Vol 17 No 4
Issued
01 May 2005

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