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Vol 29 No 10
01 Nov 2017

TIB - November 2017

In this issue: New legislation - Compensation for Live Organ Donors Act 2016; BR Prd 17/04; QB 17/08; IS 17/08; Special determination S55; General Determination DEP102; Foreign currency amounts - conversion to New Zealand dollars (for the six months ending 30 September 2017); Determinations CFC 2017/01-04; The accounting income method (AIM) for paying provisional tax; Determinations A1-10; Legal decisions - case notes


QB 17/08: Are proceeds from the sale of gold bullion income? published in Tax Information Bulletin Vol 29 No 10 contained an error on page 14 concerning Case Q109 (Board of Review (Australia)).

Under CIR's view of whether s CB 4 would apply the text reads "The amount derived on the sale would similarly be income under s CB 4". This line should read "The amount derived on the sale would not be income under s CB 4."