GST and land sales

In 2011, the GST Act was amended to prescribe that a supply of land between two GST registered parties was subject to a rate of zero percent if the land was to be used by the purchaser to make taxable supplies and not as a principal place of residence.

You versus your Trust

It is common from a layman’s perspective to not appreciate the relevance of treating separate legal entities as separate. A recent High Court decision has an important precedent.

When is a gift not a donation?

If an individual pays “…a monetary gift of $5 or more…” to a charity they are able to claim one third of it back from Inland Revenue.  Prior to 1 April 2008, individuals could only claim donations of up to $1,890, i.e. a refund of $630.

Winding up a company

If a company does not file its annual return with the Companies Office, it may be struck off from the Companies Register. This is sometimes used as a ‘short-cut’ method, rather than completing the short-form company liquidation process.

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