Vol 8 No 8
Issued
01 Nov 1996

TIB - November 1996

Interpretation statements

  • Transfers of depreciable property between 100% commonly owned companies - withdrawal of Commissioner’s practice

Legislation and determinations

  • Aluminium scaffolding - depreciation determination DEP19
  • Horizontal directional drilling machines - draft depreciation determination

Binding rulings

  • Taxation of commissions received by life agents on own policies and family policies (BR Pub 96/9)
  • Taxation of commissions received by life agents on own policies and family policies (BR Pub 96/9A)
  • GST - advertising space and advertising time sold to non-residents (BR Pub 96/10)
  • Hunter Premium Funding Ltd: service of arranging loans is GST-exempt as a financial service (BR Prd 96/30)

Questions we’ve been asked

  • Income Tax Act 1994: Whether franchise agreements are depreciable

Legal decisions - case notes

  • Retirement allowance - assessability: TRA 95/82
  • Adjustment assistance payments - assessability: TRA 96/38, 96/39
  • Liability for income tax - section 276: BNZ Finance v CIR and Nash