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GST October filing deadline to be extended
Taxpayers will have an extra week to file and pay GST and income tax currently due on October 28 this year.
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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.
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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.
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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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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.
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 news
The final stage of Inland Revenue’s multi-million-dollar programme to upgrade and simplify the tax system begins later this week.
The final stage of Inland Revenue’s multi-million-dollar programme to upgrade and simplify the tax system begins later this week.
The final stage of Inland Revenue’s multi-million-dollar programme to upgrade and simplify the tax system begins later this week.
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 says automatic exchange of information with other tax jurisdictions around the world is proving a potent tool in the fight against tax evasion.
Inland Revenue says new measures to ensure large multinationals pay the right tax in New Zealand are working well and should mean an extra $200m in tax collected each year.
Prosecutions
More Prosecutions newsA 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.
Inland Revenue’s systems are back online early after completing the latest round of Business Transformation work ahead of schedule.
A 25-year-old Auckland man has been sentenced to more than two years in prison for tax fraud involving more than $200,000.
