Vol 11 No 5
Issued
01 May 1999

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  • Estate Duty Legislation Repealed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