TIB - June 2011

Binding rulings

• Product ruling BR Prd 11/01: StockCo Limited

Legislation and determinations

• CPI adjustment – CPI 11/01 for Determination DET 09/02: Standard-cost household service for childcare providers
• CPI adjustment – CPI 11/02 for Determination DET 05/03: Standard-cost household service for boarding service providers
• National average market values of specified livestock determination 2011

New legislation

• Orders in Council:  FIF deemed rate of return set for 2010–11
• Corrections to commentary on the Taxation (GST and Remedial Matters) Act 2010

Standard practice statements

• SPS 11/04: Compulsory deductions from bank accounts

Operational statements

• 2011 review of the Commissioner’s mileage rate for expenditure incurred for the business use of a motor vehicle

Legal decisions – case notes

• Courier did not buy going concern
• Valid timely NOPA a prerequisite to deemed acceptance
• Court of Appeal dismisses taxpayer’s appeal in relation to an entitlement to de-register from GST
• Commissioner’s application of the serious hardship provisions upheld by the Court of Appeal
• Bias appeal dismissed on the basis of cause of action estoppel
• Exceptional circumstances examined by the Taxation Review Authority