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PUB00341: Payments by parents to private schools

15 Aug 2022 Web page
Send us your feedback on these draft items which cover the tax treatment of payments made by parents to private schools.

PUB00398: Company losses – ownership continuity, sharing and measurement

11 Aug 2022 Web page

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

03 Aug 2022 Technical decision summary / 2022

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

Find out more about Technical Decision Summaries

TDS 22/16 Non-resident supplier – application for GST registration

03 Aug 2022 Technical decision summary / 2022

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

Find out more about Technical Decision Summaries

FDR 2022/01 A type of attributing interest in a foreign investment fund for which a person may use the fair dividend rate method (Units in the Two Trees Global Equity Macro Fund - Class Z)

01 Aug 2022 Determinations / International tax / Foreign investment funds / 2022

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

26 Jul 2022 Fact sheets / 2022

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)

QB 22/02 FS Income tax - Donations – what is required to establish and maintain a “public fund” under s LD 3(2)(d) of the Income Tax Act 2007?

26 Jul 2022 Fact sheets / 2022

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

26 Jul 2022 Interpretation statements / 2022

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

25 Jul 2022 TIB / Volume 34 - 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?

25 Jul 2022 Technical decision summary / 2022

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

More
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 
 
 

Closes 1 September

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.

Read the survey report

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.