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Welcome to Tax Technical

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

TDS 24/18 Restructuring a group of companies

10 Oct 2024 Technical decision summary / 2024

The establishment of a limited partnership to hold the shares in a holding company. The long-form amalgamation of the holding company and one of its subsidiaries under Part 13 of the Companies Act 1993, with the subsidiary remaining as the amalgamated company. The distribution by the holding company of cash and shares in subsidiary companies on amalgamation as consideration for the cancellation of its shares.

 

Volume 36 No 9 TIB - October 2024

01 Oct 2024 TIB / Volume 36 - 2024

New legislation

  • LI 2024/189 Tax Administration (GST Adjustment Rules) Modification Order 2024

Rulings

  • BR Prd 24/02 and BR Prd 24/03: WorkRide Limited

Interpretation statement

  • IS 24/07: Deductions for parties to employee share schemes

Commissioner’s statement

  • CS 24/02: Withholding obligations arising in relation to transfer pricing arrangements

Question we’ve been asked

  • QB 24/5: Do supplies of standing timber and other unsevered crops wholly or partly consist of land for the compulsory zero-rating rules?

Technical decision summary

  • TDS 24/17: Deductibility of bonus payments

Case summary

  • CSUM 24/06: High Court issues a 28-day temporary halt of Commissioner’s bankruptcy proceedings pending payment of sum

IS 24/08 Charities – Business income exemption

16 Sep 2024 Interpretation statements / 2024

This interpretation statement considers what income is from a business and the extent to which business income a charitable entity derives is exempt from tax under s CW 42.

IS 24/08 FS 1 Income tax – Charities – Business income exemption - fact sheet

16 Sep 2024 Fact sheets / 2024
This fact sheet accompanies interpretation statement ‘IS 24/08: Charities – Business income exemption’. IS 24/08 provides guidance on when business income a registered charity derives is exempt from tax under s CW 42 of the Income Tax Act 2007.

Volume 36 No 8 TIB - September 2024

01 Sep 2024 TIB / Volume 36 - 2024

New legislation

  • SL 2024/154– Order in Council Double Tax Agreements (Slovak Republic) Order 2024
  • SL 2024/153 – Order in Council Double Taxation Relief (Austria) Amendment Order 2024

Legislation and determinations

  • 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

Interpretation statements

  • IS 24/05: Employer obligations for employee share scheme benefits paid in cash
  • IS 24/06: PAYE – How an employer funds the tax cost on an employee share scheme benefit

Commissioner’s statement

  • CS 24/01: Determining the “market value” of shares that an employee receives under an employee share scheme

Standard practice statements

  • SPS 24/01: Requests to change a balance date
  • SPS 24/02: Extension of time applications from customers without tax agents

Technical decision summaries

  • TDS 24/15: GST – payment for participation in religious practice
  • TDS 24/16: Look-through company election

CS 24/02 Withholding obligations arising in relation to transfer pricing arrangements

30 Aug 2024 Commissioner's statements / 2024

This Commissioner’s statement sets out the Commissioner’s position and operational approach in relation to the withholding obligations that may arise in relation to transfer pricing arrangements.

Tax Information Bulletin - Vol 36 No 9, October 2024

CSUM 24/05 High Court finds remediation work on rental property capital in nature

27 Aug 2024 Case summaries / 2024
The High Court found in favour of the Commissioner, confirming assessments made in relation to income tax returns for the years ending 31 March 2018 and 2019 disallowing deductions claimed by Mr and Mrs Lawrence (together the plaintiffs) for remediation work on their Tauranga rental property. The Commissioner considered the payments were capital in nature and made assessments on that basis. The High Court found the evidence supported the Commissioner’s position and the plaintiffs had not satisfied their onus to show the assessments were wrong and by how much.

CSUM 24/06 High Court issues a 28-day temporary halt of Commissioner’s bankruptcy proceedings pending payment of sum

26 Aug 2024 Case summaries / 2024

This was an application by Mr McGuire, the judgment debtor, to halt bankruptcy proceedings against him, brought by the Commissioner of Inland Revenue (the Commissioner) on 1 March 2023.

Tax Information Bulletin - Vol 36 No 9, October 2024

IS 24/07 Deductions for parties to employee share schemes

22 Aug 2024 Interpretation statements / 2024

This interpretation statement considers what deductions employers can claim for income tax in relation to employee share schemes. It explains the need to satisfy the general permission and when the capital limitation might apply.

Tax Information Bulletin - Vol 36 No 9, October 2024

Trusts

20 Aug 2024 Overviews

A trust is a creation of the law of equity and is not a legal entity distinct from its trustee. Instead, a trust is a fiduciary relationship where a trustee holds property for the benefit of beneficiaries or, where the trust is a charitable trust, for the specified charitable purposes. Although the trustee has legal ownership of the trust property, they hold it subject to the beneficial interests of the beneficiaries and must act in accordance with the terms of the trust and the Trusts Act 2019.

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Consultations closing soon 

The Commissioner of Inland Revenue's search powers and Section 17B Notices

Closes: 18 October 2024

Special Report - Tax Administration (GST Adjustment Rules) Modification Order 2024 

This special report on our Tax Policy site provides early information about a modification made by Order in Council to the GST adjustment rules.

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