The New Zealand Master Tax Guide for Students is the essential reference for successful tax study. It contains comprehensive coverage of New Zealand tax regimes, including income tax, FBT, ACC and GST, completely updated to 1 January 2014.
Recent legislative changes covered include:
- new expenditure apportionment rules for certain mixed-use assets
- new calculation method for some foreign currency hedges
- changes to livestock valuations
- changes to the time periods for claiming refunds
- clarification of the definition of “dividend” for certain rights issues, premiums paid under bookbuild arrangements and share splits
- changes to the taxation of lease inducement and lease surrender payments
- changes to the tax treatment of salary trade-offs
- GST changes, including amending the rules governing when a non-resident business can register for GST and claim input tax deductions, inserting a new zero-rating rule for tooling costs and changing the invoice requirements for supplies by agents.
The commentary, written by tax experts, is concise and easy to read. The book is packed full of practical features, including worked examples based on real-life situations, due dates, and summaries of legislation, cases and IRD rulings and statements affecting the 2013/2014 and future income years.