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Generally speaking it makes sense for tax to be paid on profits, but is it fair that tax should be paid on losses… Within New Zealand’s tax legislation there is a set of provisions called the financial arrangement rules. These rules basically identify gains and losses that arise on certain financial instruments (such as interest...

For many businesses, 31 March is an important date because it is the end of their financial year, and it is the last day their accountant has to file their prior year’s tax return. To make the year-end process as smooth as possible (at least from a tax perspective), a few “to-dos”, along with some...

As the amount of income tax you have to pay is determined on an annual basis it is important to ensure items of income are allocated correctly to a particular year. Although common sense will get the right answer in most situations, being aware of some of the concepts around this topic could help you...