Vol 15 No 6
Issued
01 Jun 2003

TIB - June 2003

Binding rulings

  • Product Ruling - BR PRD 03/12
  • Public Ruling - BR PUB 99/6 Extended

Legal decisions - case notes

  • Angel Capital Corporation LTD v CIR
  • TRA 084/02
  • NZHB Holdings v CIR
  • Jarrod Peter Hester & Ors v CIR

Legislation and determinations

  • Determination: Amount of a specified withholding payment (being honoraria paid to members of the Royal New Zealand Plunket Society (Inc.)) that shall be regarded as expenditure incurred in production of payment
  • National average market values of specified livestock determination 2003

Standard practice statements

  • Retrospective adjustments to salaries paid to shareholder-employees
  • Shortfall penalties

New legislation

  • NZAID grants transferred to overseas development programmes
  • Fringe benefit tax-prescribed rate of interest on low-interest employment-related loans
  • Deemed rate of return for foreign investment fund interests

Questions we've been asked

  • General depreciation determination - fishing nets
  • Company restructuring: "Demergers" and "Spin-outs" - BHP, WMC and CSR

Other items of interest

  • Loss attributing qualifying companies