TIB - March 2009

Binding rulings

Legislation and determinations

Determination S14: Issue of perpetual non-cumulative shares by BNZIS and related transactions
Livestock values – 2009 national standard costs for specified livestock

New legislation

Taxation (Urgent Measures and Annual Rates) Act 2008: Tax cuts for individuals; Repeal of research and development tax credit; KiwiSaver; Annual income tax rates for 2009–10; Working for Families overpayments

Legal decisions – case notes

Commissioner’s right to withhold a GST refund: Contract Pacific Limited v the Commissioner of Inland Revenue
Taxpayers’ second judicial review successful: Chesterfields Preschools Limited and Ors v the Commissioner of Inland Revenue
Backdated ACC compensation not double taxed: TRA Decision Number 03/2009
Supreme Court upholds common law position on proof of amount in PAYE and GST offending: Smith v R
Template avoidance scheme assessments confirmed: TRA Decision Number 1/2009
Supreme Court ruling on “Trinity”: Ben Nevis Forestry Ventures Limited and Ors v the Commissioner of Inland Revenue
The Court confirmed section 76 is a general anti-avoidance provision and every avoidance issue needs to be addressed objectively on its merits: Glenharrow Holdings Limited v the Commissioner of Inland Revenue
Section 157 catches agent: Enterprises Lakeview Limited v the Commissioner of Inland Revenue
Application for review on grounds of bias unsuccessful: J G Russell v the Taxation Review Authority and the Commissioner of Inland Revenue
Commissioner’s right to remove and copy electronic information: Avowal Administrative Attorneys Limited and Ors v the District Court at North Shore and the Commissioner of Inland Revenue
Summary judgment application for GST refund: Sadiqs as Trustees of Azura Family Trust