Determination DET 26/03 declares the Wellington severe weather event in April 2026 is an emergency event for the purposes of family scheme income.

Cryptoassets are cryptographically secured digital representations of value that can be transferred, stored or traded electronically.  They use some form of distributed ledger technology such as blockchain.  Cryptoassets may also be referred to as cryptocurrencies, digital tokens or virtual currencies.

This question we’ve been asked considers whether a member of an unincorporated body who is registered for GST can claim input tax deductions for expenditure incurred by the unincorporated body if the unincorporated body is not itself registered for GST. It also considers whether members can claim input tax deductions for contributions they make to the unincorporated body.

This fact sheet accompanies interpretation statement IS 26/10: Income tax implications of providing sponsorship. It briefly explains the key points in IS 26/10 about when sponsorship that a business provides to an organisation, event, person or cause is deductible.

This interpretation statement considers the income tax implications for a business that provides sponsorship to an organisation, event, person or cause, where the taxpayer (the sponsor) intends that the sponsorship will promote or advertise the business.  The sponsorship may be provided in the form of money or by providing products or services.

Six appellants (four brothers and two brothers-in-law) appealed a Taxation and Charities Review Authority (Authority) decision upholding the Commissioner of Inland Revenue’s (Commissioner) assessments and imposition of evasion shortfall penalties. The appellants abandoned their appeal against the underlying income tax and Working for Families Tax Credits (WfFTC) reassessments, leaving only an appeal on whether the Commissioner had proved evasion for the purposes of s 141E.

The High Court held that the Commissioner had the onus of proving that in taking their respective tax positions, each appellant intentionally avoided the payment of income tax in circumstances where he knew he was or may be under an obligation to pay. The Judge upheld the Authority’s findings that the absence of records and implausible explanations given, meant that the evasion shortfall penalties were correctly imposed, and the appeal was dismissed.

The disputant filed a challenge proceeding against tax assessments where the disputant had failed to issue a Notice of Response (NOR) within the response period and, later, had failed to challenge the Commissioner’s refusal to treat a late NOR as having been issued within time. The disputant’s claim was struck out as the TCRA had no jurisdiction to hear the claim as the statutory preconditions for commencing a challenge were not met.

The Arrangement is a mortgage offset banking product that the Industrial and Commercial Bank of China (New Zealand) Limited offers to customers (individuals) who take out a home loan.

The Product involves “offsetting” (for interest calculation purposes) a home loan account balance (“offset portion”) against a credit balance in a Specified Account. This reduces the interest payable by a customer on their home loan balance.

This item summarises a private ruling about a sale and subdivision of land, a “lowest price” clause in the sale and purchase agreement, and whether there was any financial arrangement income or loss.