This question we’ve been asked clarifies the ramifications to taxpayers of making an election not to depreciate their commercial building prior to 1 April 2011.

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.

This question we’ve been asked outlines how to determine the cost price of bloodstock. It is relevant to a person who has a bloodstock breeding business.

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:

Determination EE001: Employee use of telecommunications tools and usage plans in their employment, Tax Information Bulletin Vol. 31, No. 1 (February 2020);

Determination EE002: Payments to employees for working from home costs during the COVID-19 pandemic, Tax Information Bulletin Vol. 32, No. 5 (June 2020); 

Determination EE002A: Variation to Determination EE002 - Payments to employees for working from home costs during the COVID-19 pandemic, Tax Information Bulletin Vol. 32, No. 8 (September 2020);

Determination EE002B: Payments to employees for working from home costs, Tax Information Bulletin Vol. 33, No. 3 (April 2021). 

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.

This operational statement sets out a change in the Commissioner’s approach to applying the income tax return filing exemption in s 43B of the Tax Administration Act 1994 to estates.

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.