New Tax Loss Continuity Rules 2021 - 15 April 2021 (On Demand)

Description

Historically, New Zealand had one of the most stringent regimes for carrying forward company tax losses in the world.

However, these rules are being relaxed from the 2020/2021 income year to allow companies to carry forward tax losses provided there has been no “major change” to the company’s business during the continuity period.

This webinar considers the application of what is sometimes referred to as the “same or similar” business test, including:

  • When the new business continuity rule applies, and what losses it applies to;
  • How business continuity is assessed, including what factors are relevant and what business changes can be disregarded;
  • How long a company needs to maintain the same business after a shareholding change; and
  • What anti-avoidance rules apply to ensure the new tax loss continuity rule works as intended.

ORIGINAL BROADCAST DATE

15 April 2021

LEARNING OUTCOMES

You will:

  • Understand when the business continuity rule applies to allow a company that breaches the 49% shareholder continuity test to carry forward tax losses.
  • Know the extent to which the business continuity rule can apply to old losses, and to loss companies which have been dormant before a shareholding change.
  • Learn what factors are relevant when assessing whether there has been a major change to a company’s business.
  • Know how long business continuity must be maintained after a shareholding change.
  • Learn about the anti-avoidance rules which have been introduced to ensure the business continuity test applies as intended.
  • Understand the interaction between the business continuity rule and the loss grouping rules.

SUITED TO

Accountants of all levels, tax lawyers, corporate lawyers and others who assist or advise on the sale and purchase of shares.

PRESENTER

Stephen Tomlinson, Principal, Tomlinson Law

1.5 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $215.00 excl. GST

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One-connection-one-fee

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