Vol 10 No 4
Issued
01 Apr 1998

TIB - April 1998

New legislation

  • Taxation (Remedial Provisions) No.2 Bill

Legislation and determinations 

  • Foreign currency amounts – conversion to NZ currency 
  • Computer Numerically Controlled (CNC) Drilling & Routing Machines: Depreciation Determination DEP33
  • Hydrogen Manufacturing Unit and Hydrocracker Catalysts: Draft general depreciation determination
  • Woven reflective mulch: Draft general depreciation determination

Interpretation statements 

  • “Forestry”: whether or not it is included in the section CD 1(7) definition of “farming or agricultural business”

Standard practice statements 

  • Tax payments – when received in time: Standard Practice Statement PRC-100
  • Applications to keep records in Maori: Standard Practice Statement INV-470

Questions we’ve been asked 

  • Income Tax Act 1994 
  • Stamp and Cheque Duties Act 1971 

Legal decisions - case notes 

  • Joint bank accounts – whether Commissioner can attach under section 157: ANZ Banking Group v CIR