Vol 23 No 5
Issued
01 Jun 2011

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