Vol 6 No 3
Issued
01 Sep 1994

TIB - September 1994

Policy statements

  • Conveyance duty on property conveyed on behalf of a company yet to be formed
  • GST - zero-rating and temporary imports such as yachts
  • Qualifying company election formula - meaning when factor “b” is negative
  • Rental losses and Family Support
  • NZ resident insurance underwriters - no deductions for overseas business expenses/losses
  • Assessability of gifts received by volunteer workers in New Zealand
  • Keeping a logbook for a vehicle used for both business and private purposes
  • Tax exemptions for some United Nations and Asian Development Bank salaries
  • Exemption from income tax under another Act

Questions we've been asked

  • Income Tax Act 1976 
  • Goods and Services Tax Act 1985 

Legal decisions - case notes

  • TRA 92/61,62,63,64,65: Arrangement to avoid income tax
  • TRA 93/115: Calculating “other income” when superannuitant receives overseas pension
  • TRA 93/173: Whether rates are included in the taxable supply of leasing land
  • Sherlaw v CIR: Expenditure on repiling a boatshed - whether deductible under the second proviso to section 108
  • CIR v Soma President textiles, and CIR v NZ Knitting Mills: Timing of assessability of business interruption insurance payments .