QB 21/05 The application date for the depreciation of commercial buildings

22 Jun 2021 Questions we've been asked
This question we’ve been asked clarifies when the new rules providing for the depreciation of commercial buildings apply from.

QB 21/06 Income tax - tax treatment of cryptoassets received from an airdrop

18 Jun 2021 Questions we've been asked

The use of cryptoassets and distributed ledger technology (e.g. blockchain) is becoming increasingly common. As a result, Inland Revenue has been asked to clarify the tax treatment of various types of cryptoasset transactions and arrangements. These items address the income tax consequences of receiving cryptoassets from an airdrop.

QB 21/07 Income tax - tax treatment of cryptoassets received from a hard fork

18 Jun 2021 Questions we've been asked

The use of cryptoassets and distributed ledger technology (e.g. blockchain) is becoming increasingly common. As a result, Inland Revenue has been asked to clarify the tax treatment of various types of cryptoasset transactions and arrangements. These items address the income tax consequences of receiving cryptoassets from a hard fork.

PUB00391: If I run a hotel, motel or boarding house and live on site, what expenditure can I claim?

17 Jun 2021 Web page
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.

BR Pub 21/03 Goods and Services Tax - Debt factoring arrangements

17 Jun 2021 Rulings

This public ruling considers whether a GST input tax deduction can be claimed for a bad debt write-off when a debt is factored.  The ruling replaces BR Pub 06/01.

BR Pub 06/01 Withdrawal notice

LI 2021/154 FIF deemed rate of return set for 2020-2021

14 Jun 2021 New legislation
The deemed rate of return for taxing foreign investment fund interests is 4.43% for the 2020-2021 income year, down from the previous year’s rate of 5.05%.

OS 21/01 Income tax treatment of accommodation provided to employees

10 Jun 2021 Operational statements
This statement is intended to clarify and simplify the tax rules around employer-provided accommodation.

ED0231: Excusing Estates from filing income tax returns

08 Jun 2021 Web page
This 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.

Welcome to our new home page

02 Jun 2021 Web page

Following user feedback, we now present our most up to date content on this page. Newest items are front and centre, or you can click the Current consultations tab to have your say on our public advice and guidance drafts.

CSUM 21/06 Court orders the backdating of child support liability is invalid

02 Jun 2021 Case summaries
This is a judicial review proceeding in which Mr Lindsay challenged the Commissioner of Inland Revenue’s (the Commissioner) decision requiring him to pay child support dating back to 2003.
Cooke J upheld Mr Lindsay’s judicial review challenge, making a declaration that the child support assessment of the Commissioner dated 23 November 2017 is invalid to the extent that it imposed backdated liability to 2003.
Cooke J also awarded scale costs against the Commissioner with an uplift of 10%.
More
Consultation # Title  Deadline
 PUB00391  Apportioning expenditure for motels and hotels  30 July 2021
 ED0231  Excusing estates from filing income tax returns  7 July 2021
 PUB00390  GST - definition of a resident  9 July 2021
 PUB00376  Loss carry-forward – continuity of business activities  28 June 2021