Tax

• tax disputes,
• financing arrangements and securitisations,
• inbound and outbound investments,
• cross-border supply and service arrangements,
• insolvency and work-outs,
• employee remuneration arrangements and superannuation,
• the establishment and management of investment funds (including "PIE" funds and New Zealand limited partnerships), and
• land transactions.

We collaborate with our litigation and tax specialists to provide comprehensive and balanced guidance in the management of tax disputes with the Inland Revenue Department (IRD) and other revenue authorities. The team provides expert court advocacy in first instance and appellate levels. We provide assistance at all points of interaction with a revenue authority, including audit and investigation, the disputes procedure and litigation.
The team also provides advice and assistance on:

• immigration, and
• personal asset planning, trusts and estate management.

Goods and services tax

Bell Gully is the only New Zealand law firm with a team dedicated to GST. We have advised on every aspect of GST in virtually every industry. We are regularly called on to provide second opinions for other advisors' clients and we provide expert evidence in disputes at all levels of our courts.

We advise, draft and review GST-related clauses in all types of contracts and agreements for both on and offshore clients. We have excellent working relationships with advisors outside New Zealand and regularly work with them on a collaborative basis. We have assisted clients, foreign firms and tax regulators in foreign jurisdictions when those countries have implemented taxes similar to New Zealand's GST.

The firm has also successfully lobbied for GST law changes in many areas including the air transport industry, the oil and gas industry, telecommunications and the bloodstock industry.

Crown Fibre Holdings ultra-fast broadband initiative
Advised Crown Fibre Holdings, a government owned investment vehicle, on the tax aspects of the government's ultra-fast broadband initiative. The initiative included the investment by Crown Fibre Holdings of up to NZ$929 million of complex debt and equity instruments in Chorus.

Parininihi ki Waitotara Incorporation restructuring
Advising Parininihi ki Waitotara Incorporation, one of New Zealand's major corporate dairy farmers, in relation to the restructuring of its corporate structure.

Soho Property Limited land protection agreement
Advising Soho Property on all tax and legal matters relating to the establishment of New Zealand’s largest ever private land protection covenants, which extend to 53,000 ha of New Zealand’s alpine region creating one of the largest public walking access areas in New Zealand.

Optional Convertible Notes (OCN) funding arrangements
Advising a number of Australian listed companies on a dispute with the Inland Revenue Department over the use of OCNs to fund investments in New Zealand subsidiaries involving allegations of "tax avoidance”. Including representing Alesco New Zealand in what has become the test case regarding the use of OCNs in the High Court and Court of Appeal. Leave was granted to appeal to the Supreme Court but the case was resolved between the parties before that hearing.

Charitable entities
Advising a number of charitable entities on disputes with the Inland Revenue Department and Department of Internal Affairs in connection with their status as tax-exempt charitable entities.

FATCA advice
Advised one of New Zealand’s largest listed companies on the FATCA status of captive treasury companies. This work involved consideration of the relationship between the New Zealand Intergovernmental Agreement and the US Treasury Regulations, and the ability to choose between those two sets of rules to achieve a desirable outcome for the client.

Tax disputes and litigation

Alesco New Zealand Limited v Commissioner of Inland Revenue
Acted for the taxpayer in a test case in High Court and Court of Appeal litigation addressing the issue of whether funding arrangements entered into by the taxpayer involving Optional Convertible Notes constituted tax avoidance arrangements.

Sovereign Assurance Company Limited v Commissioner of Inland Revenue
Acted for the taxpayer in High Court and Court of Appeal challenge to the Commissioner’s disallowance of deductions claimed in respect of commission repayments made under life reinsurance treaties with foreign reinsurers.

Good and services tax:

Freight of goods contracts
Advising international freight companies on GST effective arrangements for the transportation of goods within New Zealand as part of their freight of goods contracts.

Leasing
Advising non-resident land owning companies on the GST implications of leases to New Zealand lessees and in relation to the availability of input tax credits on the acquisition of land.

Cross-border GST implications
Advising offshore digital content providers in respect of cross-border GST implications of sales to New Zealand customers in light of the proposal to tax, cross-border services.

Securitisations
Providing advice on GST aspects of securitisations.

Hospital service providers
Advising on GST considerations to be taken into account by providers of hospital services when deciding whether to buy or lease equipment.

Mixed use assets
Advising on the GST aspects of mixed use assets, with a particular emphasis on land.

Oil and gas industry
Advising on GST associated with the oil and gas industry including how GST is to be accounted for by joint ventures and on the export of the product by offshore buyers wishing to undertake the export of the product themselves.

IPOs and capital raising programmes
Advising on services provided by merchant banks in connection with initial public offerings (IPOs) and capital raising programmes.

PHARMAC tax audit
Advising PHARMAC on the GST consequences of various rebate payments, subsidies and money flows that move between pharmaceutical providers, wholesalers, District Health Boards, PHARMAC, community pharmacies and other related bodies.

"The Bell Gully team provides an exceptional service. All advice is of a high quality and commercial. The Tax Team is exceptionally strong with a wealth of litigation experience with the revenue authority."

The Legal 500 Asia Pacific 2024 - Tier 1

"Bell Gully is incredibly professional and their subject matter experts in the area of taxation is technically very strong and capable. I am particularly impressed by their degree of integration/collaboration with their colleagues responsible for advising in other areas."

The Legal 500 Asia Pacific 2022 - Tier 1

"Bell Gully is excellent to work with. They are our go to for New Zealand legal issues on complex topics, including cutting edge emerging technologies."

The Legal 500 Asia Pacific 2022 - Tier 1