TIB - November 1995
Binding rulings
- Low cost income protector policy agreed value (BR Prd 95/5)
- Share cancellation (BR Prd 95/6)
- Relationship between the “unit trust” and “qualifying trust” definitions (BR Pub 95/5)
- Tax treatment of credit card companies’ frequent flyer schemes (BR Pub 95/6)
Policy statements
- Insurance, indemnity, compensation or damages receipts for loss or damage to trading stock or consumable aids
- Additional and incremental tax - remission
- Underestimation additional tax charged before 1994-95 year - remission under section 413 of Income Tax Act 1976
- Cash basis holder status not optional
- Approved issuer levy - late registration of securities
Legislation and determinations
- Proposed new asset classes in basic economic depreciation rates
Questions we’ve been asked
- Income Tax Act 1994
- Goods and Services Tax Act 1985
- Student Loan Scheme Act 1992
Legal decisions - case notes
- CIR v Mitsubishi Motors NZ Ltd: Timing of deductibility of warranty expenses
- TRA 91/8: Allocation of income from a family trust
- CIR v Roma Properties Ltd: Fringe benefit tax - status of “employee” - whether application of law retrospective
- TRA 95/51: Criteria for granting extensions of time for filing points-of-objection notices
- Paul Finance Ltd v CIR: Application for summary judgment in respect of GST refund withheld by Commissioner
- Barrat Partnership v CIR: Supply of a taxable activity as a going concern
- TRA 95/25: Payment of debts not deductible in the course of business
- TRA 91/24: Whether lease inducement payments subject to GST
- FF Brown and others v CIR: Foreign exchange loss