Vol 21 No 6
Issued
01 Aug 2009

TIB - August 2009

Binding rulings

  • Decision not to reissue public rulings – BR Pub 03/08 and BR Pub 03/09
  • Product rulings BR Prd 09/03, 09/04, 09/05, and 09/06
  • Public ruling BR Pub 09/03: Charitable organisations and fringe benefit tax
  • Public rulings BR Pub 09/04: Fishing quota – secondhand goods input tax credits
  • BR Pub 09/05: Coastal permits and certificates of compliance – secondhand goods input tax credits
  • Public ruling BR Pub 09/06: Lease surrender payments received by a landlord – income tax treatment

Legislation and determinations

  • DET 09/03: Amount of honoraria paid to members of the Royal New Zealand Plunket Society (Inc) that shall be regarded as expenditure incurred in production of payment
  • Determination DEP 71: Tax depreciation rates general determination number 71

Legal decisions – case notes

  • Taxpayer should proceed to challenge proceedings when disputing the validity of a notice of response
  • Court of Appeal says omission to act can be aiding or abetting
  • High Court considers issue when a dividend is paid
  • Relitigated decision of the Authority 53

Questions we’ve been asked

  • QB 09/04: The relationship between section 113 of the Tax Administration Act 1994 and the proviso to section 20(3) of the Goods and Services Tax Act 1985 when a registered person has not claimed an input tax deduction in an earlier taxable period
  • QB 09/05: Residential investment property or properties in Australia owned by New Zealand resident – NRWT treatment of interest paid to Australian financial institution