TIB - August 1996

Policy statement renamed and restructured

Tax deductions from real estate salespersons

ACC employer premium classification bulletins - local government

Non-resident contractor enquiries - change of IRD contact address

Legislation and determinations

Marquees - draft depreciation determination
Wintering pads (rubber) - depreciation (PROV5)
Rifles, shotguns, pistols, firearms, fastening guns (explosive) - draft depreciation determination
Undersea maintenance equipment - general depreciation determination (DEP17)

Binding rulings

Tower Retirement Investment Ltd’s “FuturePlan” (BR Prd 96/18)
Tower Retirement Investment Ltd’s “FreedomPlan” (BR Prd 96/19)
Tower Retirement Investment Ltd’s “InvestDirect Plan” (BR Prd 96/20)
Earlier binding rulings withdrawn and replaced
Mico Wakefield Ltd’s trade loyalty programme (BR Prd 96/21)

Questions we’ve been asked

Income Tax Act 1994 Prizes paid in instalments - correction
Goods and Services Tax Act 1985: GST on supplies from unregistered partners to registered partnerships
Accident Rehabilitation and Compensation Insurance Act 1992: Loss of earnings insurance policy payouts - whether liable to ACC premiums

Legal decisions - case notes

Supply of services subject to GST: TRA 93/21
Time limits for appeals: TRA 95/013 & 95/015
Payment for surrendering option to purchase - capital receipt: Union Steamship Co Ltd v CIR
Land subdivision profits - assessability: TRA 94/19 & 94/20