Vol 6 No 11
Issued
01 Apr 1995

TIB - April 1995

Policy statements

  • GST on supply of goods after a change in use
  • Allocation of imputation credits to dividends when company liquidated
  • Imputation returns when company liquidated
  • Transferring credit DWPA balance to ICA when company liquidated
  • Further income tax, imputation penalty tax and additional tax when company liquidated
  • Resident withholding tax and certain back-to-back loans

Legislation and determinations

  • Adverse events scheme - interest rate increased
  • Depreciation - static delimbers (timber industry)
  • Tax Administration (Form of Warrant) Regulations 1995

Questions we've been asked

  • Income Tax Act 1994 
  • Goods and Services Tax Act 1985 
  • Student Loan Scheme Act 1992 
  • Insolvency Act 1967 

Legal decisions - case notes

  • Newman v CIR CA 150/94: Subdivision and sale of own land by builder - not a taxable activity for GST
  • TRA 94/35:  Payment on involuntary termination of employment not a retiring allowance
  • TRA 92/20: Whether penal tax charged was excessive
  • TRA 93/88:  Interest deductibility and apportionment
  • TRA 94/45:  Whether interest income received was derived from a specified activity
  • TRA 93/135:  GST input credits on property used for business and accommodation
  • TRA 94/97:  Compensation payments made by company on shareholders’ behalf not deductible