Vol 10 No 9
Issued
01 Sep 1998

TIB - September 1998

Legislation and determinations

  • Stamp duty special arrangement – documents that don’t need stamping by Inland Revenue
  • Hi-trim shelter trimmers – depreciation (DEP40)
  • Fringe benefit tax – prescribed interest rate decreased to 10.13%
  • Electricity revenue and data logging terminals – depreciation (DEP41)
  • Norway/New Zealand double tax agreement amended
  • Bird netting (used by winegrowers) – depreciation (DEP42)

Interpretation statements

  • Amateur sports promoter exemption – application to non-residents
  • General interest items Inland Revenue Technical Rulings – now limited to historical value
  • Tax Education Office – end of one era; start of another

Questions we’ve been asked

  • Library books and periodicals – clarification of depreciation Determination DEP32
  • Prints and original paintings – depreciation

Legal decisions - case notes

  • Assets acquired at no cost – GST input deduction: EZ Wilke v CIR
  • Crown business taken over – deductibility of accrued staff leave liabilities: NZ Forest Research Institute v CIR, Horticulture and Food Research Institute of NZ v CIR