Vol 24 No 8
Issued
01 Sep 2012

TIB - September 2012

Items of interest

  • Instalment arrangements for provisional tax

Binding rulings

  • Product ruling BR Prd 12/01: AA Smartfuel Programme
  • Product ruling BR Prd 12/03: Newmont Mining Amenity Effect Programme

Legislation and determinations

  • Determination CFC 2012/01: Non-attributing active insurance CFC status (TOWER Insurance Limited)
  • Determination CFC 2012/02: Non-attributing active insurance CFC status (TOWER Insurance Limited)

Operational statements

  • 2012 review of the Commissioner’s mileage rate for expenditure incurred for the business use of a motor vehicle

Legal decisions – case notes

  • Rental property partnership a business
  • Onus on taxpayer
  • Statement of position response period
  • Accrual rules – applied to reinsurance treaties
  • Strike out declined