TIB - May 2005

Legal decisions – case notes

• Recission of Mareva Injunction: Queen City Properties Group Limited and Others

New legislation

• Child Support Amendment Act 2005
• Estate and Gift Duties Amendment Act 2005
• Goods and Services Tax Amendment Act 2005
• Income Tax Amendment Act 2005
• Tax Administration Act 2005

Legislation and determinations

• Determination DET–001: Standard-cost household service for childcare providers consumers price index adjustments (March 2005)
• New Income Tax Act 2004 now in effect
• Determination DET–05/01: Amortisation rates for listed horticultural plants

Standard practice statements

• Retrospective adjustments to salaries paid to Shareholder-Employees – SPS 05/05
• Non-standard balance dates for managed funds and "As Agent" returns – SPS 05/06
• Erratum in respect of legislative references in SPS 05/04 – Disputes resolution process commenced by a taxpayer

Question we've been asked

• GST consequences of a cancelled contract