Vol 7 No 13
Issued
01 May 1996

TIB - May 1996

Binding rulings

  • Whether section CD 1 (4)(a)(i) and section CD 1 (7)(a) income tax exemptions apply to non-natural persons (BR Pub 96/8)
  • Bank of New Zealand’s “Cash Drawer Saver” account (BR Prd 96/11)
  • Global Communications Systems (NZ) Ltd’s sale of phone cards (BR Prd 96/14)

Policy statements

  • Homestays - GST treatment
  • GST incurred in determining tax liability
  • Balance date change - transitional returns
  • FBT and work related vehicles - Court decision in Rag Doll Fashions case

Legislation and determinations

  • Marquees - draft depreciation determination
  • Lawnmowers - depreciation
  • Propane gas cylinders - depreciation
  • Tomato graders - depreciation
  • Chemists - prescription amounts due from the Department of Health

Questions we’ve been asked

  • Income Tax Act 1994 
  • Income Tax (Withholding Payments) Regulations 1979 
  • Goods and Services Tax Act 1985 
  • Student Loan Scheme Act 1992 

Legal decisions - case notes

  • JPR Alexander v CIR: Unexplained deposits - whether assessable as dividend income
  • TRA No 93/238: Out of Court settlement for damage to property - whether GST input tax deduction allowable