Name: Sybrand van Schalkwyk
Email:
Web Site: http://www.parryfieldlawyers.com
Bio: Sybrand van Schalkwyk LLM(Hons), BCom, CA, ADIT. Sybrand is an Associate with Parry Field Lawyers in Christchurch. Prior to joining the firm he worked with a big 4 accounting practice in Jersey, the Channel Islands. Here he advised high net worth individuals on tax issues in relation to their worldwide corporate structures as well as heading the indirect tax team based on the Island. Sybrand has also worked for the international tax team in the IRD Policy Advice Division. At the IRD Sybrand's main contributions were: assisting with the design and early stages of implementation of the PIE rules; policy design and consultation on the recent changes to the FIF rules; and assistance with the negotiation and implementation of double tax agreements. Sybrand has published articles in international tax journals, and has presented on international tax and indirect tax issues in New Zealand, the Channel Islands and the United Kingdom. Contact details: Tel: 0064 3 379 4383.
Posts by Sybrand van Schalkwyk:
Dastardly Duty may be Demolished
June 24th, 2010This blog considers the likely consequences if Gift Duty were to be abolished. The Government has recently announced that such a move is being considered. Every practitioner should be aware of this possible shift, as it is likely to have an impact on just about every individual they advise. The Government has said that a period of consultation will be undertaken, and if Gift Duty is to be abolished, the proposal will be contained in a Bill to be released in November 2010.
GST Transitional Rules for those on Payments Basis
June 1st, 2010What are the transitional rules for moving to the 15% GST rate in New Zealand from 1 October 2010 if you account for GST on a payments basis? The transition rules applying to those on a payments basis are arguably the most complex part of the change to the GST rate. This article helps explain these specific aspects of the transitional rules. Read the rest of this entry “
Budget Podcast – John Peterson, Vicki Ammundsen and Sybrand van Schalkwyk
May 20th, 2010John Peterson and Vicki Ammundsen join me on this first TalkTax podcast. Hope you enjoy our thoughts on the Budget released today. Please leave a comment below.
Click on this link to listen: Thoughts on the Budget
The transcript of the podcast is copied below:
Australia New Zealand DTA enters into force
March 23rd, 2010Yesterday the Government announced that the new Australia/New Zealand double tax agreement has entered into force. This means that both countries have completed their domestic law requirements for incorporating the treaty into their respective laws. The way is clear for the provisions of the treaty to apply.
The application dates are different for different types of tax. The first relevant application date is the provisions relating to Fringe Benefit Tax (“FBT”). Briefly the Article provides that FBT will follow the taxing rights of salary and wages, thereby reducing the possibility of double FBT. The provisions apply from 1 April 2010, and is slightly different compared with the 1995 treaty position.
International Charities’ help required
January 25th, 2010Are you an international charity that has recently applied for listing on Schedule 32 of the Income Tax Act 2007? Or do you have a client in this position? If so, we would like to hear from you.
Very briefly, Schedule 32 status is afforded to a select few international charities, and with the lifting of the caps on donations credits and deductions, there has been a flood of applications to be listed.
Tax New Year’s Resolutions–Victoria Uni Tax Working Group Report
January 20th, 2010One can imagine the Income Tax Act 2007 looking in the mirror on the morning of 1 January and saying to itself: “You need to loose some weight buddy”. Or the IR 3 trying to squeeze into its envelope and feeling as if it’s bursting at the seams. Alas, just like with everyone else, neither the Tax Act nor the IR 3 is likely to keep to their New Year’s Resolutions.
Proposed GST domestic reverse charge…a good idea?
December 15th, 2009GST is a hazardous tax, not only for taxpayers, but also for the Government. Unlike income tax, the Government has a commitment to refund GST, and this part of the GST mechanism leaves the tax open to manipulation. The hazard is greatest where the assets are the most expensive. The domestic reverse charge mechanism will to an extent reduce the risk the Government faces from being ripped off through the GST system in relation to the most expensive items being traded in our economy.
Income Splitting Issues Paper Released
December 12th, 2009On 11 December 2009 the Government released an issues paper on income splitting. The paper fleshes out the UnitedFuture proposal, which has support from the Government to first reading as part of the coalition agreement.
Married, civil union and de facto couples would be able to split their income 50/50 to take advantage of lower marginal tax rates. The lower rate will be delivered by way of a credit through the Working for Families system.
Some thoughts on the new Associated Persons Rules…
September 11th, 2009The well publicised new Associated Persons Rules are due to come into force within the next week or two and already there is uncertainty about their application. The rules are possibly the most complex part in the Income Tax Act, and what makes things worse is that they play a very important role in the taxation of some of the largest assets traded in New Zealand – i.e. real property. It is therefore very important that everyone understands exactly what they are, and how to apply them.
EUREKA! Gift Duty Applies to Donations!
September 8th, 2009Unlike the naked Archimedes’s joyful exclamation, the recent exposé of the Eureka Trust comes as a more serious warning for those working in the charitable sector. Charities never need to bother with tax issues do they? Actually, yes…
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