New Zealand Tax Agency Seeks Comments on GST Treatment of Subdivision Projects

The New Zealand Inland Revenue Nov. 6 opened a consultation on Exposure Draft No. PUB00427, on a proposed question and answer document to clarify the GST treatment of subdivision projects. The proposed question and answer document explains that: 1) a subdivision project is a taxable activity if it is carried out regularly or continuously and it involves, or intends to involve, the supply of goods and services to another person for consideration; 2) the facts of each case should be used to determine whether a subdivision project is carried out regularly or continuously; 3) small-scale subdivisions involving the creation of ...