Accountants gear up to ‘minimise’ new top tax rate

Tue, 01 Dec 2020

Accounting firms are mobilising to assist high-income clients minimise their exposure to the new top personal tax rate of 39 cents in the dollar.But while some high-income earners will be able to structure their affairs using trusts and companies to avoid the new rate, accounting firm Deloitte also warns taxpayers are on notice “any restructuring that is undertaken for predominantly tax reasons is likely to be reviewed by Inland Revenue.”Revenue Minister David Parker was scheduled to introduce legislation this afternoon to raise the...

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