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