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Vol 7 No 4
Issued
01 Oct 1995

TIB - October 1995

Binding rulings

  • National Mutual Policyholders
  • Employee share purchase scheme

Policy statements

  • Record keeping requirements: goods or services costing $50 or less
  • Trust disclosure requirements
  • Imputation - carrying forward unused credits
  • Consumable aids - deductibility of cost
  • Export market development expenditure refunds and further income tax
  • Asset no longer used but retained by taxpayer - application to deduct adjusted tax value

Legislation and determinations

  • Library books and periodicals - depreciation rate review

Questions we’ve been asked

  • Income Tax Act 1994 
  • Income Tax Act 1976 
  • Goods and Services Tax Act 1985 
  • Estate and Gift Duties Act 1968 
  • Student Loans Scheme Act 1992 

Legal decisions - case notes

  • Wilson and Horton Ltd v CIR: Newspaper advertising space sold to non-residents - zero-rating
  • Union Steamship co of NZ Ltd v CIR: Revenue and capital - distinction
  • TRA 93/241: Land acquired for the purpose of erecting dwellinghouses - whether exempt from stamp duty
  • Fraser v CIR: Inducement and restraint of trade payments - capital or income?
  • Miller and O’Neil v CIR: The appropriate procedure for contesting a decision by the Commissioner
  • NZ Refining Co Ltd v CIR: Crown payments and GST