- 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.
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