Vol 10 No 12
Issued
01 Dec 1998

TIB - December 1998

New tax legislation passed

  • Taxation (Simplification and Other Remedial Matters) Bill
  • Taxation (Tax Credits, Trading Stock, and Other Remedial Matters) Bill

Legislation and determinations

  • Fringe benefit tax - prescribed interest rate decreased to 6.94%

Standard practice statements

  • Fast tracking small simple disputes (INV-140)

Binding rulings

  • Forestry rights – secondhand goods GST input tax deduction (BR Pub 98/5)
  • Netherlands social security pensions – taxation when recipient is NZ resident (BR Pub 98/6)
  • Easements – deductibility of the costs of preparation, stamping, and registration (BR Pub 98/7)