TIB - November 2008

Legislation and determinations

• Fair dividend rate method determination Determination FDR 2008/13
• Foreign currency amounts – conversion to New Zealand dollars

New legislation

• Climate Change Response (Emissions Trading) Amendment Act 2008
• Orders in Council: Mortgage diversion – KiwiSaver Amendment Regulations (No 2) 2008
• New tax information exchange agreement with the Netherlands on behalf of the Netherlands Antilles

Legal cases – case notes

• Forfeiture of shares taxable under FIF regime: Govind Prasad Saha v CIR CIV 2007-485-701
• No deduction for fines: TRA 105/05 Dec 9/2008
• Judicial review granted for delay: Peter Allan Harris v the District Court at Auckland and CIR
• Test for intention/purpose: CIR v Boanas, Boanas, Railton and Railton (Mt Rosa Partnership)
• TRA has jurisdiction to substitute an assessment: Beckham v CIR