Author: chasgunaratne

Tax Changes Update

The Government’s release of draft legislation this week was disappointing on a number of fronts. First, what was expected to be complex legislation has been successfully made nearly indecipherable. Second, it is of course disappointing that they are pressing ahead with the rules being effective from 1 October despite only this draft version being available […]

What can I claim as a tax deductible when I am in business?

Apart from a few special rules, any cost necessary to run your business will probably be tax deductible.  However, there are a few things to be aware of – some items that you might assume could be claimed can’t be, and conversely, there may be others you didn’t realise are legitimate expenses. General If you […]

Interest Deductibility — NZ Government — Update

On 10 June 2021, the Labour Government opened up a five-week consultation period on the new interest deductibility rules. They have released a Design of the interest limitation rule and additional bright-line rules discussion document which is lengthy and quite detailed, and reveals some interesting thinking, some of which I think is surprisingly taxpayer friendly. On first look […]

New Tax Changes

I’m seething about these tax changes and it’s not just the fact that Labour lied to us; it’s the whole bigger picture and the implications for ordinary New Zealanders.  This Government is attacking middle New Zealand with all these housing initiatives and tax reforms – it’s mums and dads being hit, not property oligarchs. According […]