TIB - February 1997

Legislation and determinations

• Aquariums - Depreciation Determination DEP22
• Student Loan Scheme - interest rates and repayment threshold for 1997-98
• Use of money interest rates from February/April 1997
• Compliance and penalties - amendments to TIB 8.7 - see appendix

Binding rulings

• Trans Power’s services in connection with AC Hedge contracts not exempt as financial services for GST purposes (BR Prd 97/3)

Legal decisions - case notes

• Forestry block sold early – cessation of activity for GST purposes?: TRA 95/43
• Loss offset in group of companies: Golden Bay Cement Co v CIR
• FBT on vehicles used by employees of earthmoving company: TRA 95/068
• Timeshare purchase – GST input deduction: TRA 94/94