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Vol 5 No 13
01 Jun 1994

TIB - June 1994

Policy statements

  • New Zealand superannuitants receiving overseas government pensions
  • $200 limit for writing off assets - correction
  • Income tax exemption for war and forces pensions
  • GST and cheque clearance fees
  • Cost of trading stock - are transport costs included?
  • Gift duty exemption for small gifts - application

Legislation and determinations

  • Tax in dispute interest rate, and application to GST Act
  • National average market values of specified livestock - 1994
  • Prescription amounts owing to chemists by Health Benefits Centre
  • Cancellation of International Tax Disclosure Exemption ITR5
  • 1994 international tax disclosure exemption

Questions we've been asked

  • Income Tax Act 1976 
  • Goods and Services Tax Act 1985 
  • Estate and Gift Duties Act 1968 
  • Correction to earlier item 

Legal decisions - case notes

  • Dow Chemicals Overseas v CIR:  Timing of assessability of “equalisation” payments  to non-resident employees
  • Suzy Speed v CIR Lone Oak Farms v CIR: Whether shareholders and liquidator can proceed with an objection on behalf of dissolved company
  • Shell NZ Holding Co Ltd v CIR:  Whether Customs import entry form constitutes  a GST invoice
  • CIR v Canterbury Frozen Meat Co Ltd: Refusal to strike out judicial proceedings as to whether an income tax assessment was valid