TIB - February 2019

Product rulings

• BR Prd 18/06: Industrial and Commercial Bank of China (New Zealand) Limited
• BR Prd 18/07: Millwood Forest LP and others

Interpretation statement

IS 18/07: Goods and services tax - zero-rating of services related to land

Questions we’ve been asked

• QB 18/15: GST – When will goods and services supplied in connection with the repatriation of human remains from New Zealand be zero-rated?
• QB 18/16: Income tax - bright-line test - main home exclusion - sale of subdivided section
• QB 18/17: Income tax - bright-line test - farmland and main home exclusions - sale of lifestyle blocks

Legislation and determinations

Determination DET 18-02: Amount of honoraria paid to Royal New Zealand Plunket Trust volunteers that shall be regarded as expenditure incurred in production of that payment

Legal decisions – case notes

• Court of Appeal holds that expenditure incurred in deriving dividends is deductible pursuant to s DB 55 of the Income Tax Act 2007
• Application to appeal decisions relating to proceedings that have been struck out
• High Court grants third party access to Court file