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Vol 24 No 9
01 Nov 2012

TIB - October 2012

Binding rulings

  • Product ruling BR Prd 12/04: New Zealand Māori Arts and Crafts Institute

Legislation and determinations

  • Determination CFC 2012/03: Non-attributing active insurance CFC status (TOWER Insurance Limited)
  • Determination PROV24: Provisional depreciation rate for mushroom factory buildings and plant
  • Special Determination S22: Application of the financial arrangements rules to a public-private partnership
  • Foreign currency amounts – conversion to New Zealand dollars

New legislation

  • Orders in Council
    • Student loan scheme – contact person details
    • Student loan scheme – repayment percentage
    • Student loan scheme – transitional measures for new borrowers
    • Student loan scheme – volunteer exemption

Questions we’ve been asked

  • QB 12/12: Abusive tax position penalty and the anti-avoidance provision

Legal decisions – case notes

  • Exercise of Court discretion to liquidate insolvent trustee company
  • Consideration of the “evidence exclusion” rule
  • The Supreme Court dismisses Mr Russell’s application for leave to appeal
  • Costs reduced due to arithmetical error
  • Conducting a taxable activity
  • No taxable activity
  • No taxable activity
  • Section 16 – Commissioner’s powers to obtain information
  • Tax avoidance – fraud on a person affected by the arrangement
  • Commissioner successful in her strike-out application
  • Commissioner awarded indemnity costs