- GST Act in New Zealand can be complex
- GST grouping can reduce compliance costs for businesses
- Intra-group supplies are disregarded in a GST group
- Helps solve technical issues with costs and invoices
- Allows multinational groups to claim back GST on costs
- Inland Revenue has released comprehensive guidance on GST grouping rules
- Interpretation Statements 24/02 and 24/03 provide useful examples and scenarios
- Group members become jointly and severally liable for tax owing
- Commissioner has discretion to excuse group members from liability in certain circumstances
Source: taxathand.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "New Zealand"
- New Zealand’s Phased E-Invoicing Rollout: Government-Led, Peppol Standard, Mandatory for Large Suppliers 2027
- New Zealand’s Phased E-Invoicing Rollout: Peppol Standard, Government-Led, Mandatory for Large B2G Suppliers 2027
- Briefing Document & Podcast: E-Invoicing and E-Reporting in New Zealand
- New Zealand GST Rules for Foreign Digital Service Providers and Online Marketplaces
- New Zealand GST Rules for Short-Stay Accommodation: Key Points and Compliance Guide for Hosts
