PUB00341: Payments by parents to private schools
PUB00398: Company losses – ownership continuity, sharing and measurement
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
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
TDS 22/16 Non-resident supplier – application for GST registration
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
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.
IS 22/05 FS Cash basis persons under the financial arrangements rules
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)
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 Cash basis persons under the financial arrangements rules
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)
Vol 34 No 7 TIB - August 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 22/14 GST and income tax: Liable as agent for tax obligations of a company?
Is the Taxpayer liable as agent for a company’s tax obligations under s 61 of the Goods and Services Tax Act 1985 and s HD 15 of the Income Tax Act 2007?
To be published in the September 2022 Tax Information Bulletin
Consultation # | Title | Closes |
---|---|---|
PUB00341 | Payments by parents to private schools | 26 September 2022 |
PUB00398 | Company losses – ownership continuity, sharing and measurement | 23 September 2022 |
PUB00376 | Loss carry-forward – continuity of business activities | 1 September 2022 |
Consultations closing soon
PUB00376: Loss carry-forward - continuity of business activity
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.
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.