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Vol 24 No 7
01 Aug 2012

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