Vol 23 No 3
Issued
01 Apr 2011

TIB - April 2011

Legislation and determinations

  • 2011 International tax disclosure exemption ITR21
  • Determination CFC 2011/01: Non-attributing active insurance CFC status (TOWER Insurance Limited)
  • Determination CFC 2011/02: Non-attributing active insurance CFC status (TOWER Insurance Limited)

Legal decisions – case notes

  • Further and better discovery
  • Deductibility of share losses
  • A further Trinity argument estopped

Questions we’ve been asked

  • QB 11/01: Residential investment property or properties in Australia owned by New Zealand resident – NRWT treatment of interest paid to Australian financial institution
  • QB 11/02: Deductibility of expenditure incurred by bloodstock breeders in respect of horses that they race

Corrections

The 2011 International tax disclosure exemption was incorrectly cited as ITR21 in this issue of the TIB.  This exemption should be cited as “International Tax Disclosure Exemption ITR22”.