Vol 26 No 1
Issued
01 Feb 2014

TIB - February 2014

Interpretation statements

  • IS 13/03: Income tax – Deductibility of expenditure incurred in borrowing money – section DB 5
  • IS 13/03: Income tax – Deductibility of expenditure incurred in borrowing money – section DB 5 – Transitional operational approach

Legislation and determinations: Correction to depreciation determination PROV25

Questions we’ve been asked: QB 13/05: Income tax – deductibility of a companion’s travel expenses

Legal decisions – case notes

  • Commissioner’s application for strike-out successful
  • Rule in Mannix upheld
  • Resource consent not a stand-alone asset
  • Employee indemnity fund a tax avoidance arrangement
  • Property rental activities a business and not a passive investment
  • Unsuccessful claim for recovery of a statutory debt owing under section 46 of the Goods and Services Tax Act, unsuccessful application for judicial review
  • Proceedings struck out for failing to comply with unless orders
  • Case transfer and consolidation