Govt to move against trading in tax losses

Tue, 21 Apr 2020

Tax changes to assist businesses hit by covid-19 will be made mischief-proof to prevent anyone taking over a loss-making company just to get access to its tax losses, Revenue Minister Stuart Nash told Parliament's epidemic response committee.Nash said the government was aware for the potential for "mischief around loss continuity rules" and the Inland Revenue Department was examining how Australia dealt with the issue.The government announced on April 15 that it would change the current prohibition on a company's previous...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket up as Sanford rides the wave

Sanford’s result was its best in a decade.

Tom Raynel 6:10pm

Infrastructure

Treasury sounded the alarm about $1b transport fund changes

Officials recommended deferring decisions until Budget 2025.

Oliver Lewis 5:50pm

Treasury sounded the alarm about $1b transport fund changes

Markets

Why Xero is loyal to the ASX

Cloud accounting firm 'happy to show up differently', CEO says.

Rebecca Stevenson 3:45pm

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

Sponsored

Active beats passive in tough times

Agile investing responds faster to market shocks and shifts.

Milford

More Law & Regulation

Law & Regulation

Peter Huljich is Pushpay insider trader, flagging further appeal

Rich-lister Peter Huljich has been revealed as the Pushpay executive convicted of insider trading.Huljich’s identity had been suppressed since he was charged by the Financial Markets Authority (FMA) in February 2022.The current case has been closely watched by markets as it marke...

Staff reporters 1:30pm