New Zealand Inland Revenue Consulting on Draft Guidance on GST Treatment of Arranging and Brokering Financial Products

New Zealand Inland Revenue has published a draft interpretation statement for consultation, GST – Arranging and brokering financial products. The interpretation statement provides guidance about the circumstances in which intermediaries or brokers involved in the supply of financial products will make an exempt supply of financial services for GST purposes by arranging (rather than advising on) any financial services. Activities that amount to advising are excluded from exemption. The statem…