TIB - March 2008

New legislation

• Income Tax Act 2007

Legislation and determinations

• Livestock values – 2008 national standard costs for specified livestock
• Fair dividend rate method determinations
  • Determination FDR 2008/01
  • Determination FDR 2008/02

Legal decisions – case notes

• Trainer’s percentage is exempt income: TRA Decision Number 2/08
• Commissioner entitled to use section 19 during the dispute resolution process: Gerald Malcolm Foxley and Anor v The Commissioner of Inland Revenue