NEW ZEALAND'S LOOK-THROUGH COMPANY REGIME AND COMPLIANCE COSTS: THROUGH THE EYES OF THE PRACTITIONER.

New Zealand's tax regime is distinct in offering a specific entity targeted towards closely held companies, the look-through company ('LTC'). One of the stated policy intents of the LTC regime is reducing compliance costs. This research sought the views of tax practitioners as to uses for the LTC regime, advantages of the LTC regime, disadvantages of the LTC regime and the complexity of the LTC regime. Notably, practitioners viewed the LTC regime as being complex and giving rise to increased compliance costs for those that use the regime. Part of this complexity arose from the now repealed loss/deduction limitation rule, however, other drivers of complexity still exist. To this end, further overhauls are recommended. [ABSTRACT FROM AUTHOR]