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Vol 22 No 1
01 Feb 2010

TIB - February 2010

Binding rulings

  • Public ruling BR Pub 09/08: “Cost price of the vehicle” – meaning of the term for fringe benefit tax purposes
  • Public ruling BR Pub 09/09: Deductibility of break fee paid by a landlord to exit early from a fixed interest rate loan
  • BR Pub 09/10: Deductibility of break fee paid by landlord to vary the interest rate of an existing fixed interest rate loan

New legislation

  • Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009

Legislation and determinations

  • Corrected foreign currency amounts – conversion to New Zealand dollars

Legal decisions – case notes

  • Correction to summary of Supreme Court ruling on “Trinity”
  • Tax on MSD benefit disallowed
  • GST payable on airport development levy
  • Commissioner not restrained from advertising liquidation proceedings
  • GST refunds and section 46 of the Goods and Services Tax Act 1985
  • Judge not disqualified from hearing application to set aside his earlier judgment

Questions we’ve been asked

  • QB 10/01: Reimbursing shareholder-employees for motor vehicle expenses and the use of the Commissioner’s mileage rate