Income Tax Act 2007: CW 42, exempt income; Subpart MX, R&D credits.

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This statement outlines the tax treatment and obligations that apply to charities and donee organisations and how the Commissioner will apply the relevant legislation. 

This operational statement discusses and provides guidance on the approach to take with regards to a non-resident employers’ obligations to deduct PAYE, FBT and ESCT in certain cross-border employment situations.

This draft operational statement explains the procedures Inland Revenue will follow when issuing notices under the recently enacted provision that authorises the Commissioner to issue a notice to obtain information to support the development of tax policy.

This fact sheet accompanies IS 21/06: Income tax and GST - Treatment of meal expenses. The statement covers the income tax and GST treatment of meal expenses incurred by self-employed people.

See:

• IS 21/06: Income tax and GST - Treatment of meal expenses (interpretation statement)

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New Legislation

• The COVID-19 Resurgence Support Payments Scheme (August 2021) Amendment Order (No 4) 2021
• The COVID-19 Resurgence Support Payments Scheme (August 2021) Amendment Order (No 5) 2021

Ruling

BR Prd 21/06: Kiwibank Limited

Determination

COV 21/05: Variation to section 68CC(3) of the Tax Administration Act 1994

Legal decisions - case summaries

CSUM 21/10 - Land development - tax evasion

Technical decision summaries

• TDS 21/01: GST: Non-profit body claiming input tax deductions
• TDS 21/02: GST – Eligibility to input tax deductions
• TDS 21/03: Liability for shortfall penalties
• TDS 21/04: GST – Undisclosed cash sales and liability for shortfall penalties

The Taxation Review Authority (the “TRA”) upheld the Commissioner’s assessments for tax on unreported income and shortfall penalties for evasion.

The TRA concluded that the income from land sales in the disputed transactions was income under s CB 3 of the Income Tax Act 2007 (“ITA”) or alternatively income under s CB 1 of the ITA. The TRA also concluded that the disputant was liable for a shortfall penalty for evasion, finding he dishonestly and systematically evaded tax and attempted to avoid the consequences of his deception.

Tax Information Bulletin - December 2021

Goods and services tax: input tax deductions, taxable activity; Tax Administration Act 1994: shortfall penalties.

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This question we’ve been asked explains when a person registered for GST on a payments basis can claim an input tax deduction for goods purchased on deferred payment terms.