SEP 30Annual cycle for Reporting NZFIs submitting their CRS information to us for the previous reporting period ended 31 March, extended due to COVID-19.
SEP 30Annual cycle for Reporting NZFIs submitting their FATCA information to us for the previous reporting period ended 31 March, extended due to COVID-19.
SEP 30Annual final date for us to send FATCA information to the IRS for the period ended 31 March.
Share-based remuneration (including stock options) may on occasion be taken into account in the calculations underlying various service charges. We expect taxpayers to have kept the key underlying legal documentation and the detailed calculations confirming such expenditure. The facts and circumstances of these charges vary considerably, but will be closely examined if material.
There may also be considerable subjectivity in the calculation of share option costs (the Black-Scholes model, for example, relies on several major assumptions to arrive at a fair value). In the final analysis, we will check whether the overall charge is consistent with what an external party would pay for the service provided in the New Zealand market place. In particular, we do not accept notional sums being charged.
For larger New Zealand-based multinationals, consideration will be given regarding the charging of costs to offshore associates with staff that benefit from employee share/option schemes.