TIB - October/November 2009

Binding rulings

Legislation and determinations

FDR 2009/03: A type of attributing interest in a foreign investment fund for which a person may not use the fair dividend rate method (PIMCO Funds: Global Investors Series plc Global Bond Fund)
FDR 2009/5: Use of fair dividend rate method for a type of attributing interest in a foreign investment fund that is a derivative income trust
Cancellation of Determination G30: Debt securities, finance leases and hire purchase agreements denominated in New Zealand dollars
Foreign currency amounts – conversion to New Zealand dollars

Legal decisions – case notes

Commissioner entitled to discovery
Application of High Court orders stayed by Court of Appeal
Legal expenses non-deductible
Court of Appeal says Privacy Council decision in relation to bank cheques and drafts binding
Avoidance arrangement and Commissioner’s reconstruction confirmed
Judicial Review action against Commissioner struck out because disputes process not followed
Reparation and section 109 of the Tax Administration Act 1994
No right of appeal from Taxation Review Authority’s interlocutory decisions
Challenge to jurisdiction of Taxation Review Authority fails
Entitlement to deregister from GST and decision on whether or not a sale was planned results in partial win for the Commissioner

Part II: New legislation

Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009