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Vol 23 No 4
01 May 2011

TIB - May 2011

Items of interest

  • Income tax treatment of unsuccessful software development

Legislation and determinations

  • Special determination S18: Issue of perpetual non-cumulative shares by NZ Co, and related transactions
  • Depreciation determination DEP77: Motor vehicles rented for short-term periods of one month or less
  • Foreign currency amounts – conversion to New Zealand dollars

Legal decisions – case notes

  • Persistent litigant discouraged
  • Commissioner’s evasion assessments upheld
  • High Court finds in favour of retrospective departure orders
  • Unclaimed money payable to Commissioner