TaxBrief Newsleter - September 2011

Hello

Welcome to the September edition of the nsaTax TaxBrief. In this issue we have an update on the Look Through Companies regime, review recent IRD audit activity and discuss the UOMI test case.

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Look Through Companies Update

We have continued discussions with Inland Revenue Policy Advice on certain aspects of the LTC owners basis calculation and are pleased to provide the following update.

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IRD Ramps up Audit Activity Calculator

The IRD has been active in relation to certain issues that it obviously sees as being troublesome.

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UOMI Test Case

We have reported on our UOMI test case from time to time in our newsletters. We are happy to announce that we have settled the test case with the IRD, and all of our clients will be entitled to the deductions that the IRD had previously refused to allow. The test case has accordingly been immensely successful.

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