TIB - August 2010

New legislation

• Taxation (Budget Measures) Act 2010

Legislation and determinations

• Determination s16: Financial arrangement income or expenditure from certain retirement village arrangements
• Equestrian arenas: consisting of permanent construction materials – depreciation

Interpretation statements

• IS 10/04: Non-resident contractor schedular payments

Legal decisions – case notes

• Stay of liquidation pending appeal of compromise application refused
• Judicial review of assessments refused
• Income splitting ruled by Court of Appeal as tax avoidance
• Contractor not a party to a sham
• Discovery rights remain notwithstanding the evidence exclusion rule
• Leave to address consequential matters in a decision is not a substitute for an appeal
• Taxpayer fails in attempt to re-litigate claim

Standard practice statements

• SPS 10/01: Recording Inland Revenue interviews
• SPS 10/02: Imaging of electronic storage media
• SPS 10/03: Acceptance of late objections under section 92(2) of the Child Support Act 1991

Questions we’ve been asked

• QB 10/05: Section 78(3) of the Goods and Services Tax Act 1985