TIB - November 2014

Binding rulings

• Public ruling BR Pub 14/07: Deductibility – Interest repayments required as a result of the early repayment of a financial arrangement
• Public ruling BR Pub 14/08: Income tax – Timing of disposal and derivation of income from trading stock Product ruling
• BR Prd 14/09: Rabo Capital and Rabobank Nederland
• Extension of public ruling BR Pub 08/03: Projects to reduce emissions programme – Income tax treatment
• Decision not to reissue public ruling BR Pub 08/04: Projects to reduce emissions programme – GST treatment

Questions we’ve been asked

• QB 14/10: GST – Whether a binding contract always establishes a transaction giving rise to a supply for section 9(1) purposes

Legislation and determinations

• Foreign currency amounts – conversion to New Zealand dollars

Legal decisions – case notes

• “Other revenues” does not include capital amounts
• Appeal struck out
• High Court guidance on GST “associated persons” test
• Application for extension of time dismissed
• Application for discovery dismissed by the High Court