New Zealand Inland Revenue has issued Tax Information Bulletin - April 2022. Among other things, the Bulletin contains a series of statutory variations in relation to COVID-19. Some of the key variations are summarized as follows:
COV 22/02: Variation to section HB 13(3)(b) of the Income Tax Act 2007
For the 2021 income year, where a company makes an election to be a look-through company and s HB 13(3)(b) of the Income Tax Act 2007 applies, the deadline by which that election must be rece…