- New Zealand is consulting on GST reform for joint ventures as of April 7, 2025.
- The main proposal is to remove joint ventures from unincorporated body rules by default.
- Joint venture members can choose to register the venture separately for GST.
- Current rules prevent members from claiming input tax deductions if the venture is not GST-registered.
- Proposals include a default flow-through mechanism and an option for separate GST registration.
- Submissions on the proposals are due by May 16, 2025.
- Joint ventures are contractual associations for a common commercial goal.
- Joint ventures are treated as separate persons for GST purposes.
- Some joint ventures face issues with GST registration and input tax deductions.
- The consultation seeks to address these issues and reduce compliance costs.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
