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