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Volumes 161-170

2022 PIB reviews
List of completed PIB reviews from volumes 161 to 170, Apr 1987 to Feb 1988.

Volumes 121-130

2022 PIB reviews
PIB volumes 121-130 (1983 to 1984) completed reviews. Items with technical information have been reviewed and the decisions relating to each item listed.

Volumes 21-30

2022 PIB reviews
Completed reviews of Public Information Bulletins vol 21-30 (1965 to 1966).

Volumes 171-183

2022 PIB reviews
Completed reviews of PIB volumes 171-183, March 1988 to July 1989.

Volumes 151-160

2022 PIB reviews
Completed reviews of PIB volumes 151-160, June 1986 to March 1987.

IS 21/09 Income tax – foreign tax credits – how to calculate a foreign tax credit

22 Dec 2021 Interpretation statements

This interpretation statement explains how to calculate a foreign tax credit under subpart LJ of the Income Tax Act 2007.  It also explains how to segment foreign-sourced income by country and by type.  Examples are included to illustrate the concepts discussed.

FX 21/01 Foreign exchange rates

21 Dec 2021 Determinations

This Approval approves foreign exchange rate sources that may be used by any person who is required to convert a foreign currency amount into New Zealand Dollars (NZD) for the purpose of determining their tax liability.

This Approval also approves the use of mid-month, end-of-month and rolling average currency conversion methods, where appropriate. These sources and methods may be applied unless the Income Tax Act 2007 or the Commissioner states otherwise.

In addition, this Approval explains how foreign exchange rates should be used to convert foreign currency amounts to NZD.

New search developments on our website

20 Dec 2021 Web page
Introducing PDF searching, and new search operators.

PUB00414: Can a payment that compensates for the time value of money be taxable income if it is outside the statutory definition of “interest”?

16 Dec 2021 Web page

This item updates and clarifies the Commissioner's view on the High Court case of CIR v Buis as it relates to the interaction between the specific provision taxing interest and the provision taxing income under ordinary concepts.  The Commissioner now considers that CIR v Buis can be read consistently with her view that an amount that may be described as interest may be income under ordinary concepts or under another provision.

QB 21/11 Elections not to depreciate commercial buildings

16 Dec 2021 Questions we've been asked

This question we’ve been asked sets out the position for taxpayers making an election to not depreciate their commercial building since the depreciation rate of 0% was removed from commercial buildings with effect from the 2021 income year.