Vol 11 No 4
Issued
01 Apr 1999

TIB - April 1999

Legislation and determinations

  • Foreign currency amounts – conversion to NZ currency
  • 1999 international tax disclosure exemption ITR10
  • Local authority trading enterprise definition
  • Fabric samples and fabric display stock – depreciation
  • Plastic growing trays – depreciation
  • FBT prescribed rate of interest for quarter starting 1 January 1999 (6.5%)

General interest items

  • Nursery plants – trading stock

Questions we’ve been asked

  • Temporary shortfall: definition of later return period

Legal decisions – case notes

  • Insurance company’s share profits: revenue or capital
  • Timber cost: establishing deductible amount
  • Loans acquired on business takeover: whether capital or revenue