Consultations listing

This interpretation statement explains the income tax rules that allow a taxpayer to claim a depreciation loss deduction for the full capital cost of an item of depreciable property where the item’s cost does not exceed a specified threshold. It also explains how the rules work when a taxpayer purchases items of property together, and how depreciation recovery income can arise when they dispose of such items.

This interpretation statement explains the compulsory zero-rating of land rules and sets out what information a purchaser must provide to a vendor where a supply wholly or partly consists of land. It also explains what to do when the GST treatment is incorrect, including where a purchaser provides incorrect information.

This question we’ve been asked (QWBA) provides guidance on how the continuity of business activities rules in subpart IB of the Income Tax Act 2007 apply to losses arising in the income year in which a company breaches the continuity of ownership requirements. Uncertainty has arisen about whether that income year is an “earlier income year” under s IB 3(2), such that the losses can be carried forward. This QWBA confirms losses incurred in the income year of an ownership continuity breach can be carried forward. It is relevant to companies that have both an ownership continuity breach and a tax loss arising in the income year of the breach.

This interpretation statement considers how sections 5(15) – (16C) of the Goods and Services Tax Act 1985 (Act) apply where a private residence is included as part of a wider supply of land. Section 5(15) deems the residence to be a separate supply from the rest of the land, which must be considered separately for GST purposes.

This interpretation statement explains how income tax applies to persons who undertake forestry activities (including those who derive income from sales of timber). It discusses the circumstances in which a person is (or is not) carrying on a forestry business, when a person has income from forestry activities, when deductions are available, and the forestry rights regime.

This draft operational statement explains the income tax treatment of amounts societies, clubs and other not-for-profit associations receive from members, other than amounts subject to a specific tax exemption such as for charities or sports clubs. It describes how the mutual association provisions override the principle of mutuality meaning that supplies of trading stock and services to members may be taxable. In addition, following legislative changes proposed in the Taxation (Annual Rates for 2026–27, FBT Simplification, Foreign Investment Funds, and Remedial Measures) Bill, membership subscriptions, fees and levies will generally be exempt income for not-for-profit organisations. Organisations with net income of less than $10,000, will have no tax liability and may choose not to file tax returns. The statement applies from 1 April 2027 and will be prospective in application when finalised.

This question we’ve been asked explains when a person derives retention money as income and when they incur the expenditure of retention money for income tax purposes. It discusses how in some cases retention money is incurred at the point when each progress payment from which retention money is withheld is payable, how the contractual terms governing retention money affect the timing of income recognition and deductions, including how the specific timing rule in s EA 3 and the financial arrangements rules apply in certain situations. This guidance is important for taxpayers who use retention arrangements including those in the construction industry.

New Zealand Food Safety wants your feedback about changes to the Food Notice: Maximum Residue Levels for Agricultural Compounds.

This interpretation guideline addresses payments made by New Zealand entities to non-residents in connection with software transactions. Its focus is on explaining the principles behind the classification of common types of software transactions. It also outlines the relevant income tax implications of those transactions under New Zealand law, including the impact of double tax agreements (DTAs).