Send us your feedback on these public rulings which consider the application of GST in relation to the payment of fees.

Send us your feedback on this issues paper, which considers when and how the government grant provisions in the Income Tax Act 2007 may apply to grants and subsidies received by businesses.

Send us your feedback on this item, which sets out when a close company can deduct interest payable on a shareholder advance in its tax return where the exact amount is not known until after balance date (usually 31 March).

Send us your feedback on this item, which considers whether income tax deductions can be claimed for overseas travel costs (other than meal costs). It also covers how to apportion costs when only part of the total amount incurred is deductible.

New legislation

• LI2022/97 – Order in Council - Taxation (Use of Money Interest Rates) Amendment Regulations 2022
• LI2022/98 – Order in Council - Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations 2022
• LI2022/151 – Order in Council - Income Tax (Deemed rate of return on Attributing Interests in Foreign Investment Funds, 2021–22 Income Year) Order 2022

Determination

• NAMV 2022: National Average Market Values of Specified Livestock Determination

Rulings

• BR Pub 22/06: FBT - Charitable and Other Donee Organisations and Fringe Benefit Tax
• BR Pub 22/07: Goods and Services Tax – Importers and input tax deductions
• BR Pub 06/03: Withdrawal notice

Questions we’ve been asked

• QB 22/03: GST – Customs brokers and GST levied by Customs
• QB 22/04: GST – Importers and recalculated GST

Operational statement

• OS 19/04 (KM 2022): Kilometre rates for the business use of vehicles for the 2022 income year

Technical decision summaries

• TDS 22/05: Whether weathertightness payments by the Crown are subject to GST
• TDS 22/07: Income tax, controlled foreign company, double tax agreement, shortfall penalties

This variation provides extra time to file the statements required by section 70C of the Tax Administration Act 1994, in relation to R&D loss tax credits, when the statements were unable to be filed on-time due to COVID-19 response measures or as a consequence of COVID-19.

Send us your feedback on this interpretation statement, which explains when a person can account for income and expenditure from financial arrangements on a cash basis instead of an accrual basis. 

The deemed rate of return for taxing foreign investment fund interests is 6.01% for the 2021-2022 income year, up from the previous year’s rate of 4.43%.

This question we’ve been asked discusses the GST treatment of garbage disposal, lighting and security, aircraft parking and terminal services that airport operators supply to international airline operators.

To be published in the August 2022 Tax Information Bulletin

Income Tax:  Whether the Taxpayer is entitled to a “negative income” adjustment as a consequential adjustment to avoid double taxation.  Whether the time bar applies.  Whether the Taxpayer is entitled to the resident withholding tax (RWT) credit it claimed.  Whether the net loss amount should be adjusted.

To be published in the August 2022 Tax Information Bulletin

Find out more about Technical Decision Summaries