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Welcome to Tax Technical

This site contains the Commissioner’s interpretation of existing 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.
This site contains the Commissioner’s interpretation of existing tax law. Read more

TDS 24/07 Suppressed cash sales, GST and evasion shortfall penalties

12 Apr 2024 Technical decision summary / 2024
Income tax: Suppressed income; GST: Input tax deductions, taxable activity; TAA: Shortfall penalties.

TDS 24/06 Sale of property and the bright-line test

11 Apr 2024 Technical decision summary / 2024
Income tax: sale of properties; bright-line test

DEP 111 Horticulture LED grow light systems

05 Apr 2024 Determinations / Depreciation / General / 2024
This determination sets a depreciation rate for horticulture LED grow light systems used for indoor farming operations.

DET 24/01 Amortisation Rates for Listed Horticultural Plants

03 Apr 2024 Determinations / Miscellaneous / 2024

This Determination sets out the amortisation rates (based on diminishing values) for listed horticultural plants as determined by the Commissioner of Inland Revenue and listed in the schedule to this Determination.  The Determination is made under section 91AAB of the Tax Administration Act 1994.

The Determination applies from the 1 April 2023 and subsequent income years.  Its application may be supplemented or changed by supplementary Determinations pursuant to subsection 91AAB(4) of the Tax Administration Act 1994.

 

Vol 36 No 3 TIB - April 2024

02 Apr 2024 TIB / Volume 36 - 2024

New legislation

  • SL 2024/17 – Tax Administration (Reportable Jurisdictions for the Application of CRS Standard) Amendment Regulations 2024 

Determinations

  • NSC 2024: National standard costs for specified livestock determination 2024
  • ITR35: 2024 International tax disclosure exemption

Technical decision summary

  • TDS 24/03: Fringe Benefit Tax: discounted goods provided by third party

CFC 2024/02 Non-attributing active insurance CFC status (Tower Limited)

02 Apr 2024 Determinations / International tax / CFCs / 2024
CFC 2024/02 applies to Tower Limited and grants non-attributing active CFC status to the specified insurance CFC resident in Cook Islands. 

CFC 2024/06 Non-attributing active insurance CFC status (Tower Limited)

02 Apr 2024 Determinations / International tax / CFCs / 2024
CFC 2024/06 applies to Tower Limited and grants non-attributing active CFC status to the specified insurance CFC resident in Vanuatu. 

CFC 2024/05 Non-attributing active insurance CFC status (Tower Limited)

02 Apr 2024 Determinations / International tax / CFCs / 2024
CFC 2024/05 applies to Tower Limited and grants non-attributing active CFC status to the specified insurance CFC resident in Tonga. 

CFC 2024/01 Non-attributing active insurance CFC status (Tower Limited)

02 Apr 2024 Determinations / International tax / CFCs / 2024
CFC 2024/01 applies to Tower Limited and grants non-attributing active CFC status to the specified insurance CFC resident in American Samoa. 

CFC 2024/04 Non-attributing active insurance CFC status (Tower Limited)

02 Apr 2024 Determinations / International tax / CFCs / 2024
CFC 2024/04 applies to Tower Limited and grants non-attributing active CFC status to the specified insurance CFC resident in Samoa. 
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Consultation closing soon 

PUB00367: Income tax - Partnerships (including limited partnerships) - general guidance

Consultation closes: 24 April 2024

 

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