• Service: Tax
  • Industry: Agribusiness, Food, Drink & Consumer Products, Retail
  • Type: Business and industry issue, Regulatory update
  • Date: 2/05/2013


A tax brief highlighting current taxation issues for consumer markets businesses.

Taxpoints: Issue 8 

Since our last edition, there has been significant legislative reform of the transfer pricing regime, and the reputational risk associated with tax has been highlighted in a number of high-profile examples. In this edition of Taxpoints, we touch upon these issues, as well as income tax and GST issues which should be considered in an online context, recent changes to salary packaging concessions and potential cashflow saving opportunities which may arise from varying PAYG instalment rates.
Taxpoints: Issue 8 cover
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In this issue

  • Transfer Pricing – Taxpayers should be aware of how the changes to the transfer pricing regime will affect them.
  • Variation of PAYG rates – Varying your PAYG instalment rate may result in quarterly cash flow savings.
  • Corporate Tax Reform – The recent BTWG final report was unable to ultimately recommend any options to fund a reduction in the corporate tax rate, however, watch this space.
  • GST – Recent changes to the GST law are likely to make it increasingly difficult for business to obtain refunds.
  • Salary Packaging – Tightening of the FBT rules around salary packaging of ‘in-house’ goods mean it is critical that employers review their existing salary packaging policies.
  • Tax Governance – With tax becoming a reputational issue, establishing a robust tax governance framework will ensure risks are identified and managed effectively.
  • Online Retailing – Globally, there has been an increased tax authority on the income tax and GST consequences of online retailing. We discuss some of the issues.
  • Making the leap into New Zealand – Issues which taxpayers venturing trans-Tasman for the first time should be aware of.
  • Tricks and traps – Income Tax Return TOFA disclosures and black hole expenditure.

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Our Tax Team assists with corporate tax, transfer pricing, indirect tax, international executive services, R&D incentives, superannuation and more.