TIB - August 2013

 Interpretation statements

• IS 13/01: Tax avoidance and the interpretation of sections BG 1 and GA 1 of the Income Tax Act 2007

Binding rulings

• BR Prd 13/08: Bank of New Zealand

Legislation and determinations

• General depreciation determination DEP85: Buildings with reinforced concrete framing (default class), buildings with steel or steel and timber framing (default class), buildings with timber framing (default class)
• Determination DEP83: Depreciation rates for machinery used for grading, sorting and packing produce

Questions we’ve been asked

• QB 13/03: Goods and services tax – whether a compulsory acquisition of land is a “supply by way of sale”

Legal decisions – case notes

• Interlocutory appeal in advance of substantive hearing
• Taxpayer found to have honestly relied on Inland Revenue forms
• Collateral attack on Supreme Court judgments