TIB - July 2010

Legislation and determinations

• Determination FDR 2010/02: Use of fair dividend rate method for a type of attributing interest in a foreign investment fund
• Categories of taxpayers who need to request a personal tax summary

Operational statements

• 2010 review of the commissioner’s mileage rate for expenditure incurred for the business use of a motor vehicle

Interpretation statements

• IS 10/03: GST: Time of supply – payments of deposits, including to a stakeholder

Legal decisions – case notes

• High Court finds tax avoidance in an arrangement to develop and sell software
• Judicial review: The Commissioner’s powers under sections 16 and 16B of the Tax Administration Act 1994

Questions we’ve been asked

• QB 09/06: GST – apportionment of the cost of bare land for the purposes of a change-in-use adjustment
• QB 10/04: Shortfall penalty for evasion or a similar act – knowledge required and Interpretation Statement IS0062

Items of interest

• Making tax easier – Government consultation June 9 to 23 July 2010