New Zealand master tax guide : 2020 / by CCH New Zealand
By: CCH New Zealand.Publisher: Auckland, N.Z. : CCH New Zealand, 2020Description: 2195 p. ; 1 electronic resource.ISBN: 9781775473565.Subject(s): Taxation | Tax administration | Income tax | Tax legislation | Tax cases | GST | New ZealandOnline resources: Download as an eBook
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HIGHLIGHTS. LOOKING AHEAD. TAX SYSTEM: Legislative framework -- Interpretation of tax legislation -- Persons liable for income tax -- Meaning of income -- Deductions -- Annual losses -- Calculation of tax -- Other taxes -- Record-keeping -- Inland revenue. TAX RETURNS: Assessment and collection of income tax -- Calculation of tax -- Payment of tax -- Recovery of tax. EMPLOYERS' RESPONSIBILITIES: Employers' responsibilities generally -- Particular classes of earning and earners -- Independent contractor or employee -- Employee allowances -- Other employee payments -- PAYE intermediaries. ASSESSMENTS AND DISPUTES RESOLUTION: Assessments -- Disputes resolution procedure -- Notices of proposed adjustment and response -- Conference stage -- Disclosure -- Adjudication -- Challenge -- Appealing a decision. INCOME: General concepts -- Derivation of income -- Recognition of income -- Source and residence -- Income -- Exempt income -- Excluded income. FINANCIAL ARRANGEMENTS: Application of financial arrangements rules -- Spreading methods -- Base price adjustment -- Avoidance provisions -- Determinations -- Finance leases -- Hire purchase agreements. LAND TRANSACTIONS: Taxation of disposals of land -- Exclusions -- Tax accounting -- Related topics. STUDENT LOANS: Trading stock definitions -- Valuation of trading stock -- Transfers of trading stock. DEDUCTIONS: General principles -- Specific outgoings. TAX CREDITS. CHILD SUPPORT AND FAMILY SCHEME: Child support -- Family scheme. DEPRECIATION: General concepts -- Calculation of depreciation loss -- Depreciation recovery income -- Specific assets and events -- Records. PENALTIES: Civil penalties -- Interest -- Criminal penalties and offences. RESIDENT WITHHOLDING TAX: Resident withholding tax -- Deduction of resident withholding tax -- RWT exemption certificate -- Payment of resident withholding tax -- Payers' obligations: reconciliation and disclosure -- Record-keeping and offences. COMPANIES: General concepts -- Shareholder interests -- Associated persons -- Dividends -- Dividend calculation rules -- Dividend exclusions -- Intercompany dividends -- Liquidation -- Tax recovery. IMPUTATION: Imputation credit account -- Trans-Tasman imputation. COMPANY TAX LOSSES: Loss carry-forward and offset -- Continuity of shareholding -- Mining losses -- Grouping tax losses. QUALIFYING COMPANIES & LOOK-THROUGH COMPANIES: Qualifying companies -- Look-through companies. CONSOLIDATED COMPANIES & AMALGAMATION OF COMPANIES: Consolidated companies -- Amalgamation of companies. FRINGE BENEFIT TAX: Fringe benefit tax generally -- Calculating and paying FBT -- Fringe benefit tax and motor vehicles -- Loans to employees -- Other employment -related benefits subject to FBT -- Exemptions from FBT. PROVISIONAL TAX: Due date for payment of provisional tax -- Calculation of provisional tax payable -- Use of money interest. PARTNERSHIPS: Limited partnerships -- Taxation of general and limited partnerships -- Taxation of limited partnerships -- General taxation principles for partnerships -- Assignment of interest -- Partnerships and imputation regime -- Livestock valuations. SPECIAL COMPANIES AND ASSOCIATIONS: Special companies -- Clubs, societies and associations -- Statutory producer boards and co-operatives -- Unit trusts -- Charities -- Maori Land Act 1993 (Te Ture Whenua Maoria Act 1993) -- Maori authorities -- Crown research institutes. TRUSTS: Trustee income -- Beneficiary income -- Settlors -- Trust classification -- Trust administration -- Trading trusts -- Death and deceased estates -- Variation, resettlement and winding up of trusts -- Trustee liability. INTERNATIONAL TAX: Taxing offshore income and investments -- Taxing non-residents in New Zealand -- Other international tax regimes. FARMING, FISHING AND AQUACULTURE: Farming -- Income equalisation schemes -- Development expenditure -- Livestock -- Livestock valuation -- Horse breeding (bloodstock) -- Aquaculture and fishing -- Horticulture -- Beekeeping. FORESTRY AND MINING: Forestry -- Mining -- Petroleum mining. SAVINGS INVESTMENT, KIWISAVER AND SUPERANNUATION: Portfolio investment entity (PIE) regime -- KiwiSaver -- Retirement savings schemes -- Superannuation schemes. DUTY: Gift duty -- Cheque duty -- Approved issuer levy -- Gaming duty. ACCIDENT COMPENSATION: Accident compensation levies -- Health and safety levy. GOODS AND SERVICES TAX: General -- Zero-rated supplies for GST -- GST exempt supplies -- Special cases -- Accounting for GST -- Taxable periods -- Taxpayer's obligations -- Business-to-business supplies of financial services -- Imported services -- Goods and services tax on land transactions. TAX AVOIDANCE: Tax avoidance contrasted with evasion and sham -- Systematic application of the general anti-avoidance provision -- Specific anti-avoidance provisions and non-market transactions -- Attribution of personal services income. DATES - RATES: Tax calendar -- Parliamentary sitting dates -- Basic rates of tax for individuals -- Working for families tax credits -- Credits -- Companies and investment entities -- Trustees -- Maori authorities -- Goods and services tax -- Non-resident withholding tax -- Resident withholding tax -- Employer's superannuation contribution -- Tax rates for schedular payments -- Tax rates for attributed fringe benefits -- Fringe benefit tax prescribed rate of interest -- Use of money interest rates -- Motor vehicle kilometre rates -- PIE tax rates -- Table of active public binding rulings -- Depreciation rates -- Schedule of economic depreciation rates -- Industry categories from 2005/06 income year -- Asset categories from 2005/06 income year -- Industry categories rates prior to 2005/06 income year -- Asset categories rates prior to 2005/06 income year -- Depreciation rates: alphabetical listing of assets -- Expenditure on land improvements -- Amortisation rates for listed horticultural plants -- Amortisation rates for landfill cell construction expenditure.
Designed primarily for use in the preparation of income tax returns, this book provides practical and succinct coverage of all tax issues for the current year.