TIB - March 1996
Binding rulings
- Investment Marketing Group’s Geared Equities Investment
- Norwich Union Life Insurance (NZ) Ltd’s Income Protection Policy (Indemnity Cover)
- Norwich Union Life Insurance (NZ) Ltd’s Income Protection Policy (Agreed Value Cover)
- Norwich Union Life Insurance (NZ) Ltd’s Income Protection Policy (Business Expenses)
- Debt forgiveness in consideration of natural love and affection
Policy statements
- Qualifying companies with trustee shareholders
- ACC employer premium - accounting for experience rating adjustments
Legislation and determinations
- National standard costs for specified livestock - 1996
- Yachts - depreciation
- Shipping containers, and insulated containers, bulkheads and pallet covers - depreciation
- Amounts owing to chemists by the Department of Health for prescriptions
- Shearers’ tax-free allowances
- Tomato graders - proposed depreciation rates
- Fringe benefit tax - prescribed interest rate lowered to 10.4%
Questions we’ve been asked
- Income Tax Act 1994
- Tax Administration Act 1994
- Goods and Services Tax Act 1985
Legal decisions - case notes
- TRA 95/75 & 93/76: Land sale on winding up proposed business not a taxable activity
- Lockwood Buildings limited v CIR: Management fees paid to parent company - deductibility
- TRA 94/80: Penal tax charged - whether amount excessive
- TRA 94/47: Regular employee unloading containers under contract - employment status
- TRA 92/159: Real estate salesperson - employment status
- TRA 95/44: House built to run camping ground business - GST input deduction