TaxTonic Webinar Series Topics for 2020

When: Friday, 14 February 2020

Time: 10.00am to 11.30am

FOCUS OF CONTENT

Practical issues for Rental Ringfencing: Can you portfolio with distributions from trusts? Overseas properties included?  What about houses on multi-use blocks?

Donations tax credit - retrospective changes coming soon.  Govt response to Court of Appeal in Roberts confirming forgiveness of debt is OK. So what ‘donations’ will qualify for the credit now?

ACC levies – refunds for shareholder employees being overlooked 

ACC Earners Premium - are these deductible?

Nanny/Au pair costs and Health and Safety costs (eg gym fees for employees) – are these private, deductible and/or subject to FBT?

Income protection and loss of earnings payments - how do we handle GST on these?

When: Friday, March 20th 2020

Time: 10.00am to 11.30am

FOCUS OF CONTENT

The March 2020 webinar will include:

Legal fees - paid on buying/selling rentals, also trust and estate legal fees - what is the latest on deductibility?

Analysis in IRD’s recent draft statement on associated person supplies and “Airbnbs” creates major disturbance for owners who think they are below the GST threshold.

Interaction between CB 3 (profit-making schemes) and land sale provisions.

Clearing confusion on death rollover provisions where the spouse is the sole beneficiary versus all other scenarios.

Ring-fencing revisited - beneficiary income from rental trust and losses in personal name.

Where are we at with QC phase out – does it matter anyway?

Tax transfers and effective date for ICA - IRDs statement in OP 20/01, traps to watch out for.

Recent determination for employers on apportioning private v business for employee phones and laptops.

When: Friday, 1st May 2020

Time: 10.00am to 11.30am

1.            Covid-19 Wage Subsidy Round Up:  taxation and timing issues etc, and other tax measures

2.            Holding costs on private land which has become taxable - IRD draft proposals

3.            Trust-owned properties: who returns income and claims expenses?

4.            Covid-19 - FBT exemption for vehicles?

5.            Trust resettlements and debt remission issues

6.            US LLCs and US tax credits for NZ clients - IRD draft PUB00338

7.            Trusts distributing on to Loss Companies - all the "ins" and "outs"

8.            MUA (mixed use asset) rules vs. Ring-fencing: can we choose which regime to apply

When: Friday, 12 June 2020

Time: 10.00am to 11.30am

FOCUS OF CONTENT

The June 2020 webinar will include:

1.      Interest on credit shareholder accounts:  RWT mismatch and timing issues, the law vs. IRDs system

2.      GST changes coming for treatment of: Adjustments, CZR mistakes, cryptocurrency, international conferences etc

3.      GST and portable cabin businesses: can they be exempt residential or taxable?

4.      Overseas rental properties – checklist of tax issues

5.      Bright-line and main home: trust home with flatmates, how does main home exemption work?

6.      Forgiveness of Debt: what creates taxable income and what doesn’t?

7.      GST clauses in S&P Agreements: new 10th Edition ADLS agreement

When: Friday, 24 July 2020

Time: 10.00am to 11.30am

FOCUS OF CONTENT

The July 2020 webinar will include:

1.      GST zero rating : All types of Exported Services & Financial Services (eg mortgage brokers)

2.      Covid 19 and delayed property settlements: tax issues on ‘penalty interest’  

3.      PIE Losses & Negative RWT: who can claim?  

4.      Rental ring-fencing – deductibility of accounting fees and other misc expenses  

5.      Covid 19: Tax loss carry back for groups 

6.      ICA credits converted to losses: can we use subvention payments in same year?  

7.      Standard deferred Property Settlement -  consequence of no lowest price clause  

8.      Ring-fencing: dual use property – in or out

When: Friday, 4 September 2020

Time: 10.00am to 11.30am

FOCUS OF CONTENT

The Sept 2020 webinar will include:

1.  Employee Share Schemes : refresher on tax treatment and planning option
2.  Land Tainting – getting the fundamentals right
3.  Fonterra deferred payments: Fixed Milk Price (FMP) contracts and tax treatment  
4.  RWT – what, when and how much?
5.  Building depreciation restart: how about on home office building? 
6.  Golden Rules for Property
7.  Rental ring-fencing -  farm houses and related persons, employee accommodation exemption?  
8.  Quick Fire Update - small but important changes

When: Friday, 16 October 2020

Time: 10.00am to 11.30am

FOCUS OF CONTENT

The October 2020 webinar will include:

·        GST and Farm House – Not what you think

·        Subdivisions & minor work – IRDs views in IS 20/08, what do we think?

·        Brightline – parents buying for children:  Sidestep 

·        Clients stranded in NZ under Covid – NZ tax residency and DTA tests, taxing overseas salaries?

·        Winding up Trust Issues

·        Non-resident employers obligation to deduct PAYE – IRD draft ED0223 and practical issues for NZ employees

·        Not enough ICs: What can legitimately cause that and quick way to double check

·        GST and associated person leakage for 2ndhand goods claims on land –  a light at end of tunnel?