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Vol 22 No 5
01 Jun 2010

TIB - June 2010

Binding rulings

  • Public ruling BR Pub 10/06: Meaning of “anything occurring on liquidation” when a company requests removal from the register of companies
  • Public rulings BR Pub 10/07: Commissions received by life agents on their own policies and those of associated persons – income tax treatment
  • BR Pub 10/08: Discounted premiums on life insurance policies provided to life agents and associated persons – fringe benefit tax implications

New legislation

  • Orders in Council
    • Parental leave and employment protection – changes to advisor status
    • KiwiSaver first home subsidy

Legislation and determinations

  • CPI Adjustment – CPI 10/01 for Determination DET 09/02: Standard-cost household service for childcare providers
  • CPI Adjustment – CPI 10/02 for Determination DET 05/03: Standard-cost household service for boarding service providers
  • Determination FDR 2010/1: Revocation of Determination FDR 2008/13
  • National average market values of specified livestock determination 2010

Interpretation statements

  • IS 10/02: Meaning of “building” in the depreciation provisions

Legal decisions – case notes

  • Tax disputes not a vehicle for collateral grievances
  • Commissioner to reconsider whether to accept late objection
  • Double Tax Agreement on pensions not discriminatory
  • Struck-off company has no legal capacity
  • Commissioner’s right to withhold payments

Questions we’ve been asked

  • QB 10/03: Fringe benefit tax – Value of motor vehicle previously owned by the employer or by an associated person of the employer