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Vol 3 No 6
01 Apr 1991

TIB - April 1991

  • Recent Legislation - Taxation Reform Bill (No.4)
  • Trade Unions no longer included in Friendly Society Definition
  • Confirmation of Tax Treatment of Student Grants and Allowances
  • Definition of Income Year and Associated Terms
  • Information from Returns now accepted Electronically
  • “IR 5 Taxpayer” defined
  • Changes to Return Filing Date
  • Time Limitations for Amendment of Assessments
  • Extension of Time to make Objections
  • Six Month Time Limit for Stating Cases to High Court
  • NRWT Removed for Niuean Companies
  • Transitional Relief for Trade Associations
  • New Start Grants: Extension of Deadline
  • Extension of Relief Provisions to Estimators of Provisional Tax for Shareholder-Employees affected by the 1991 Amendments to Section 75
  • Monetary Remuneration includes Directors' Fees for Purposes of Sections 75 and 104A
  • Valuation of Trade Associations' Assets
  • Controlled Foreign Company Transitional Provisions extended, Foreign Investment Fund Regime deferred
  • FBT - Payments by Associated Persons recognised
  • FBT - GST-Exclusive Values where Employee part-owns Motor Vehicle
  • Changes to Tax Payment Dates
  • Words “Family Benefit” now Repealed
  • Reference to “Specified War Pension” removed from Act
  • New Start Grants: Tax Write Off in cases of Serious Hardship
  • Record Retention Period reduced
  • Employer Obligation to advise Employees' Commencement and Cessation
  • Family Support Income Bands decreased
  • Additions to the Transitional List of Low Tax Countries
  • Confirmation of Annual Rates of Income Tax
  • Gift Duty Exemption for Superannuation Assignments extended
  • Use of symbols allowed on Electronically Transferred Tax Invoices, Debit and Credit Notes
  • Use of Trading Names on Tax Invoices allowed
  • GST Zero-Rated on Sales from Airport Duty-Free Shops
  • GST: Zero-Rating of Temporary Imports clarified
  • Taxable Period Returns
  • GST: Change of Accounting Basis requirements simplified
  • TRA may dismiss Objections for Non-Appearance
  • Child Support Living Allowance
  • Recent Legislation - Gaming and Lotteries Amendment Act makes Consequential Amendments to Revenue Acts
  • List of Inland Revenue Publications as at April 1992