The Student Master Tax Guide provides students with a straightforward approach to New Zealand tax law that includes practical examples and concise summaries of legislation, cases and Inland Revenue rulings affecting the 20201/22and future tax years. The commentary is concise and easy to read.

Some of the more significant changes covered include:

• substantial reform of the interest deductibility changes for residential rental properties
• extending the bright-line test from five years to ten years and changes to the main home exemption
• a new set of rules governing purchase price allocations for sale and purchase agreements
• various COVID-19 relief measures
• expansion of the “regular pattern” restrictions in the main home, residential and business premises exclusions
• changes to the minimum family tax credit threshold for the 2021–22 and later tax years
• clarifying the deductibility of the cost of revenue account property
• the new business continuity test for carrying forward losses.