- GST Treatment for Joint Ventures: The government is considering reforms to GST policy for unincorporated joint ventures, allowing members to individually account for GST on supplies made and received, rather than registering the joint venture itself.
- Optional Single Entity Registration: Members of a joint venture carrying on a taxable activity can elect to register the joint venture as a single entity for GST purposes, simplifying compliance and administration.
- Zero-Rating Business-to-Business Supplies: The proposal includes zero-rating business-to-business supplies of interests in joint venture property, aiming to reduce cash flow issues and fiscal risks associated with high-value transactions.
Source Taxpolicy.ird.govt.nz
