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Vol 16 No 3
01 Apr 2004

TIB - April 2004

Binding rulings

  • Licensed premises' operators - deductibility of entertainment expenditure: Public ruling - BR PUB 04/02
  • Fringe benefit tax and motor vehicle multi-leases: Public ruling - BR PUB 04/03
  • Product ruling - BR PRD 04/02
  • Product ruling - BR PRD 04/03

New legislation

  • Determination E11: Persons not required to comply with section EF 1 of the Income Tax Act 1994

Legislation and determinations

  • Digital photographic minilabs: Draft general depreciation determination
  • 2004 international tax disclosure exemption ITR15
  • Foreign currency amounts - conversion to New Zealand currency

Standard practice statements

  • Reduction of shortfall penalties for previous behaviour: IR SPS INV 295

Operational statements

  • GST and the costs of sale associated with mortgagee sales

Legal decisions - case notes

  • Deductibility of legal expenses: TRA decision 009/2004
  • Matters raised in statement of position: not excluded: CIR v Delphi Fishing Company Limited
  • GST consequences of sale and purchase of property: CIR v Campbell Investments and the trustees in the JC Montgomery family trust CIV 2003 485916
  • Evidence on recall of judgment fails to assist taxpayers: TRA decision 012/2004 and 013/2004
  • Application to recall or alter rulings refused: TRA decision 01/2004
  • No person exempt from taxation: Phillip William Rupe v CIR