Tax audits, disputes & rulings

Tax audits, disputes & rulings

The tax-risk environment has changed, and technology is increasing the chance of IRD looking into your affairs.

Real-time big data and specialist software are routinely used to monitor records and transactions. Baker Tilly Staples Rodway’s tax advisors are reliable and experienced at dealing with IRD, whether you're responding to questions, need help during an audit, or require a binding ruling to resolve a tax uncertainty.

Our services include:

Audits and disputes
  • Collating and presenting information requested during risk reviews, audits, and basic compliance package request.
  • Drafting and submitting technical responses and formal dispute documents to address Inland Revenue queries and challenges.
  • Strategy and leading negotiations to obtain the best outcomes during settlement discussions, and to minimise penalties.
Voluntary disclosures
  • Making a voluntary disclosure to Inland Revenue if you haven't returned the correct income. Usually, this results in no penalties charged and immunity from prosecution.
Binding Rulings
  • A Binding ruling is an agreement between senior and independent Inland Revenue personnel that locks-down the tax effects, and efficiencies of a proposed or recent transaction.
  • We can manage your binding ruling application.

Who can benefit from binding ruling:

  • Family requiring assurance on a proposed family business transaction.
  • Parties to large transactions eg. construction projects
  • Cross-border businesses using advanced pricing agreements (APA) to lock down cross-border dealings.
  • Boards of public and larger family companies.
Key business contracts

Binding Rulings mean that your suppliers, contractors, employees and customers are tax assured when dealing with your business, for example:

  • Employee share schemes
  • Multi-party projects including, infrastructure construction, film, and primary industry
  • Customer loyalty programs

Binding Rulings lock-down the tax effect of key transactions.

Boards in total control

Tax controversy is a no go for Boards of public and larger family companies.

Boards use Binding Rulings to eliminate tax risk in large or complex transactions. This “set-and-forget” approach enables the Board to keep a keen focus on the business itself – your governance enhanced.

Multinationals doing business in NZ

Tax is in the media. Now more than ever, multinationals operating in New Zealand use Binding Rulings and Advance Pricing Agreements to guarantee tax efficiencies and avoid possible media driven tax controversy – your brand protected.

Family business - restructuring

Protecting family wealth for future generations can involve the transfer of substantial income producing assets under family structures. Key tax questions arise for Inland Revenue; dividend stripping, deemed dividends, depreciation recovery, deemed market value transfers, GST. A Binding Ruling assures the whole family and provides intergenerational tax certainty – your legacy secure.

Services

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News

05 Apr 2022

Tax Talk | Taxing the gig and sharing economy

With the rapid rise in the use of digital platforms to connect buyers and sellers, tax administrations around the world are realising that meeting tax obligations under current tax settings is a real challenge for those involved in the gig and sharing economy.

17 Mar 2022

Financial support update for businesses affected by Omicron

Inland Revenue has new timeframes around its latest assistance for businesses feeling the impacts of COVID-19.

23 Feb 2022

Tax Talk | Financial support for businesses most affected by Omicron

25 Nov 2021

Government support update

11 Nov 2021

Further COVID-19 support – make sure you claim your entitlement

Recent changes to the structure of government COVID support for businesses mean the dates on which applications open will now be aligned. Applications for both the next round of the wage subsidy and the next round of the resurgence support payment will be opening this Friday (12 November 2021).

08 Oct 2021

Ongoing Government Support for Business | COVID-19

29 Sep 2021

Tax Talk | Interest Deductibility Rules Announced

More than six months after the government announced interest deductibility limitations for residential properties and a mere three days before these rules would come into force for residential rental properties owned prior to 27 March 2021, the government has released the new legislation in the form of a Supplementary Order…

21 Sep 2021

Tax Talk | New Tax Bill

The Minister of Revenue recently introduced the Taxation (Annual Rates for 2021-22, GST and Remedial Matters) Bill (the Bill) to Parliament.   We discuss the key changes here.

14 Sep 2021

Tax Talk | Business support update

With Auckland set to have another week at Level 4, and potentially several weeks at Level 3, the support available for business throughout the country continues to evolve.   We provide the latest on what support is available, the criteria and when it will be available.

13 Sep 2021

Resurgence support payments from 8 September

The Minister of Finance has announced another round of the Resurgence Support Payment.

25 Aug 2021

Tax Talk | Inland Revenue confirms no penalty for late payment or late filing

The Inland Revenue Department is reassuring customers they won't be penalised for late payments and asking that people do not try to contact them via phone, instead to use MyIR.  

25 Aug 2021

Business Checklist - COVID-19

As we progress up and down Alert Levels, businesses need to review their business continuity plans, and take a flexible mindset to operations.  

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