All across New Zealand, business people, managers and staff will have been very busy for the last month or so, readying themselves for the coming end of the financial year ended 31 March, and preparing for the new year's start on April 1st.
Stocktakes, accounting analysis, cashup's, receivables & payables can all be nightmarish terms that can long haunt entity seniors for months to come.

But what about the average New Zealand worker? What does the new 2012 tax year herald for them?

By Peter Macfarlane

Tax Treaty Benefits of New Zealand Trusts

As an example of this third benefit, property in France is normally taxable. The Double Tax Treaty between New Zealand and France may however be used to eliminate tax on French properties. Similarly, it is often possible to avoid withholding taxes in other countries using a New Zealand trust, even if that income derives from an active business (for example royalties obtained from franchising brands or know-how).

By Nick Steven Robertson

In New Zealand prior to 2001 anyone who was paying tax had to declare this at the end of the year to Inland Revenue on a form called an IR5. This was hard on those who were not very good at keeping records etc.

By Mary Cleo

Many people look for a decent low-tax jurisdiction to incorporate their offshore business. Most tax havens already acquired negative connotations and are not suitable in certain circumstances. New Zealand is a fresh choice.

New Zealand is a first world country, a member of OECD, which never was a part to any blacklists of harmful tax havens. It offers absolutely respectable international image and serious tax privileges at the same time.

By Paul J Easton

As the end of the year rapidly approaches, the Tax Working Group is hard at work reviewing the current tax system of New Zealand. The Tax Working Group is a consortium of professionals in academics, government, and industry whose expertise shapes the proposals presented to the government.