Master the tax considerations needed to enable you to give suitable advice to your business and commercial clients. Gain clarity of tax structuring and compliance concerns including the tax consequences of different corporate structures, closely held companies, employment settlement agreements and the criminal implications of certain tax actions. Take a deep dive into tax related considerations of debt issuances, remissions, assignments and restructures. Gain an understanding of residency rules and IRD registration. Expert guidance from top professionals that every solicitor advising business and commercial entities requires.
Description
Attend and earn 3 CPD hours
3.00pm to 4.00pm Essential Tax Guides to Residency, Establishments, and IRD Registration
- Who is a New Zealand tax resident? The 183-day rule
- A permanent place of abode in New Zealand: the circumstances and what to consider
- Double tax agreements (DTAs)
- Becoming a non-resident: the 325-day rule
- Paying tax as a resident
- Temporary tax exemption on foreign income
- Qualifying for the exemption
- Foreign income exempts from tax in New Zealand
Presented by Mary Nelson, Barrister. Crawford Nelson Law
4.00pm to 4.15pm Afternoon Tea
2.00pm to 3.00pm Tax Compliance Issues for Small Businesses
- Different ways of deriving money from corporate structures, and tax consequences
- Issues around loans to/from closely-held companies, “deemed dividends”
- Tax issues in employment settlements
- Criminal consequences for non-payment of PAYE
Presented by Mike Lennard, Barrister, Stout Street Chambers
4.15pm to 5.15pm Tax Related Considerations of Debt Issuances, Remissions, Assignments and Restructures
- RWT on term loan agreements and when they apply and when they don’t apply
- Forgiveness of debt in Relationship Property Agreements and when debt remission income can arise
- Tax issues with shareholder current accounts and how they are treated on the sale of businesses or shares
- Forgiveness of debt and when it may or may not be appropriate
Presented by Sam Khalesi, Director, Gibbs Mills Livingstone Lawyers and Andrew Gibbin-Price, Director, Chartered Accountant, AP Partners
Learning Objectives:
- Master tax considerations on debt issuance, remission, forgiveness and RWT application
- Learn to tax consequences of business structures, deemed dividends and employment settlements
- Gain clarity on company residency rules, permanent establishments and IRD registration processes
Chair:
James Coleman, Barrister, Capital Chambers
Presenters
James Coleman, Barrister, Capital Chambers
James is a specialist tax barrister practicing in Wellington. He has over 20 year experience in tax litigation and has appeared many times in the Privy Council, Supreme Court and Court of Appeal. He is the author of tax avoidance law in New Zealand and teaches a unit at the University of Auckland taxation master's programme.
Mary Nelson, Barrister. Crawford Nelson Law
Mary Nelson was admitted to the bar in 2008. As a lawyer she specialises in representing businesses, trusts, partnerships and individual taxpayers who have found themselves in the awkward position of disputing unpaid tax and penalties with the Inland Revenue Department. Mary works with a team of trusted experts including accountants and other advisors in the tax arena. Her approach is to take over all communications and negotiations with the IRD, to remove stress from her clients while representing their best interests. Anti-Money Laundering laws are another area where individuals and businesses can inadvertently find themselves in legal jeopardy. Mary and her team are experts in assessing, auditing and ensuring compliance with AML/CFT regulations.
Sam Khalesi, Director, Gibbs Mills Livingstone Lawyers
Sam joined GML Lawyers in early 2019 having qualified in 2004. Sam focuses on business law, commercial matters, property, private client and taxation matters. His breadth of experience means he can competently deal with all types of legal work whether simple or complex, which means clients are always in safe hands.
Mike Lennard, Barrister, Stout Street Chambers
Mike is a litigation lawyer, specialising in tax and civil cases. His career to date has involved eight years’ practice as a Crown prosecutor and civil litigation lawyer, then eight years as head of litigation for Inland Revenue, and practice at the independent bar since June 2004. Mike’s practice includes intellectual property, competition law, professional negligence, constructive trust and relationship property litigation. He has a particular interest in financial regulatory and criminal issues, including cases under the Criminal Proceeds (Recovery) Act 2009, money laundering and administration of the AML/CFT legislation.
Andrew Gibbin-Price, Director, Chartered Accountant, AP Partners
Andrew has over 20 years’ experience in accounting and tax advisory services. He has worked with clients in a wide variety of industries including financial services, banking, primary, insurance and infrastructure. As a chartered account he focuses on tax from both an accounting and legal perspective. In addition to accounting and tax compliance and advisory services he also provides AML advisory and audit services.
