Temporary relief from certain compliance requirements
The Government has reinstated the temporary compliance relief measures contained in the COVID-19 Response (Requirements For Entities—Modifications and Exemptions) Act 2020, which expired earlier this year.
The temporary legislation takes effect from 3 November 2021 and allows registered entities affected by COVID-19 restrictions to make certain changes to their constitutions or rules, and to carry out certain tasks electronically. It also enables the Registrar to grant exemptions from compliance obligations, where appropriate.
Land Purchase - When Not to Claim GST
Do not claim GST on residential land purchased unless you are sure you are going to sell it. If you do claim GST and convert to a rental, the sale of the property will always be subject to income tax even if you sell it to an associated entity in the meantime. By claiming the GST you are notifying IRD that you purchased the property with an intention of resale.
Source: Tax-e-mail Issue 2201