Offshore investor tax crackdown could hit firms and family trusts
Accountants have slammed the changes as costly and incoherent and say the new definition will impose considerable compliance costs.
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New Zealand companies and family trusts could find themselves deemed "offshore persons" under a new law and have to pay withholding tax on any land transaction they make.
The law’s new definition of "offshore persons" contradicts the term passed in the "bright line test" tax legislation passed
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Rob Hosking
Thu, 18 Feb 2016
Thu, 18 Feb 2016
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Offshore investor tax crackdown could hit firms and family trusts
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