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	<title>TalkTax &#187; Vicki Ammundsen</title>
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			<title>TalkTax</title>
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		<item>
		<title>Tax efficiency in the spotlight</title>
		<link>http://www.talktax.co.nz/index.php/2011/11/23/tax-efficiency-in-the-spotlight/</link>
		<comments>http://www.talktax.co.nz/index.php/2011/11/23/tax-efficiency-in-the-spotlight/#comments</comments>
		<pubDate>Tue, 22 Nov 2011 21:23:05 +0000</pubDate>
		<dc:creator>Vicki Ammundsen</dc:creator>
				<category><![CDATA[Audit]]></category>
		<category><![CDATA[Tax administration]]></category>

		<guid isPermaLink="false">http://www.talktax.co.nz/?p=1257</guid>
		<description><![CDATA[New Zealand tax system has been ranked the 27th most efficient out of the 183 countries surveyed in a report compiled by PricewaterhouseCoopers, the World Bank and the International Finance Corporation.
New Zealand&#8217;s average tax rate of 34.4 compares favourably with the average global rate of 44.8 per cent, and Australia&#8217;s rate of 47.7 per cent.
New Zealand [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Law Society comments on Newmarket Trustees</title>
		<link>http://www.talktax.co.nz/index.php/2011/09/07/law-society-comments-on-newmarket-trustees/</link>
		<comments>http://www.talktax.co.nz/index.php/2011/09/07/law-society-comments-on-newmarket-trustees/#comments</comments>
		<pubDate>Tue, 06 Sep 2011 23:57:51 +0000</pubDate>
		<dc:creator>Vicki Ammundsen</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Trusts Liquidation Corporate Trustee]]></category>

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		<description><![CDATA[Although the Newmarket Trustees case appeal has yet to be heard, the Law Society has come out in support for the single corporate trustee model.
See http://www.adls.org.nz/about-adls/committees/public-issues-committee/public-issue-papers
Another advantage of the single or dedicated corporate trustee model is the ease (and cost effectiveness) at which the effective control of the corporate trustee can be changed.  However, [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>GST-offsets &#8211; a lesson why not to</title>
		<link>http://www.talktax.co.nz/index.php/2011/08/30/gst-offsets-a-lesson-why-not-to/</link>
		<comments>http://www.talktax.co.nz/index.php/2011/08/30/gst-offsets-a-lesson-why-not-to/#comments</comments>
		<pubDate>Tue, 30 Aug 2011 01:47:21 +0000</pubDate>
		<dc:creator>Vicki Ammundsen</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[GST]]></category>

		<guid isPermaLink="false">http://www.talktax.co.nz/index.php/2011/08/30/gst-offsets-a-lesson-why-not-to/</guid>
		<description><![CDATA[The recent decision in Spicer v Boulcott Development Group Limited  HC Wellington CIV-2011-485-714, 24 August 2011 highlights the dangers inherent in GST-offset agreements.  Although these agreements will be less common with the amendment to the GST Act allowing zero-rating of land there are still occasions where GST-offset agreements may be contemplated.
The facts of [...]]]></description>
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		<title>Taxpayer not assessable on sale of land acquired with intention of resale</title>
		<link>http://www.talktax.co.nz/index.php/2011/07/31/taxpayer-not-assessable-on-sale-of-land-acquired-with-intention-of-resale/</link>
		<comments>http://www.talktax.co.nz/index.php/2011/07/31/taxpayer-not-assessable-on-sale-of-land-acquired-with-intention-of-resale/#comments</comments>
		<pubDate>Sun, 31 Jul 2011 01:14:10 +0000</pubDate>
		<dc:creator>Vicki Ammundsen</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[constructive trust]]></category>
		<category><![CDATA[income tax]]></category>

		<guid isPermaLink="false">http://www.talktax.co.nz/index.php/2011/07/31/taxpayer-not-assessable-on-sale-of-land-acquired-with-intention-of-resale/</guid>
		<description><![CDATA[The High Court decision in Junior Farms Limited v CIR (CIV-2009-404-2870, Brewer J, 22 July 2011), while perhaps a “fair” result in the circumstances of the case, is difficult to sustain by reference to the Income Tax Act 2007. That said the decision may prove useful for any advisor or trustee where a tax event [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Lies, damned lies and gifting …</title>
		<link>http://www.talktax.co.nz/index.php/2011/06/30/lies-damned-lies-and-gifting/</link>
		<comments>http://www.talktax.co.nz/index.php/2011/06/30/lies-damned-lies-and-gifting/#comments</comments>
		<pubDate>Thu, 30 Jun 2011 00:39:25 +0000</pubDate>
		<dc:creator>Vicki Ammundsen</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Tax]]></category>
		<category><![CDATA[Trust]]></category>

		<guid isPermaLink="false">http://www.talktax.co.nz/index.php/2011/06/30/lies-damned-lies-and-gifting-%e2%80%a6/</guid>
		<description><![CDATA[In addition to recommending that gift duty be abolished, the report back from the Officials’ Report to the Finance and Expenditure Select Committee on Submissions on the Taxation (Tax Administration and Remedial Matters) Bill highlights some interesting statistics about the use of trusts.
According to the report less than .003% of the 430,000 IRD numbers (that [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Penny and Hooper</title>
		<link>http://www.talktax.co.nz/index.php/2010/06/08/penny-and-hooper/</link>
		<comments>http://www.talktax.co.nz/index.php/2010/06/08/penny-and-hooper/#comments</comments>
		<pubDate>Mon, 07 Jun 2010 23:19:48 +0000</pubDate>
		<dc:creator>Vicki Ammundsen</dc:creator>
				<category><![CDATA[Avoidance and tax planning]]></category>
		<category><![CDATA[Financial]]></category>
		<category><![CDATA[Tax accounting]]></category>
		<category><![CDATA[Tax administration]]></category>
		<category><![CDATA[Trusts]]></category>
		<category><![CDATA[Avoidance]]></category>

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		<description><![CDATA[The appeal in Penny and Hooper has been decided in favour of the Commissioner in a 2:1 majority decision of the Court of Appeal released on 4 June 2010.
In the first instance the decision could be considered to have been rendered largely nugatory for the time being given the recent reduction of the top marginal [...]]]></description>
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		<slash:comments>7</slash:comments>
		</item>
		<item>
		<title>Healthy Food</title>
		<link>http://www.talktax.co.nz/index.php/2010/04/28/healthy-food/</link>
		<comments>http://www.talktax.co.nz/index.php/2010/04/28/healthy-food/#comments</comments>
		<pubDate>Tue, 27 Apr 2010 23:41:44 +0000</pubDate>
		<dc:creator>Vicki Ammundsen</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[GST]]></category>

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		<description><![CDATA[The Goods and Services Tax (Exemption of Healthy Food) Amendment Bill (a private Member’s Bill sponsored by Rahui Katene) was pulled from the ballot last week.  This Bill proposes to exempt “healthy foods” from GST so that these foods will be more affordable to low-income households.  While the motivation for this is laudable, [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Corporate trustee up-date</title>
		<link>http://www.talktax.co.nz/index.php/2010/04/21/corporate-trustee-up-date/</link>
		<comments>http://www.talktax.co.nz/index.php/2010/04/21/corporate-trustee-up-date/#comments</comments>
		<pubDate>Tue, 20 Apr 2010 23:27:56 +0000</pubDate>
		<dc:creator>Vicki Ammundsen</dc:creator>
				<category><![CDATA[Trusts]]></category>

		<guid isPermaLink="false">http://www.talktax.co.nz/?p=607</guid>
		<description><![CDATA[The recent decision in Newmarket Trustees Limited v CIR is a timely reminder of the risks inherent in the appointment of an assetless corporate trustee.  Newmarket Trustees Limited is the trustee for a number of trusts, one of which (the Southern Lights Trust) has substantial unsatisfied tax obligations.  Newmarket Trustees Limited acknowledged its liability for the tax obligations (about [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
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		<title>Clarification regarding blue pencil</title>
		<link>http://www.talktax.co.nz/index.php/2010/03/27/clarification-regarding-blue-pencil/</link>
		<comments>http://www.talktax.co.nz/index.php/2010/03/27/clarification-regarding-blue-pencil/#comments</comments>
		<pubDate>Sat, 27 Mar 2010 02:39:12 +0000</pubDate>
		<dc:creator>Vicki Ammundsen</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[Charities]]></category>
		<category><![CDATA[Trusts]]></category>

		<guid isPermaLink="false">http://www.talktax.co.nz/?p=589</guid>
		<description><![CDATA[The recent decision in Canterbury Development Corporation &#38; Ors v Charities Commission (see cch.co.nz) provides a useful consideration of the &#8220;blue pencil&#8221; provisions in s. 61B of the Charitable Trusts Act 1957.  Essentially s. 61B can be used to delete provisions of a trust that invalidate a charitable purpose.  However,  although the section refers to a &#8220;trust&#8221;, the High [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
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		<title>A fair rate of GST</title>
		<link>http://www.talktax.co.nz/index.php/2010/03/10/a-fair-rate-of-gst/</link>
		<comments>http://www.talktax.co.nz/index.php/2010/03/10/a-fair-rate-of-gst/#comments</comments>
		<pubDate>Wed, 10 Mar 2010 05:45:18 +0000</pubDate>
		<dc:creator>Vicki Ammundsen</dc:creator>
				<category><![CDATA[Financial]]></category>
		<category><![CDATA[GST]]></category>

		<guid isPermaLink="false">http://www.talktax.co.nz/?p=562</guid>
		<description><![CDATA[It seems accepted in many quarters now that an increase to the rate of GST is inevitable.  If this is the case the figure of 15% appears to be a likely contender for the new rate &#8211; even if the math will be hard.  I&#8217;ve already stated my consumption tax bias, and as an avid [...]]]></description>
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		<slash:comments>7</slash:comments>
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