This determination provides that a New Zealand resident investor cannot use the fair dividend rate method to calculate FIF income from an investment in Daintree High Income Trust - NZD class units.

Determinations

• PROV28: Provisional depreciation rate for battery energy storage systems (modular)
• DET 26/01: Declaration that the January 2026 severe weather event is an emergency event for the purposed of family scheme income
• DET 26/02: Declaration that the February 2026 severe weather event is an emergency event for the purposed of family scheme income
• NSC 2026: National Stand Costs for Specified Livestock Determination 2026

Product rulings

• BR Prd 25/07: New Zealand Bloodstock Finance and Leasing Limited
• BR Prd 25/08: Northride New Zealand Limited

Technical decision summary

• TDS 26/01: Opening value of FIF income calculation

This interpretation statement considers the general principles governing the income tax treatment of expenditure taxpayers incur in carrying out work on tangible property they use in a business or income-earning activity.

This fact sheet accompanies IS 26/01: Income tax – deductibility of repairs and maintenance expenditure – general principles. IS 26/01 explains when you can claim an income tax deduction for repairs and maintenance costs for physical property and features 27 examples (including two relating to leaky buildings). This fact sheet gives a brief summary of the key points from IS 26/01 that specifically relate to leaky buildings. Another fact sheet (IS 26/01 FS 1) summarises all the key points from IS 26/01.

This fact sheet accompanies IS 26/01: Income tax – deductibility of repairs and maintenance expenditure – general principles. IS 26/01 explains when you can claim an income tax deduction for repairs and maintenance costs for physical (tangible) property and includes over 20 examples. This fact sheet gives a quick summary of the key points from IS 26/01.

The ruling relates to the Applicant’s payment of a distribution to its unitholders and whether this payment is excluded income of the unitholders under s CX 56C of the Income Tax Act 2007.

This determination lists the participating jurisdictions that, effective from 1 April 2026, have an agreement with New Zealand to provide us with financial account information under the Common Reporting Standard.  Since the last update in 2025, Cameroon, Mongolia, and Trinidad and Tobago have been added as participating jurisdictions.  This list is important for financial institutions when conducting due diligence in respect of accounts held by passive non-financial entities.

2026 determination lists the national standard costs for specified livestock.

This item summarises a private ruling that considered the opening value for the fair dividend method of calculating the foreign investment fund income of a taxpayer whose transitional residence period has ended.

Tax Information Bulletin - Vol 38 No 2, March 2026