Global

Details

  • Service: Tax, International Corporate Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 12/12/2012

New Zealand - Proposed lease taxation, fringe benefits rule changes 

December 12: The New Zealand government introduced draft legislation with changes for the “September Taxation Bill” concerning the taxation of lease inducement and lease surrender payments, and the salary trade-off benefits under the fringe benefit tax (FBT) rules.

The government proposes new tax treatment for:


  • Lease inducement payments
  • Payments made by a tenant to surrender a lease (“surrender payments”)
  • Salary trade-offs under the FBT rules

The new provisions concerning lease inducements and surrender payments generally would be effective beginning 1 April 2013 (with some exceptions), and those concerning salary trade-offs under the FBT rules would be effective beginning 1 April 2014.


Read a December 2012 report [PDF 82 KB] prepared by the KPMG member firm in New Zealand: Government adds lease tax and FBT changes to the September Tax Bill





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