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  2023

ANZAC Rivalries: efficient use of tax paid in trans-Tasman dealings

Source: QLD

Published Date: 16 Feb 2023

 

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Trans-Tasman business dealings are common. However, whether a credit or offset is available for tax paid in the other jurisdiction can, if wrong decisions are made, result in a tax outcome more unpleasant than the morning after a Bledisloe Cup defeat.

This paper will examine:

  • For Australian taxpayers doing business in New Zealand:
    • NZ income-taxes applying to general business income
    • When to declare such income in Australia
    • How to claim FITO/exemption on these NZ taxes paid, in Australia
    • Different outcomes, based upon the type of structure used including Trans-Tasman imputation, and
  • For New Zealand taxpayers doing business in Australia, addressing the same concerns. That is, how to effectively use Australian taxes paid, as a credit in New Zealand.
Author(s)

Individual Session

Author(s): Ryan Watt , Mark Reynolds CTA
Materials from this session:

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