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Hi
Welcome to the "Movember" edition of the nsaTax TaxBrief. In this issue we discuss IRD and their recent audit activity and risk reviews they are conducting of accounting firms.
For a full print version please click here.
Movember
As some of you may be aware, the month of November is Men’s Health Awareness month, otherwise known as “Movember”. This year, the blokes at nsaTax have chosen to support this worthy cause, and consequently you may notice a bit of facial hair present at meetings and seminars. If you wish to support our team during this month, please visit http://nz.movember.com/mospace/1755204/ and click on the “Donate to my Team” link to the left of the page.
 Penny & Hooper – Voluntary Disclosures Concession
IRD have been running a joint roadshow with NZICA on the implications of the Penny & Hooper case and the issue of market salaries.
IRD have stated that where a taxpayer makes a full and complete voluntary disclosure in respect of Penny & Hooper type arrangements...
 Tax Reviews Very Close To Home
For those not aware, the IRD is conducting risk reviews of accounting firms. Yes you read correctly, review of the firms and the partners affairs. The primary area being looked at are the level of shareholder salaries in light of the Penny and Hooper case and salaries to spouses.
 We’re Here to Help…
An increasingly aggressive audit approach from IRD has us musing over how much first impressions count when dealing with IRD. We reflect on how an innocent comment or error can result in things going downhill very fast and how getting it right in the initial stages of an audit or risk review is crucial.
Seminars
Just a reminder we have our Spring Seminar Series currently being held in Auckland, North Shore and Tauranga. If you wish to register please click here for Auckland and North Shore, or click here for Tauranga.
 Thank you for reading the nsaTax TaxBrief, if you have any comments or questions on the articles please feel free to contact us on 09 309 6505 or you can email nsatax@nsatax.co.nz.
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