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This site contains the Commissioner’s interpretation of tax law, our Work Programme for the year, and where you can provide feedback on any new work underway or apply for a binding tax interpretation. Publications on this Tax Technical website are correct at the date of issue. Read more
This site contains the Commissioner’s interpretation of tax law. Read more

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12 Jul 2024 Web page
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12 Jul 2024 Web page
How to get in touch with us for Tax Technical questions and public consultation. For general help with your IRD issues, please go to the main IRD website.

DET 24/03 Determination under section RD 11(3) of the Income Tax Act 2007 of the amount of tax for a payment of a main benefit

10 Jul 2024 Determinations / Miscellaneous / 2024
This determination, made under s RD 11(3) of the Income Tax Act 2007, sets the PAYE tax rates that apply to main benefits paid by the Ministry of Social Development.  

TDS 24/14 Interest free loan and dividends

03 Jul 2024 Technical decision summary / 2024
Income tax: capitalisation of company structure; interest free loan whether a dividend arises; withholding tax; tax avoidance

Vol 36 No 6 TIB - July 2024

01 Jul 2024 TIB / Volume 36 - 2024

Ruling

  • BR PUB 24/01 – 24/03: GST – Supplies of properties used for transitional housing

Determinations

  • NAMV 2024: National Average Market Values of Specified Livestock Determination 2024 
  • 2024 Adjustment to the kilometre rates for the business use of vehicles 
  • 2024 Adjustment to standard-cost amounts for household services (childcare, boarding services, or short-stay
    accommodation) 
  • 2024 Adjustment to the Square Metre Rate amount 
  • DET 24/02: GST on accommodation supplied through electronic marketplaces – opt-out agreement criteria 
  • S64: Spreading method to be used for some electricity price contracts for difference

Operational statement

  • OS 24/01: Exemption from electronic filing

Operational position

  • OP 24/01: Commissioner’s operational position on the GST treatment of landlords supplying properties for use as
    transitional housing

Questions we’ve been asked

  • QB 24/01: If a person has two or more homes, which home is their main home for the purpose of the main home exclusion to the bright-line test? 
  • QB 24/02: Income tax – bright-line test – main home exclusion – renting to flatmates

Technical decision summaries

  • TDS 24/09: Transfer of property and whether income arises 
  • TDS 24/10: GST registration date 
  • TDS 24/11: Permanent establishment 
  • TDS 24/12: Compensation – capital or revenue nature

FDR 2024/02 A type of attributing interest in a foreign investment fund for which a person may not use the fair dividend rate method (Colchester Multi-Strategy Global Bond Fund PLC – The Colchester Global Green Bond Enhanced Currency Fund- NZD Hedged Accumulation Class Z Shares)

01 Jul 2024 Determinations / International tax / Foreign investment funds / 2024

Any investment by a New Zealand resident investor in shares in The Colchester Global Green Bond Enhanced Currency Fund - NZD Hedged Accumulation Class Z Shares to which none of the exemptions in sections 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 ("FDR") method to calculate foreign investment fund income for the interest.

QB 24/04 FS 1 When is a subdivision project a taxable activity for GST purposes? (fact sheet)

25 Jun 2024 Questions we've been asked / 2024
This fact sheet accompanies QB 24/04, which considers when a subdivision project is an activity carried on continuously or regularly in the definition of “taxable activity” for GST purposes.

QB 24/04 When is a subdivision project a taxable activity for GST purposes?

21 Jun 2024 Questions we've been asked / 2024

This question we’ve been asked sets out when a subdivision project is an activity carried on continuously or regularly in the definition of “taxable activity” for GST purposes.  It also sets out when the sale of subdivided land is a supply made in the course or furtherance of a taxable activity.

 

Employee share schemes

17 Jun 2024 Overviews

An employee share scheme is an arrangement for issuing or transferring shares in a company to past, present and future employees. The arrangement must be connected to the person's employment or service. The employee share scheme definition includes transfers to directors or shareholder-employees in a company, the transfer of shares in a group company and transfers to associates. 

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Consultations closing soon 

PUB00480: Income tax – Overdrawn shareholder loan account balances

Closes: 2 August 2024

 

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