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Vol 6 No 10
Issued
01 Mar 1995

TIB - March 1995

Policy statements

  • Calculating NZ Superannuitant surcharge - taxpayers with non-standard balance dates
  • Restraint of trade payments - deductibility for payer
  • FBT - meaning of availability for private use or enjoyment
  • Fertiliser or lime - deduction for purchase and application
  • Taxation of children’s earnings and the child rebate
  • Effect of a company’s residence on the obligation to maintain an imputation credit account
  • Underlying foreign tax credits - eligible accounting years and information requirements for pre-commencement years
  • Reregistration fee and associated legal costs under 1993 companies legislation - deductibility
  • Non-resident withholding tax - monthly statements no longer required

Legislation and determinations

  • Depreciation - psychological testing sets
  • Student Loan Scheme - interest rates for 1995-96

Questions we've been asked

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

Legal decisions - case notes

  • TRA 94/74: Determining other income for National Superannuitant surcharge
  • Alliance Group v CIR: Meaning of “lump sum” for redundancy purposes
  • NZ Forest Products Finance NV v CIR: Residence of New Zealand parent company’s foreign subsidiary
  • TRA 92/92: Year in which ACC earnings-related compensation is assessable
  • Wilson v CIR: Factors the Commissioner must consider when exercising discretion to accept late objections