New Zealand

Details

  • Service: Tax
  • Type: Business and industry issue
  • Date: 28/09/2012

Contact us

 Ross McKinley

Ross McKinley

Partner, Tax

+64 9 367 5904 

rdmckinley@kpmg.co.nz

Tax

Our tax advisory team has the skills and commitment to help you to be competitive and compliant in all areas of business tax.

Taxmail - Application date for lease inducement tax changes 

Issue 2, September 2012

 

Revenue Minister Peter Dunne has announced significant refinements to the proposals released earlier in the year to tax lease inducements.  This is in response to concerns raised by KPMG and others.

 

  • Shifting the application date for the proposals from 26 July 2012 to 1 April next year.
  • Confirming the deductibility of lease inducement payments to landlords.
  • Addressing concurrently the assessability/non-deductibility of lease surrender payments.

KPMG welcomes the above changes, which will make the proposals more workable (particularly the change in application date as the original date created significant uncertainty for taxpayers). 

 

While some concerns still remain, Government (and Officials) should be commended for taking on board the serious practical concerns raised. 

 

This also highlights the importance of taxpayers making their concerns known to Government and Officials in order to get changes made.

 

If you have any questions on the above, please

speak to your usual KPMG advisor or contact:

 

Ross McKinley
Partner - Tax
KPMG
Phone: +64 9 367 5904
rdmckinley@kpmg.co.nz

 

Darshana Elwela
National Tax Director
KPMG
Phone: +64 9 367 5940
delwela@kpmg.co.nz

 

Taxmail - Comment on topical tax issues from KPMG NZ Tax. 

Sign up now

Subscribe to selected content and receive email alerts when new content is available for viewing on this site.

 

Already a member? Login

 

Not a member? Register