Vol 18 No 2
Issued
01 Mar 2006

TIB - March 2006

Binding rulings

  • Product ruling – BR Prd 05/05
  • Product ruling – BR Prd 05/06
  • Product ruling – BR Prd 05/07
  • Product ruling – BR Prd 05/08
  • Product ruling – BR Prd 05/09

Legislation and determinations

  • Livestock values – 2006 national standard costs for specified livestock

Questions we've been asked

  • FBT – Value of brokerage provided by sharebrokers to employees
  • The meaning of “benefit” for FBT purposes
  • Records for controlled foreign companies or foreign investment funds to be available in English

New legislation

  • Order in Council: Student loan scheme – repayment and interest write-off thresholds for the 2006-07 tax year

Legal decisions – case notes

  • Reinstatement of cancelled GST registration upheld by Court of Appeal: Lopas and McHerron v The Commissioner of Inland Revenue
  • Strike out of judicial review: Ron West Motors (Otahuhu) Ltd v TRA and The Commissioner of Inland Revenue
  • Taxpayer appeal against capital expenditure decision: Fullers Bay of Islands v The Commissioner of Inland Revenue