Vol 22 No 7
Issued
01 Aug 2010

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