Practical Tax Advice
Our team works across all areas of taxation, including corporate taxation, tax planning and structuring, trusts, land tax matters and GST. We provide advice and solutions whether you are trading in New Zealand or offshore. With access to other tax specialists via our global network Nexia International, we can offer you the best options across all the jurisdictions that you are trading in.
At Nexia we have extensive experience in providing corporate taxation advice and compliance services to a wide range of businesses. We offer the full range of services, from advice on a one-off issue or query, to reviewing your business structure or assisting with a business sale, purchase or restructure, to assisting with your corporate tax compliance and tax financial reporting.
Tax Planning and Structuring
A key part of our offering is to ensure our clients have an efficient and effective structure, which is gained from first working alongside them to understand their unique circumstances, goals and aspirations. Our core objectives are to help our clients retain their wealth through effective, quality tax decisions, and to ensure that tax isn’t keeping them awake at night.
Having an appropriate structure which maximises tax advantages (and minimises disadvantages) is key to achieving these objectives. We can assist with reviewing your existing structure, and advise on the best way to establish a business or structure an acquisition or sale.
It is important to seek advice from the outset, as it is far easier to establish the right structure from day one rather than unwinding one that is not fit for purpose. This is crucial for all businesses, but particularly for those with international dealings or ownership.
In New Zealand, we love trusts and in most cases they are a good option as they provide flexibility, asset protection and security for your family’s wealth. However, the taxation of trusts can get murky very quickly, especially for people leaving or moving to NZ. The tax rules that apply to trusts in these circumstances are complex. The potential for double taxation or penalty rates of tax (45%) are a very real risk. Seeking advice from the outset is critical and could be key to avoiding a hefty tax bill.
Another area we support with is NZ tax residents receiving inheritances, trust distributions or gifts from overseas. Most people consider these to be tax free windfall payments, and in a lot of cases they are. However, if you have received a gift or distribution from an overseas trust or estate, there may be tax consequences. Being proactive may enable us to provide a recommendation to structure such a gift in a tax efficient manner.
Getting in contact as early as possible will ensure we have the best chance of providing you with a tax effective recommendation, without worrying about the IRD catching up with you at a later stage.
While NZ does not have a comprehensive capital gains tax, it does have rules which tax capital gains, including certain land transactions. The land taxing rules can apply in a myriad of situations, including where you are associated with a land dealer, developer or builder, or where you are subdividing or developing your land. A zoning or similar change may also result in a tax liability, as will certain associated persons transactions.
The land taxing rules are complex and given NZ’s love of property, it is an area that is expensive to get wrong. Our tax team has a wealth of experience advising on land taxing rules and providing recommendations to minimise any tax or GST payable. This is definitely an area where it pays to get it right upfront or you run the risk of costly mistakes. For the best chance of achieving this, our advice is to get in contact as early as possible if you are contemplating a land transaction or purchase.
Our tax team can assist with all areas of GST advice. We regularly advise on issues such as land transactions, business sales, selling goods and services to non-residents, GST on imports including customs GST and digital selling, and the GST treatment of financial services and insurances.
We offer assistance to non-resident remote service providers and also non-residents who are selling low value goods to NZ consumers.