Depreciation

IRD has issued new depreciation rates for residential rental property chattels effective from 1 april 2011. For more information contact us. Buildings can no longer be depreciated effective 1 April 2011. Carparks (buildings and pads) can still be...

Tax Avoidance

IRD has a new weapon – what did Parliament contemplate! Given that Inland Revenue writes the law and advises Parliament and MP’s don’t have a clue – arguably Parliament contemplated what ever Inland Revenue contemplated. So logically, if Inland...

Inland Revenue is a creditor

The Income Tax Act 2007 has a provision which allows Inland Revenue to collect outstanding tax of a company from another similar company if it considers there was an arrangement to avoid paying tax due. The company can have similar shareholders or directors and the...