TIB - August 1999

New Legislation

Binding rulings

New application forms for binding rulings
Changes to binding rulings regulations
Draft public ruling PU3801: Guarantee fees paid by a New Zealand company to an overseas associated company
Public ruling – BR Pub 99/4: Land sales – whether income tax exemptions for farm land apply to non-natural persons
Public ruling – BR Pub 99/5: Frequent flyer schemes promoted by credit card companies – fringe benefit tax liability
Product ruling – BR Prd 99/5
Product ruling – BR Prd 99/6
Product ruling – BR Prd 99/7
Product ruling – BR Prd 99/8

Legal decisions – case notes

GST – whether input credit available on sale and subdivision of land acquired in 1984
Deduction in respect of loss set-off – whether interest losses cancelled as a result of liquidation; whether Commissioner able to alter assessment
Awards for costs in tax cases
Whether objector was resident of NZ for the purposes of taxation of income

Standard Practice Statements

Questions we’ve been asked

Tax Administration Act 1994 – specific rates of interest/additional tax for tax in dispute

Matters of interest