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Vol 6 No 4
01 Oct 1994

TIB - October 1994

Policy statements

  • Deducting sponsorship as advertising expenditure
  • GST and door to door sales
  • Spreading of authors’ income for tax purposes
  • Ceasing to satisfy the conditions for accounting for GST on payments basis
  • Tax treatment of bodies corporate which are constituted under the Unit Titles Act 1972
  • Payments made by instalments - accounting for GST on payments basis
  • Personal sickness or accident insurance policies and loss of earnings insurance policies (individual policies only)
  • Correction - NZ Superannuitants receiving overseas government pensions

Legislation and determinations

  • Paying FBT yearly - no change in base interest rate
  • Budget night announcements - legislation passed
  • Determination E10: persons not required to comply with section 104A of the Income Tax Act 1976
  • Income Tax (Deemed Rate of Return 1993-94 Income Year) Regulations 1994

Questions we've been asked

  • Income Tax Act 1976 
  • Goods and Services Tax Act 1985 
  • Student Loan Scheme Act 1992 
  • Companies Act 1955 

Legal decisions - case notes

  • Shell NZ Ltd v CIR: Payments to employees who relocate
  • Coveney v CIR, Dooley v CIR, Swain &Adams v CIR: Whether a GST input tax credit can be claimed on the purchase of a farm dwelling
  • TRA 93/143: Whether life insurance agent’s expenditure is deductible
  • TRA 93/87: Whether penal tax charged was excessive
  • TRA 93/133: Whether penal tax charged was excessive