New legislation

• Public Act 2025 No 50: Income Tax (FamilyBoost) Amendment Act 2025

Determination

• S65: Spreading method to be used for some electricity price contracts for difference

Standard practice statement

• Notice of withdrawal: Imaging of electronic storage media

Interpretation statement

• IS 25/21: GST – taxable activity

Case Summary

• CSUM 25/12: High Court refuses to grant stay of liquidation pending outcome of judicial review proceeding

Technical decision summary

• TDS 25/23: Disposal of cryptoassets

This item summarises a private ruling about the exit of two company subsidiaries from a consolidated group and the sale of a third subsidiary (the sole remaining member of the consolidated group) to a third party. It considers the business continuity test and whether a specific anti-avoidance provision applies.

This item summarises a private ruling about the transfer of shares between companies within a group as part of a restructure and whether any future sale of the shares is taxable.

This QWBA confirms that s IB 3(2)(c), which is a central requirement of the business continuity test, is not breached when a standard PPP project transitions from the design and construction phase to the operation and maintenance phase. Accordingly, a corporate PPP contractor may generally rely on the business continuity test to carry forward losses incurred during the design and construction phase, even if shareholder continuity is breached during that phase.

This item summarises a private ruling about the supply of accommodation in a retirement village that includes the provision of mandatory services and whether this constitutes the taxable supply of accommodation in a commercial dwelling.

The Commissioner commenced liquidation proceedings against KD Transport Limited (KD). KD requested relief under s 177 of the TAA which the Commissioner declined. KD sought judicial review of the Commissioner’s decision declining its proposal for relief and also applied to stay the liquidation proceeding, pending determination of its judicial review application. The stay application needed an extension of time as it was made outside the five working day period prescribed in the High Court Rules. The application for an extension of time was dismissed, and the Associate Judge made an order liquidating KD.

Tax Information Bulletin - Vol 37 No 10, November 2025

This item summarises an adjudication about the acquisition and disposal of cryptoassets (including staking rewards) and whether the amounts derived are income.

Tax Information Bulletin - Vol 37 No 10, November 2025

This interpretation statement sets out the Commissioner’s view on the meaning of “taxable activity”.  The Commissioner has discussed this concept in numerous public items, but generally in a specific context such as subdivisions of land, horse racing or horse breeding.  This statement is of more general application. It replaces GST on disposal of assets used principally in making exempt supplies Tax Information Bulletin Vol 1, No 7 (January 1990), 6 and Whether an activity is a GST taxable activity or a hobby Tax Information Bulletin Vol 6, No 14 (June 1995), 5.

Tax Information Bulletin - Vol 37 No 10, November 2025

New legislation

• SL 2025/151: Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations (No 2) 2025
• SL 2025/150: Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2024–25 Income Year) Order 2025

Ruling

• BR Prd 25/04: PPS Mutual Limited

Operational position

• OP 25/02: Commissioner’s operational position on the FBT treatment of open loop cards provided by employers to employees

Interpretation statements

• IS 25/19: Income Tax – Whether an off-market share cancellation is made in lieu of the payment of a dividend
• IS 25/20: Student Loans – Overseas borrowers and their obligations

General article

• GA 25/01: Tax on any fees paid to a member of a board, committee, panel, review group or task force

Technical decision summaries

• TDS 25/21: Omitted income and shortfall penalty
• TDS 25/22: GST – supply of accommodation

 

 

This interpretation statement discusses when a student loan borrower will be a New Zealand-based borrower and when they will be an overseas-based borrower. A borrower’s status as New Zealand-based or overseas-based will determine whether interest accrues on their loan and will impact their repayment obligations.

Tax Information Bulletin - Vol 37 No 9, October 2025