TIB - November 2013

Interpretation statements

• IS 13/02: Income tax – whether certain rights conferred by the Companies Act 1993 could give rise to a “shareholder decision-making right”

Binding rulings

• Product ruling BR Prd 13/11: Meridian Energy Limited

Legislation and determinations

• Special Determination S24: Application of the financial arrangements rules to the sale of shares in Meridian by the Crown
• Foreign currency amounts – conversion to New Zealand dollars

New legislation

• Order in Council: Information-sharing agreement between Inland Revenue and the Department of Internal Affairs – contact details as part of passport renewal or application process

Questions we’ve been asked

• QB 13/04: Income tax – Retention money

Items of interest

• Update on Public Information Bulletin review

Legal decisions – case notes

• Trinity avoidance scheme
• Outstanding proceedings not a “substantial dispute” for the purpose of setting aside a statutory demand where there are finalised tax challenges