New Zealand: Tax legislation, closely held companies | KPMG | GLOBAL
Share with your friends

New Zealand: Update on tax legislation, closely held companies

New Zealand: Tax legislation, closely held companies

Pending legislation in New Zealand would revise certain tax rules concerning closely held companies.


Related content

The bill was reported back from the Finance and Expenditure Select Committee with recommendations that would:

  • Leave the “approved issuer levy” eligibility requirements unchanged
  • Propose to allow an “approved issuer levy” only if the New Zealand borrower or foreign lender are financial institutions or widely held companies and if interest payable to non-residents satisfied a threshold amount
  • Include an intention test for back-to-back loans
  • Revise the related-party debt remission rules

The legislation is pending final approval and enactment.


Read a November 2016 report [PDF 583 KB] prepared by the KPMG member firm in New Zealand: May Tax Bill reported back

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal