Inside this edition : GST on foreign supplies..................................... 1 Changes to closely held company tax rules......... 2 Doing your own Due Diligence............................ 3 Fit staff / Fit business.......................................... 3 Further cuts to ACC levies..................................... 4 The Jedi Society Incorporated................................ 4 All information in this newsletter is to the best of the authors' knowledge true and

ISSUE 4: NOVEMBER 2015 – JANUARY 2016 Inland Revenue scrutiny In the past, an IRD audit could be commenced for no other reason than the business had not been audited in recent years. Audits would start with the stereotypical interview comprising a series of broad questions that may or may not apply to the business, before the investigator would commence trawling through invoices looking to see if everything is in order. More recently, the IRD have started using a variety of t