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Update on Hidden Economy real estate campaign
The Inland Revenue campaign focussing on the real estate sector has resulted in a drop in the amount of private expenses claims being made.
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Former real estate agent sentenced, sector campaign continues
A former Nelson real estate agent has been sentenced to home detention on tax fraud charges after overstating her expenses and under reporting her income.
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Labour hire boss jailed on tax evasion charges
An Auckland labour hire company director has been sentenced to 27 months in prison, with his company, now in liquidation, still owing more than $1.1 million in PAYE, KiwiSaver and student loan deductions.
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Inland Revenue gets the Rainbow Tick
Inland Revenue (IR) has received the Rainbow Tick, recognising IR’s work to make it a safe and welcoming workplace for Rainbow community members.
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Inland Revenue systems re-open after final major upgrade
Inland Revenue’s secure online service myIR has re-opened, along with its phone lines and some offices, after the final stage of Inland Revenue’s multi-million-dollar programme to upgrade and simplify the tax system.
Media releases
Business
More Business newsThe 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.
Inland Revenue is turning its hidden economy focus on to the real estate sector, including both the under reporting of income and the overstating of expenses.
More small businesses will be eligible to take out interest-free loans under changes announced today to a government cashflow scheme.
Transformation
More Transformation newsInland Revenue’s secure online service myIR has re-opened, along with its phone lines and some offices, after the final stage of Inland Revenue’s multi-million-dollar programme to upgrade and simplify the tax system.
The final stage of Inland Revenue’s multi-million-dollar programme to upgrade and simplify the tax system begins later this week.
Taxpayers will have an extra week to file and pay GST and income tax currently due on October 28 this year.
Individuals
More Individuals newsOver 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.
Prison and home detention sentences have been handed down to two men who used horticultural contracting companies to evade over $1.7 million of tax between 2007 and 2017.
Inland Revenue (IR) has received the Rainbow Tick, recognising IR’s work to make it a safe and welcoming workplace for Rainbow community members.
International Tax
More International Tax newsInland Revenue has released its compliance focus on offshore tax transparency, together with guidance to assist tax agents in complying with the international rules.
Prosecutions
More Prosecutions newsAn Auckland labour hire company director has been sentenced to 27 months in prison, with his company, now in liquidation, still owing more than $1.1 million in PAYE, KiwiSaver and student loan deductions.
A former Nelson real estate agent has been sentenced to home detention on tax fraud charges after overstating her expenses and under reporting her income.
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.
