This Interpretation Statement considers whether a business can claim an income tax deduction for expenditure or loss incurred where the business has downscaled or stopped operating because of the COVID-19 pandemic. It also briefly considers the GST implications of these events.
Source: govt.nz
Latest Posts in "New Zealand"
- GST Traps in Settlement Payments: Lessons from Mainzeal
- GST Accounting Basis Dispute: Commissioner’s Discretion and Liquidator Notification
- New Zealand B2G E-Invoicing Rules Begin 1 January 2027
- New Zealand Introduces Motor Vehicle FBT Reform Bill
- New Zealand Court Rules Third-Party Insurance Payment Is Subject to GST
