Vol 7 No 8
Issued
01 Feb 1996

TIB - February 1996

Binding rulings

  • Dispositions where the transferor reserves a benefit or advantage in real property - gift duty implications
  • Dispositions where the transferor reserves a benefit or advantage in real property - income tax implications
  • Bad debts - writing off debts as bad for GST and income tax purposes
  • National Insurance Life and Health Ltd’s Executive Income Protection Agreed Value Contract
  • National Insurance Life and Health Ltd’s Executive Income Protection Indemnity Value Contract

Policy statements

  • Motor vehicle reimbursing rates
  • Vehicle logbooks - required content and quality

Questions we’ve been asked

  • Income Tax Act 1994 
  • Goods and Services Tax Act 1985 

Legal decisions - case notes

  • TRA 94/158: Transitional tax allowance (income under $9,880 rebate) - Education Officer’s entitlement
  • BJR Fox v CIR: Valuation of property for property speculation tax
  • TRA 92/176: GST input tax deduction allowed on farm house built for homestay accommodation
  • TRA 95/11: GST - whether issuing a discount card is a financial service
  • JL Slater and others v CIR: Whether activity constitutes “carrying on a business” 
  • TRA 95/33: Company arrangement held not to be a tax avoidance scheme