Send us your feedback on this draft interpretation statement which considers company losses – ownership continuity, sharing and measurement.

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

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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

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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.

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 18/05: Income tax – donee organisations – meaning of wholly or mainly applying funds to specified purposes within New Zealand
• QB 19/10: Donations – what is required to establish and maintain a fund under s LD 3(2)(c) of the Income Tax Act 2007?

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)

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

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

Find out more about Technical Decision Summaries