Vol 5 No 8
Issued
01 Jan 1994

TIB - January 1994

Policy statements

  • GST - section 21 and property developers who rent out property for residential purposes

Tax legislation and determinations

  • Surgical implant instrument sets - depreciation
  • Student Loan scheme - repayment threshold raised
  • Residential rental property chattels - depreciation

Questions we've been asked

  • Income Tax Act 1976 
  • Goods and Services Tax Act 1985 
  • Accident Rehabilitation and Compensation Insurance Act 1992 
  • Child Support Act 1991 
  • Student Loan Scheme Act 1992 

Legal decisions - case notes

  • Finnigan v CIR, HC New Plymouth M 52/91:  Partner not entitled to deduct advance to partnership
  • TRA No. 93/56: Purchase of secondhand asset outside NZ by bare trustee
  • TRA 93/141: Use of assets accretion method upheld
  • James Bull Ltd v CIR C.A. 37/93:  Investment allowances not available on equipment hired out