Foreign investment funds – IRD forcing default calculation method to maximise collection of tax and deny taxpayers’ rights
In late 2022 the Commissioner issued a rotten Christmas present to taxpayers, asserting that when a taxpayer has FIF interests and is late filing a tax return the Commissioner gets to deny a calculation methodology specifically allowed by legislation. Bah humbug. Submissions close 10 February 2023.
Full details below and at : Foreign investment fund (FIF) default calculation method (ird.govt.nz)