FBT on Carparks

Newsletters

One would be forgiven for thinking that the Government’s recent back down on charging FBT on carparks located in the Auckland and Wellington CBDs means that the status quo remains. However, the draft legislation as it was introduced actually includes four proposed changes that would see FBT apply when: Carparks are provided in the Auckland…

The IRD has had Another Tax Avoidance Win

Newsletters

The Court of Appeal recently ruled against Alesco NZ Ltd (a wholly owned subsidiary of Alesco Corporation, an Australian company) regarding their use of optional convertible notes (OCNs) to fund a business acquisition. In simple terms, the OCN is a form of loan subject to a zero percent interest rate that could be exchanged for…