2009 Associated Persons Rules 09 Dec 2011

Working with the 2009 Associated Persons Rules

According to the Policy AdvicThe Associated Persons rules in the Income Tax Act 2007 were amended in 2009 with a view to broadening and rationalising the rules.

According to the Policy Advice Division of Inland Revenue, the changes address a number of weaknesses in the previous definitions that posed a risk to the tax base with significant base maintenance implications in areas such as the taxation of land sales, dividends and fringe benefits.

In IRD's view, the main changes:

Parry Field has advised a number of clients on the implications of the 2009 Associated Persons rules. The following presentation gives a brief summary of some of the key implications of the changes:

Parry Field Lawyers provide legal advice on a range of tax matters and are able to assist you with any PIE tax questions or income tax and GST questions that you might have. Please contact Kris Morrison at Parry Field's Christchurch office (348 8480) for help with tax matters.

Please note that this article is not intended to be legal or investment advice, and is only intended as a general guide. Reliance should not be placed on this article where any specific issues are concerned.