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 .