Business owners need to pay attention Inland Revenue has released an officials’ issues paper proposing a significant change to how shareholder loans are taxed. If… Read More »Inland Revenue Proposes Major Change to Shareholder Loans
The bright-line test taxes profit made on the sale of residential property when it is sold within a certain period of time (bright-line period) and… Read More »The Bright-line Property Test 2025
myIR security update from IRD: two-step verification (2SV) in myIR is becoming compulsory. From 29 January 2025 you may get a call from IRD to… Read More »myIR security update from IRD
In Budget 2024, the government allocated $116 million to Inland Revenue to collect tax debt and to ensure Inland Revenue was better equipped to catch… Read More »Government provides $116 million to Inland Revenue to tackle tax evasion
The taxpayer had previously been a New Zealand resident that had moved offshore for more than 10 years and was now looking to return to… Read More »Taxing crypto and the transitional tax residency rules
It is very common to receive crypto income and not declare it to Inland Revenue because people do not know that some of the ways… Read More »Taxing Crypto 101
The growing scrutiny on cryptoassets by the Inland Revenue Department in New Zealand is concerning many traders who potentially have not filed their income tax… Read More »How to Navigate Your Cryptoasset Activities With The IRD (Inland Revenue Department)
At Crawford Nelson we get questions from clients as per the following “IRD have sent papers, what should I do”? “IRD have sent prosecution documents,… Read More »FAQ on Tax Prosecutions
It’s not uncommon for New Zealanders to have a foreign bank account or pension, a property, some shares or other investments held offshore. Mostly these… Read More »Taxing offshore income: IRD foreign tax obligations
When a person purposefully undertakes these types of transactions, it is tax evasion. If identified by Inland Revenue, not only will the person have to… Read More »Tax evasion and Inland Revenue