TIB - February 1995

Policy statements

• Using a special tax code
• Definition of a qualifying trust
• Fractional shares in land - value for gift duty
• Imputation credit account and dividend withholding payment account - penalty tax and additional tax
• Commissioner’s powers under section 400 of the Income tax Act 1976
• Guaranteed Minimum Family Income - self-employed people’s eligibility
• Base price adjustment when a company purchases its own debt instrument
• Exemption from NZ income tax for foreign international aircraft operators

Legislation and determinations

• Comparative tables: section numbers of Income Tax Act 1994, Income Tax Act 1976, and other tax Acts
• FBT - prescribed interest rate increased to 9.2%
• Student Loan scheme - repayment threshold raised

Questions we've been asked

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

Legal decisions - case notes

• TRA 94/86 & 94/87: Depreciation of a yacht used for charter hire
• TRA 93/93 & 93/96: Company loss not able to be offset amongst group
• TRA 93/236: Assessable income for low income rebates
• TRA 91/89: Assessability of profit on sale of shares

See also the appendix.