Income Tax Law Made Easy 2017

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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Book
ISBN/ISSN: 9781988506180
Release Date: January 01, 2017
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NZD$ 79.99
NZD$ 56.00
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ISBN/ISSN: 9781988506197
Release Date: January 01, 2017
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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.

Features

  • Plain English guide
  • Summarises key legislation
  • Includes examples
  • Identifies common risks
  • Practical tips for avoiding common traps

Related Titles

GST Law Made Easy
Tax Administration Law Made Easy

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

Featured Authors

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