FDR 2021/03 A type of attributing interest in a foreign investment fund for which a person may not use the fair dividend rate method (The Daintree Core Income Trust – New Zealand Dollar class of units)
Any investment by a New Zealand resident investor in the NZD class units of the Daintree Core Income Trust, to which none of the exemptions in section EX 29 to 43 of the Income Tax Act 2007 apply, is a type of attributing interest for which the investor may not use the fair dividend rate method to calculate foreign investment fund income from the interest.
IS 21/07 GST - Definition of a resident
This interpretation statement provides guidance on how to determine whether a person is a resident for GST purposes.
This draft approval approves sources for foreign exchange rates that may be used by any person who is required to convert a foreign currency amount into its New Zealand Dollar (NZD) equivalent for the purposes of determining their tax liability, unless the Act requires otherwise.
Over the past two years, the Commissioner has published several determinations that deal with the additional expenditure that employees may face when they work from home and/or use their personal telecommunications tools and usage plans in their employment.
Determination EE003 applies for the period 1 October 2021 until 31 March 2023 and sets out the extent to which a payment made by an employer to an employee in these circumstances is able to be treated as exempt income to the employee. In order to make it easier for employers and employees to locate the information that they may require, this determination amalgamates and replaces all previous determinations that have been published on this topic.
From 1 October 2021, this determination replaces:
This question we’ve been asked provides guidance on the deductibility of expenses commonly incurred by hotel, motel and boarding house proprietors who live on site, particularly where the expenses have both a business and private character.
Vol 33 No 8 TIB - September 2021
Order in Council – LI 2021/194 – Tax Administration (Top of the South Island Flood Event) Order 2021; BR Prd 21/04: StockCo Limited and StockCo Capital Limited; Notice of Withdrawal of Product Ruling BR Prd 20/03; CSUM 21/07 – Supreme Court dismisses Mr Dowden’s Application for Leave to Appeal the court of Appeal’s Refusal to Extend Time to Appeal; CSUM 21/08 – Supreme Court dismisses Ms Sisson’s applications for leave to appeal
This interpretation statement explains how to calculate a foreign tax credit under subpart LJ of the Income Tax Act 2007.
The Supreme Court applied an orthodox approach to this leave application. There is no further impact beyond the immediate case. The decision puts an end to a longstanding tax challenge that has progressed from the Taxation Review Authority, the High Court, the Court of Appeal and finally to the Supreme Court.
|PUB00401||Foreign exchange rates||11 October 2021|
|PUB00370||28 September 2021|