Income Tax Law Made Easy 2017 (eBook)

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Enables client advisers, corporate employees and business owners to understand their tax responsibilities, allowing them to manage their tax risks and their relationship with Inland Revenue.

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NZD$ 79.99
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ISBN/ISSN: 9781988506197

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Product description

Income tax is the most important source of revenue for the Government and this is demonstrated by Inland Revenue’s focus on enforcement and compliance. Businesses should be prepared by adopting an effective tax risk management focus to ensure their tax risk is minimised and their relationship with Inland Revenue is positive.

Income Tax Law Made Easy is written from a tax practitioner’s perspective to provide practical guidance for those dealing with tax responsibilities. It has an easy to understand yet comprehensive style which canvasses the main responsibilities that people in business are likely to face in their roles as client advisers, corporate employees or business owners.

This book sets out the practical essentials of income tax law in New Zealand. Despite being a highly complex area of law, it simplifies the complexity to enable business people to identify and understand the issues and deal effectively with any perceived risks. Included are examples, tips and risks derived from real situations to highlight income tax issues that businesses are likely to face.

If you are looking for tax avoidance schemes this book is not for you. Instead, Income Tax Law Made Easy focuses on identifying the areas of tax law that commonly cause problems for businesses and endeavours to ensure that taxpayers manage their risks and their relationship with Inland Revenue.

Related Titles

GST Law Made Easy
Tax Administration Law Made Easy
And 8 more titles in MyLawGuide’s Law Made Easy series

 

Featured Authors

Colin De Freyne
Mark J Greening

Colin De Freyne

Colin De Freyne (CA – CAANZ and ICAEW) has spent 28 years of his professional career with ‘Big 4’ firms, 10 years as a tax partner, and advised on GST (or VAT) in the UK, Australia and New Zealand. He is the principal of De Freyne and Associates Limited.

View all books by Colin De Freyne (2)

Mark J Greening

Mark J Greening (LLM, BA) is a former adjudicator and senior solicitor for the Office of the Chief Tax Counsel at Inland Revenue. Mark holds a Master of Laws and has accumulated over 20 years’ experience in observing and writing on the development of tax law in New Zealand. He was formerly the managing writer and editor for several prestigious tax publications including Staples Tax Guide.

View all books by Mark J Greening (3)

Table of contents

Income tax basics

 Calculating income tax

 Residence and source

 Income

 Adjustments

 Recoveries

 Trading activity income

 Passive income

 Employment income

 Allowances, pensions and grants

 Attributed foreign income: CFC and FIF rules

 Fringe benefits

 Exempt and excluded income

 Deductions

 Allowable deductions

 Bad debts

 Employee and contractor expenditure

 Entertainment

 Motor vehicles

 Timing and quantifying rules

 Trading stock

 Accruals

 Depreciation

 Financial arrangements

 Recharacterisation of income

 Consolidations

 Amalgamations

 International tax rules

 CFC and FIF rules

 Thin capitalisation rules

 Transfer pricing rules

 Specific entity rules

 Look-through companies

 Partnerships and joint ventures

 Limited partnerships and trusts

 PIEs

 Associated persons rules

 Losses

 Tax credit regimes

 Provisional tax and penalties

 Withholding taxes

 Avoidance
 

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