TIB - May 1994

Policy statements

• Misappropriation by employees - tax consequences for employers
• Expenditure on land improvements used for farming, agriculture, forestry or aquaculture
• Telephone rental deductions for businesses based at home
• GST: the definition of resident
• Bloodstock breeders - offsetting profits or insurance proceeds against cost of replacement stock

Legislation and determinations

• Exemption D5: exemption from the requirements of section 64H(1) of the Income Tax Act 1976
• 1994 international tax disclosure exemption

Questions we've been asked

• Income Tax Act 1976 
• Goods and Services Tax Act 1985 
• Child Support Act 1991 
• Estate and Gift Duties Act 1968 
• Land Tax Act 1976 
• Official Information Act 1982 
• New Zealand Film Commissions Act 1978 

Legal decisions - case notes

• CIR v Mitsubishi Motors NZ Ltd:  Timing of deductibility of warranty costs; derivation of income when warranties not discharged
• Auckland Regional Authority v CIR:  Whether certain charges imposed by authority  are zero-rated for GST purposes
• Darnill and Darnill v TRA and CIR:  Whether land can be treated as trading stock; whether TRA decision subject to judicial review