Vol 26 No 2
Issued
01 Mar 2014

TIB - March 2014

Binding rulings: Correction to “BR Pub 13/05–13/06: Income tax – Standard project agreement for a public–private partnership”

Legislation and determinations

  • Livestock values – 2014 national standard costs for specified livestock
  • Determination FDR 2014/01: A type of attributing interest in a foreign investment fund for which a person may not use the fair dividend rate method (Russell Investment Company plc: NZDH-A class shares)
  • Determination CFC 2014/01: Non-attributing active insurance CFC status (CIGNA APAC Holdings Limited)
  • Determination CFC 2014/02: Non-attributing active insurance CFC status (CIGNA APAC Holdings Limited)

Legal decisions – case notes

  • Appeal struck out for failure to pay security for costs
  • Residency – RWT and approved issuer levy
  • Application to set aside freezing order granted and indemnity costs awarded against Commissioner
  • Sovereign’s appeal dismissed by the Court of Appeal
  • Liquidation triggers statutory set-off; set-off not a “transaction” for the purposes of the voidable transaction provisions
  • High Court finds no jurisdiction to judicially review the Commissioner’s reassessment of goods and services tax
  • High Court grants Commissioner’s application to transfer a challenge filed in the Taxation Review Authority to the High Court
  • TRA clarifies scope of “control by any other means whatsoever” associated persons test
  • Commissioner’s statutory demands upheld
  • Indemnity costs awarded to the Commissioner
  • Indemnity costs awarded to the Commissioner
  • Taxpayer unsuccessful in application for order allowing purported objections