TIB - August 2012

Interpretation guidelines

• IG 12/01: Goods and services tax; income tax – “sham”

Interpretation statements

• IS 12/01: Income tax – timing of share transfers for the purposes of the continuity provisions
• IS 12/02: Income tax – whether income deemed to arise under tax law, but not trust law, can give rise to beneficiary income
• IS 12/03: Income tax – deductibility of repairs and maintenance expenditure – general principles

New legislation

• Order in Council: FIF deemed rate of return set for 2011–12

Questions we’ve been asked

• QB 12/10: Do the historic depreciation rates continue to apply to grandparented structures acquired before 1 April 2005?
• QB 12/11: Income tax – look-through companies, rental properties and avoidance

Legal decisions – case notes

• Sufficient argument to decline strike-out
• Application for Crown Law to cease to act for Commissioner on Trinity matters