Most business assets lose value over time. This loss is called depreciation. Businesses can claim depreciation loss on certain assets as a deduction each tax year.
IS 25/15 Look-through companies and disposal of residential land under the bright-line test
IS 25/15 FS Look-through companies and disposal of residential land under the bright-line test - fact sheet
This question we’ve been asked (QWBA) explains how the bright-line test and rollover relief provisions apply to transfers of residential land between associated persons on or after 1 July 2024. It considers the effect of rollover relief and sets out the criteria that need to be met for rollover relief to apply. This QWBA may be relevant in a wide range of situations as the rollover relief provisions can apply even if the bright-line test does not apply to the transferor.
QB 25/13 When is the sale of a lifestyle block excluded from the bright-line test?
QB 25/12 How does the bright-line test apply to the sale of a subdivided section?
QB 25/14 When does the business premises exclusion to the bright-line test apply?
QB 25/11 When is the bright-line start date for the 2-year bright-line test?
| Reference | Title | Closes |
|---|---|---|
| PUB00484 | The Commissioner’s duty of care and management – section 6A of the Tax Administration Act 1994 | 26 May 2025 |
| ED0259 | Tax on any fees paid to a member of a board, committee, panel, review group or task force | 28 May 2025 |
| PUB00469 | Income Tax – Whether an off-market share cancellation is made in lieu of the payment of a dividend | 03 June 2025 |
| 2025 26 work programme | Public advice and guidance work programme 2025-26 | 06 June 2025 |
| PUB00494 | Income tax – Whether money or property received by New Zealand tax residents from overseas is income from a foreign trust | 19 June 2025 |
| ED0265 | Mutual transactions of associations (including clubs and societies) | 25 June 2025 |
| PUB00496 | GST listed services rules | 27 June 2025 |
Consultations closing soon
PUB00484: The Commissioner's duty of care and management - section 6A of the Tax Administration Act 1994
Closes on 26 May 2025
Public advice and guidance work programme 2025-26
Each year the Tax Counsel Office prepares a programme of public guidance work for the following year.
If you are aware of any tax technical or interpretative issues you think we should publish guidance on, please let us know by 6 June 2025.
Before adding a suggestion to the work programme, we consider the importance of the issues involved, the level of uncertainty/ambiguity, the number of customers potentially affected, and the potential revenue implications. Any relevant information you can provide about these factors is appreciated.
Find out more about how to make a suggestion.