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Vol 18 No 4
01 May 2006

TIB - May 2006

Legislation and determinations

  • 2006 International Tax Disclosure Exemption ITR17
  • Foreign currency amounts – conversion to New Zealand dollars

Legal decisions – case notes

  • Appeal filed out of time deemed abandoned: J G Russell v The Commissioner of Inland Revenue
  • Order for further and better discovery: Prophet Investments Limited
  • Disputing default assessments: Donald Eugene Allen v The Commissioner of Inland Revenue

Questions we've been asked

  • Effect of repeal of Income Tax Act 1994 on depreciation determinations issued before repeal
  • Correction – Threshold to account for GST on a payments basis

Operational Statements

  • Correction – GST treatment of supplies of telecommunications services 


On page 17 of Tax Information Bulletin Vol 18, No 4 (May 2006) there is an item stating that the taxable supplies threshold for accounting for GST on a payments basis is to be read as GST-exclusive. The equivalent GST-inclusive amount should, on current rates, be read as $1,462,500, not $1,625,000 as previously advised.