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