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PUB00398: Company losses – ownership continuity, sharing and measurement

11 Aug 2022 Web page

Send us your feedback on this draft interpretation statement which considers company losses – ownership continuity, sharing and measurement.

 

 

TDS 22/15 Deductibility of depreciation and expenses

03 Aug 2022 Technical decision summary / 2022

Income Tax: Deductions for expenses and depreciation; quantum of losses carried forward; depreciation of pooled assets. Tax Administration Act 1994: Deemed acceptance.

To be published in the September 2022 Tax Information Bulletin

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TDS 22/16 Non-resident supplier – application for GST registration

03 Aug 2022 Technical decision summary / 2022

GST: Non-resident application; whether registered for overseas consumption tax or carrying on a taxable activity that if carried out in New Zealand would render the person liable to be registered for GST; whether making or intending to make taxable supplies in New Zealand; whether making or intending to make a supply in New Zealand.

To be published in the September 2022 Tax Information Bulletin

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FDR 2022/01 A type of attributing interest in a foreign investment fund for which a person may use the fair dividend rate method (Units in the Two Trees Global Equity Macro Fund - Class Z)

01 Aug 2022 Determinations / International tax / Foreign investment funds / 2022

Any investment by a New Zealand resident investor in units in the Two Trees Global Equity Macro Fund – Class Z, 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 use the Fair Dividend Rate method to calculate Foreign Investment Fund income for the interest.

QB 22/02 FS Income tax - Donations – what is required to establish and maintain a “public fund” under s LD 3(2)(d) of the Income Tax Act 2007?

26 Jul 2022 Fact sheets / 2022

This fact sheet summarises the key conclusions reached in QB 22/02, including who can establish a “public fund”, what is a “public fund”, and how to establish and maintain one.

See QB 22/02: Donations – what is required to establish and maintain a “public fund” under s LD 3(2)(d) of the Income Tax Act 2007? (question we've been asked)

Related documents

For more information on donations tax credits and deductions for gifts to donee organisations, see:

IS 22/05 FS Cash basis persons under the financial arrangements rules

26 Jul 2022 Fact sheets / 2022

This fact sheet accompanies interpretation statement IS 22/05 which explains when a person can account for income and expenditure from financial arrangements on a cash basis instead of an accrual basis.  The statement also sets out the adjustment that must usually be made when a person ceases to be a cash basis person and must account for their financial arrangements using the accrual basis.

Related item

IS 22/05: Cash basis persons under the financial arrangements rules (interpretation statement)

IS 22/05 Cash basis persons under the financial arrangements rules

26 Jul 2022 Interpretation statements / 2022

This interpretation statement explains when a person can account for income and expenditure from financial arrangements on a cash basis instead of an accrual basis.  It also sets out the adjustment that must usually be made when a person ceases to be a cash basis person and must account for their financial arrangements using the accrual basis. This statement is accompanied by a fact sheet.

Related item

IS 22/05 FS: Cash basis persons under the financial arrangements rules (fact sheet)

 

TDS 22/14 Liable as agent for tax obligations of a company

25 Jul 2022 Technical decision summary / 2022

GST and income tax: Liable as agent for tax obligations of a company.

To be published in the September 2022 Tax Information Bulletin

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Vol 34 No 7 TIB - August 2022

25 Jul 2022 TIB / Volume 34 - 2022

New legislation

  • Taxation (Cost of Living Payments) Act 2022

Determination

  • COV 22/18: Variation in relation to s 70C of the Tax Administration Act 1994 to extend deadline for filing statements in relation to R & D loss tax credits
  • COV 22/19: Variation to section 68CB(2) of the Tax Administration Act 1994

Operational statement

  • OS 22/03: Authority to Act for Tax Agents and other Intermediaries and Nominated Persons

Interpretation statement

  • IS 22/03: Income tax – Application of the land sale rules to co-ownership changes and changes of trustees

Questions we’ve been asked

  • QB 22/05: GST – Does zero-rating apply to certain services that airport operators supply to international airline operators?

Technical decision summaries

  • TDS 22/08: Quantum of suppressed income and whether it is dividend or employment income
  • TDS 22/09: GST: Private recreational pursuit or hobby, taxable activity
  • TDS 22/10: GST – Whether property sale is zero-rated. Time bar.
  • TDS 22/11: “Negative income” adjustment, RWT credit, time bar
  • TDS 22/12: “Negative income” adjustment – Shortfall penalties

TDS 22/13 Whether portable units are exempt supplies of accommodation in a dwelling

22 Jul 2022 Technical decision summary / 2022

GST - exempt supplies of accommodation in a dwelling.

To be published in the September 2022 Tax Information Bulletin

Find out more about technical decision summaries

More
Consultation # Title  Closes
 PUB00398  Company losses – ownership continuity, sharing and measurement  23 September 2022
 PUB00376  Loss carry-forward – continuity of business activities  1 September 2022
 PUB00424  Goods and Services Tax – Directors’ Fees 17 August 2022

Consultations closing soon

PUB00424: Goods and Services Tax - Directors' Fees

Closes 17 August 

Public Statements Service customer survey

In October 2021, Public Rulings and Technical Standards ran a customer survey to identify levels of customer satisfaction and to invite comments on ways in which we can improve our products and services.

Read the survey report

COVID-19 variation determinations

We have published a number of determinations that recognise the impact of COVID-19 on taxpayers and their ability to comply within timeframes.

See COVID-19 variations.