income between
Snippets: IRD reassessments without notice
On the 29th March 2025, the Taxation (Annual Rates for 2024−25, Emergency Response, and Remedial Measures) Act received Royal assent. Of note is that the Act includes an amendment to section 89C of the Tax Administration Act 1994 relating to Inland Revenue’s (IRD) ability to amend an assessment without completing the formal disputes process. The
Trust disclose review
From the 2021-2022 income years onwards, the Inland Revenue (IRD) introduced increased disclosure requirements for trusts. The increased disclosure requirements were aimed at supporting the Commissioner’s ability to evaluate compliance with tax rules, develop tax policy, and assist with understanding and monitoring the use of trust structures and entities. In effect, it appeared as though
Tax pooling
Most people have heard of “tax pooling”, but it is common for people to say they have heard of it “but, I don’t really get it”. Here is an explanation of tax pooling. For the purposes of provisional tax and tax obligations generally, a fundamental aspect is the “effective date” of a tax credit. This
Navigating insurance proceeds and tax
When the unexpected happens — a fire, flood, or major equipment failure — insurance proceeds can provide some welcome relief. However, from a tax perspective, how that payment is treated isn’t always as simple as it first appears. While many businesses instinctively classify insurance proceeds as taxable income, this is not always necessary. Applying the