TIB - February 2009

New legislation

• Orders in Council
  • Minimum family tax credit amount increased
  • Student loan scheme repayment threshold for the 2009–10 tax year

Legal decisions – case notes

• Demand is not of substantial assistance in determining whether money is payable under the Unclaimed Money Act 1971: Westpac Banking Corporation, Bank of New Zealand and ANZ National Bank Limited v CIR
• Procedural irregularities in tax assessments: JD & CE Henson Partnership & Ors v Commissioner of Inland Revenue

Standard practice statement

• SPS 08/04: Elections to change a balance date

Questions we’ve been asked

• Qb 08/04: Income Tax Act 2007: Research and development credits (subpart lh) – tax avoidance (section bg 1)