TIB - April 1994

Legislation and determinations

National standard cost values for livestock - 1994
Income Tax (National Standard Costs for Livestock) Determination 1994
Depreciation - floor mats
Family Support - application date for changes made by Income Tax Amendment Act (No.2) 1993
Provisional tax rules from 1994/95 year onwards

Policy statements

GST - claims for secondhand goods input tax credits on property transactions between associated persons
$200 limit for writing off assets - is GST included?
Time share units - when sale profits are assessable
Adjustment to costs when domestic establishment attached to business premises
Lease duty on assignment of forestry rights - correction
GST on goods and services acquired in NZ by diplomatic staff
Stamp duty on fruit trees - correction
GST - lottery operators and promoters
GST registration of branches and divisions of non-profit bodies
Policy on changing balance dates - review completed

Questions we've been asked

Legal decisions - case notes

Horizon Homes Ltd & others v CIR: Whether “show homes” are trading stock; timing of assessability of income from construction projects
TRA 93/148, 93/149: Whether commercial building sold as going concern
Hill v CIR CA 94/93: Deductibility of forestry expenditure