Vol 15 No 3
Issued
01 Mar 2003

TIB - March 2003

New legislation

  • Tax effects of the Remuneration Authority (Members of Parliament) Amendment Act 2002
  • Student Loan Scheme - interest rates for 2003-04

Standard practice statements

  • Clarification of standard practice statement - SPS RDC 620 - writing off tax debt reduction of net losses when writing off a debt

Legislation and determinations

  • Livestock values - 2003 national standard costs for specified livestock
  • Compact disc player, digital versatile disc players, video game players, and related assets

Legal decisions - case notes

  • Taxpayer "person affected" by tax avoidance arrangement; CIR's assessments upheld: CIR v Peterson and Peterson v CIR
  • Another case transferred from the TRA to the High Court: CIR v McIlraith
  • Documents not prepared with a dominant purpose of litigation: Glenharrow Holdings v CIR
  • Taxpayer's objection procedurally flawed; TRA lacks jurisdiction to determine objection: TRA 026/01 Decision 002/2003
  • Fundamental variation: TRA Decision 003/2003

Other items of interest

  • Statement of policy withdrawal and revised interpretation