TIB - May/June 1999

Legislation and determinations

• Parental Tax Credit introduced as part of “Family Plus” tax assistance package
• Stamp Duty Abolished
• Estate Duty Legislation Repealed
• National Average Market Values of Specified Livestock Determination 1999
• Creation of Work and Income New Zealand
• Community wage and child support information

Legal decisions – case notes

• Inducement fee - whether monetary remuneration
• Tax liability - whether relief taxi drivers independent contractors or employees
• Taxable Activity - Business or hobby?
• Part XA Income Tax Act - whether valid in terms of Magna Carta
• Tax Avoidance - interest deduction on loan to purchase associated company shares
• Remuneration paid in respect of leave owed - whether capital or revenue expenditure
• Input tax credits on purchase of land for residential care
• Whether property was sold as a going concern

Binding Rulings

• Subsidised Transport provided by employers to employees - value for fringe benefit tax purposes
• Licensed premises' operators and entertainment expenditure

Correction to a previous item

• Qualifying Company Election Tax