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	<title>TalkTax</title>
	<link>http://www.talktax.co.nz</link>
	<description>A Blog for Tax and Accountancy professionals</description>
	<lastBuildDate>Mon, 30 Aug 2010 21:52:41 +0000</lastBuildDate>
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		<title>Accounting standards left trying to fix tax oddity</title>
		<description><![CDATA[In May 2010 the Taxation (Budget Measures) Act 2010 did away with tax deductions for depreciation on buildings with an expected life of 50 years or more. That in itself had many taxpayers and their advisors shaking their heads in dismay. However, imagine the impact it has on companies with large property portfolios. This latest [...]]]></description>
		<link>http://www.talktax.co.nz/index.php/2010/08/30/accounting-standards-left-trying-to-fix-tax-oddity/</link>
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		<title>Worked with great tax lawyers this year? Seeking nominations!</title>
		<description><![CDATA[Outstanding tax lawyers to be recognised in New   Zealand’s ‘client choice’ awards
TAX LAWYERS now have their own separate accolade at the premier awards for the New Zealand legal profession, with the introduction of the CCH Tax Law Award for the upcoming 2010 New Zealand Law Awards™ (Law Awards). Now in its sixth year, [...]]]></description>
		<link>http://www.talktax.co.nz/index.php/2010/08/19/worked-with-great-tax-lawyers-this-year/</link>
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		<title>GST rate increase – Is it worthwhile to pay council rates instalments in advance?</title>
		<description><![CDATA[I recently received an invoice from the Wellington City Council for the first quarterly rates instalment for the 2010/2011 year.  Enclosed with the invoice was a slip advising of the upcoming increase in GST rate and suggesting that ratepayers could save themselves some money by paying the remaining three rates instalments before 1 October [...]]]></description>
		<link>http://www.talktax.co.nz/index.php/2010/08/19/gst-rate-increase-council-rates-instalments-in-advance/</link>
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		<title>J G Russell 30 years on – is the IRD ever going to give up?</title>
		<description><![CDATA[...and so the battle continues between a tax “genius” and the IRD.  Since the 1980s, Mr J G Russell (Mr Russell) has been involved in legal disputes with the IRD over various schemes designed to reduce liability for income tax on companies he consulted to.  The IRD claims that he owes millions of dollars in back taxes, which has since grown, with penalties and interest, to a whopping $138m.

Its unimaginable how much money and IRD resources have gone into trying to incarcerate Russell, let alone the fees paid to tax lawyers in Russell’s defence.  But seriously, is there really any benefit to be gained in continuing this battle and yet spending more and more taxpayer’s money? ]]></description>
		<link>http://www.talktax.co.nz/index.php/2010/08/06/jg-russell-30-years-on/</link>
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		<title>Tax Avoidance – it all comes down to statutory interpretation</title>
		<description><![CDATA[In recent times, we have seen several tax cases being lost by Taxpayers.  Analysing the judgments, I believe we have seen a fundamental move when dealing with tax avoidance – a move back towards statutory interpretation.  The Newton and Elmiger cases are the policy basis for our anti-avoidance rule as they focus on [...]]]></description>
		<link>http://www.talktax.co.nz/index.php/2010/07/11/tax-avoidance-statutory-interpretation/</link>
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		<title>The Qualifying Company regime should be retained</title>
		<description><![CDATA[There is nothing in the Officials' Issues Paper that would lead the reader to the conclusion that QCs must be abolished.  
]]></description>
		<link>http://www.talktax.co.nz/index.php/2010/07/08/the-qualifying-company-regime-should-be-retained/</link>
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		<title>Tax Changes in Australia &#8211; will 1% make a difference.</title>
		<description><![CDATA[New Zealand&#8217;s company tax rate will be lower than Australia&#8217;s, after new Australian Prime Minister Julia Gillard today announced that the Australian corporate tax rate would not be cut below 29 percent.
Finance Minister Bill English said the news was good for New Zealand:
&#8220;Taken together with other measures in the Budget, the reduction in New Zealand&#8217;s [...]]]></description>
		<link>http://www.talktax.co.nz/index.php/2010/07/06/tax-changes-in-australia-will-1-make-a-difference/</link>
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		<title>Revenue Alert 10/01 &#8211; Taxation by Press Release?</title>
		<description><![CDATA[Thanks to the Court of Appeal's carte blanche in Penny &#38;  Hooper, Inland Revenue Officials now have the authority under the Income Tax Act to tell taxpayers how much money they ought to be making and even, the Revenue Alert suggests, what the ongoing capital requirements of their business will be. 
]]></description>
		<link>http://www.talktax.co.nz/index.php/2010/06/25/revenue-alert-1001-taxation-by-press-release/</link>
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		<title>Dastardly Duty may be Demolished</title>
		<description><![CDATA[This 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 [...]]]></description>
		<link>http://www.talktax.co.nz/index.php/2010/06/24/gift-duty-abolition/</link>
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		<title>Penny and Hooper</title>
		<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>
		<link>http://www.talktax.co.nz/index.php/2010/06/08/penny-and-hooper/</link>
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