TIB - March 2000

Binding Rulings

• Product Ruling - BR Prd 00/02

Interpretation Statements

• Transferable Term Fishing Quota – Acquisition and Conversion: Sections 104, 104A, 106, and 107A, Income Tax Act 1976

New legislation

• Regulations
  • Fringe benefit tax – prescribed rate of interest
  • Compulsory direct crediting of refunds arising from housekeeper and donation rebates
  • Student loan scheme – interest rates for 2000-01

Standard Practice Statements

• Instalment arrangements for payment of tax debt – RDC-6

Legal decisions – case notes

• Application for extension of time to file case stated with the Taxation Review Authority: TRA Numbers 97/47-97/74. Decision Number 7/2000
• Interest charged on income tax payment shortfalls – whether Inland Revenue breached natural justice; challenges to Department’s assessment barred by section 120I(1): TRA Number 003/99. Decision Number 8/2000