Vol 12 No 6
Issued
01 Jun 2000

TIB - June 2000

Binding rulings

  • Supplies paid for in foreign currency – GST treatment. Public ruling – BR Pub 00/04

New legislation

  • Fringe benefit tax – prescribed rate of interest
  • Energy Efficiency and Conservation Act 2000
  • Child Support (Reciprocal Agreement  with Australia) Order 2000

Legislation and Determinations

  • Boat lift storage systems – general depreciation
  • Determination DEP45 National Average Market Values of Specified Livestock Determination 2000

Questions we’ve been asked

  • Disputes procedures: the commencement and expiry dates of a “response period”: Section 3(1) Tax Administration Act 1994 (TAA): Definition of “response period”

Legal decisions - case notes

  • Whether objectors unincorporated bodies for the purposes of GST
  • Whether late payment charge on insurance premiums was interest and taxable, or additional premiums and tax exempt
  • GST on fees for administrative services; Commissioner not entitled on appeal to change basis on which assessments were made; Appellate court jurisdiction confined to case stated
  • Whether taxpayer’s payment of accrued staff liabilities was a capital or revenue expense