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Tax Advisory Services
We specialise in providing expert tax advice across a wide range of tax legislation, with extensive experience handling property tax advice and matters involving Inland Revenue such as investigations, debt recovery and audits. Our award-winning tax expert has a double degree in Law and Commerce and has worked in both a “Big 4” accounting firm and tax law firms, so we fully grasp the ramifications of our recommendations, prioritising practical and commercially viable solutions for personal, businesses and trusts.
Property Tax
While New Zealand doesn’t have a comprehensive capital gains tax, the sale of land is one area which has specific capital gains tax laws.
Most people are aware of the "bright-line test" which will tax properties purchased and sold within certain periods of time. While that sounds simple - the complexities added by the Labour Government mean this is far from simple. The new bright-line tax period has simplified a lot of these issues for any properties sold after their implementation. What people often do not realise is that the bright-line test is only a backup tax. There is an entire body of tax law which was enacted to tax a wide range of other transactions involving the sale of land. GST on the sale of properties is also a highly complicated area of law and contributes to many professional indemnity insurance claims for conveyancing lawyers every year.
Inland Revenue has a “property compliance team” which is dedicated to investigating whether the correct tax (both GST and income tax) has been paid in relation to land and property transactions. With the requirement to provide an IRD number at settlement, Inland Revenue knows about every property transaction in New Zealand faster than ever before.
These are all very common transactions, but if not dealt with correctly, can have very nasty tax consequences. We are experts in New Zealand tax, and the taxing provisions of property and we are able to assist you with specialist tax advice in relation to all aspects connected with property. Julia has extensive experience working with large corporate property groups, developers, construction companies, property investors and individuals to ensure this complex area of tax law is dealt with correctly and tax efficiently.
Dealing with IRD
Inland Revenue have received significant funding of over $100 million to bolster its capabilities with debt recovery, investigations and audits for non-compliance and the cash economy. Inland Revenue now have larger dedicated teams across the country to investigate taxpayers’ affairs and confirm they are compliant with their tax obligations as well as paying any overdue taxes. Dealing with IRD during the debt collection process, risk reviews, investigations and audits can be time-consuming and stressful.
We specialise in helping clients manage and resolve their tax obligations and can assess your situation, negotiate with IRD, explore financial assistance options, and help implement strategies to assist with ongoing tax compliance. Our intricate knowledge of Inland Revenue's policies and procedures assist us to assist you. Inland Revenue are very process-driven and a pro-active approach is always recommended. Our goal is to resolve any issues with Inland Revenue promptly, allowing them to finalise their involvement and move on. In our experience, the longer a tax investigation or debt recovery action drags on, the harder it can be to resolve.
"Julia has been an absolute lifesaver! For the past few years, she has helped me navigate my complex tax situation between two countries, and dealt with IRD on my behalf.
She is not only incredibly skilled, detail-oriented and has my best interests at heart, but is also an absolute pleasure to work with! I really appreciate Julia’s positivity and kindness, espially when tackling these very personal, challenging topics."
Léonie Mollet
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