Vol 25 No 11
Issued
02 Dec 2013

TIB - December 2013

Binding rulings

  • BR Pub 13/05–13/06: Income tax – Standard project agreement for a public–private partnership

Legislation and determinations

  • Determination DEP86: Tax depreciation rates general determination number

New legislation

  • Order in Council: Income Tax (Minimum Family Tax Credit) Order 2013

Legal decisions – case notes

  • Application to suspend bankruptcy pending appeal dismissed by the Court of Appeal
  • Commissioner successful in establishing that a section 167(1) trust survives liquidation
  • Intention or purpose of one or more trustees attributable to trust as a whole
  • Challenge of Commissioner’s assessments
  • Trinity investor’s application to set aside the Commissioner’s statutory demand dismissed by High Court
  • Application to stay judgment pending appeal dismissed
  • Taxpayer’s section 89M(11) application dismissed

Corrections

In the item “BR Pub 13/05–13/06: Income tax – Standard project agreement for a public–private partnership”, on page 5, under the subheading “Unitary Charge” the bullet points should read:

  • The Unitary Charge will be assessable income of the SPV under s CB 1.
  • For the purpose of s BD 3, the SPV will derive the Unitary Charge in the income year in which it issues a valid invoice to the Crown.