Vol 22 No 10
Issued
01 Nov 2010

TIB - November 2010

Binding rulings

  • BR Pub 10/10–10/13: Local authority rates apportionments on property transactions – goods and services tax implications

Interpretation statements

  • Background to Interpretation Statement IS 10/07
  • IS 10/07: Care and management of the taxes covered by the Inland Revenue Acts – section 6A(2) and (3) of the Tax Administration Act 1994

New legislation

  • Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010

Legal decisions – case notes

  • Commissioner partially successful on appeal
  • JG Russell unsuccessful in appeal of his personal tax assessments
  • Sale of share in a company which gives right to a lease is not a going concern
  • Arrangement seen as tax avoidance