May 2024

Budget 2024 - Our View

The New Zealand 2024 Budget was handed down on 30 May at 2pm. The Budget for 2024 demonstrates fiscal responsibility, provides long-awaited tax relief for 83% of New Zealanders, and allocates funds towards enhancing frontline public services for improved outcomes.

Moore Markhams
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Rollover Relief or Grief?

The main change is that the bright-line period will now decrease from 10 years for existing properties or 5 years for a new build, to 2 years which applies to disposals on or after the 1 July. Rollover relief rules applying to bright-line transfers of residential land have also had a complete makeover, with the new criteria applying from 1 July.

Moore Markhams
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De Facto Relationship or Not?

The Working for Families Tax Credit (WFFTC) is a notoriously complex scheme when it comes to determining eligibility and quantifying entitlement. This leads you to wonder how well the scheme is policed by Inland Revenue, and whether fraud is able to ‘fly under the radar’.

Moore Markhams
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Beware of Deemed Dividends

The concept of what is a “dividend” is very broad and starts with the default proposition that any transfer of value from a company to a shareholder is a dividend. That concept includes the simple scenario of an interest free loan to a shareholder or a person associated to a shareholder; which can also include loans between companies.

Moore Markhams
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A Flexible and Supportive Work Environment

Stevie Mark’s journey with Moore Markhams is a testament to the flexibility of the network, giving individuals the opportunity to work abroad, whilst pursuing their travel dreams.

Moore Markhams
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