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Vol 22 No 3
01 Apr 2010

TIB - April 2010

Binding rulings

  • Product ruling BR Prd 10/01

New legislation

  • Order in Council: Student loan scheme – volunteer exemption

Legislation and determinations

  • 2010 International tax disclosure exemption ITR21

Legal decisions – case notes

  • $5 million of “loans” found to be income after all
  • Allocated salary important when considering “objective test” in tax avoidance cases
  • Application to commence challenge proceeding under section 138D of the Tax Administration Act 1994
  • Compromise proposals fail to convince Court