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Media Releases

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21 June 2021
Business asset sales rules tightened

The rules for how business assets are valued, when they are sold as a bundle, is being tightened.

These new Purchase Price Allocation (PPA) rules, which come in to force on 1 July, apply to the sale of assets such as commercial property, forestry land or a business.

17 June 2021
Concerns about unexpected tax bills

Over the past few days some people have been concerned about receiving a tax bill they weren’t expecting. We apologise for any instances where our processes have contributed to that concern. The bills are correct based on the information provided to Inland Revenue.

12 May 2021
Jail sentence handed down for $17 million of GST fraud

A Gisborne man has been sentenced to 8-years 6-months in jail after being found guilty on 39 charges of dishonestly claiming and receiving over $17 million of GST refunds.

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