TIB - August 1995
Binding rulings
- Associated non-profit bodies - $1,000 income tax exemption (BR Pub 95/1)
- GST - sale of long-term residential properties (BR Pub 95/2)
- Agreed Value Plan issued by FAI Metropolitan Life Assurance Company NZ Limited (BR Prd 95/1)
Policy statements
- GST and subdivisions - Court of Appeal decision in the Newman case
- Overseas travel expense claims (Replaced by QB 22/06)
- Pensions payable to former employees
- Recovery of tax arising after estate distributed
- Family partnerships: Commissioner’s ability to reallocate profits and losses
- Tokens, stamps and vouchers - GST on supply
- Casino chips - GST on supply
- Non-resident film renters - income tax treatment .....
Questions we’ve been asked
- Income Tax Act 1994
- Goods and Services Tax Act 1985
- Accident Rehabilitation and Compensation Insurance Act 1992
Legal decisions - case notes
- Howick Parklands Ltd v CIR: Land acquired for purpose of erecting dwellinghouses - whether exempt from stamp duty
- TRA 93/144 and 94/24: Whether sale of properties acquired for residential letting constitutes a taxable activity
- Cooper v CIR: Partnership income and expenditure and loan remission
- Henwood v CIR: Whether payments made for restraint of trade
- TRA 93/215 and 94/135: Flower bulbs and tubers - whether cost deductible as revenue expenditure
- Thornton Estates Ltd v CIR: Land subdivision development - whether accrual rules apply to costs
- TRA 94/71: Management fees and entertainment expenses - whether capital or revenue expenditure
- Instant Finance Corp’n (1987) Ltd v CIR: Whether taxpayer had a right of objection to notice issued under section 276
- GS Matthews (Chemist) Ltd v CIR, Troon Place Investments Ltd v CIR: Shareholder remuneration - whether remuneration paid is excessive