Tax changes put vendor in 'box seat' for business sales: CAANZ

Tax changes put vendor in 'box seat' for business sales: CAANZ
The new provisions are buried deep in an omnibus bill, the Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill.
Pattrick Smellie
Proposed tax law returning to Parliament today is so questionable that the government-controlled select committee overseeing it is recommending it be placed under immediate review.The change relates to the way the value of assets in the sale or purchase of a business are allocated for tax purposes.The finance and expenditure select committee’s unanimous report on the bill says “the proposed rules are detailed and complex” and represent a substantial change to the current situation, where there are “few restrictions on ei...

More Policy

Government to repeal Business Payment Act
Policy

Government to repeal Business Payment Act

Scheme doesn't work, as evidenced by the Australian experience, Andrew Bayly says.

Business of Government: zombie policies, pendulum swings and more...
Policy

Business of Government: zombie policies, pendulum swings and more...

Our weekly roundup of public sector news and analysis.

Jem Traylen 21 Feb 2024
BNZ says a rate hike would be a policy mistake
Policy

BNZ says a rate hike would be a policy mistake

BNZ, however, also now expects rates on hold for longer. 

Rebecca Howard 19 Feb 2024
WorkRide: bang for your (bike) buck
Policy

WorkRide: bang for your (bike) buck

NZ's nascent ride-to-work scheme is picking up pace.

Gregor Thompson 19 Feb 2024