TIB - August 2022

New legislation

• Taxation (Cost of Living Payments) Act 2022

Determination

• COV 22/18: Variation in relation to s 70C of the Tax Administration Act 1994 to extend deadline for filing statements in relation to R & D loss tax credits
• COV 22/19: Variation to section 68CB(2) of the Tax Administration Act 1994

Operational statement

• OS 22/03: Authority to Act for Tax Agents and other Intermediaries and Nominated Persons

Interpretation statement

• IS 22/03: Income tax – Application of the land sale rules to co-ownership changes and changes of trustees

Questions we’ve been asked

• QB 22/05: GST – Does zero-rating apply to certain services that airport operators supply to international airline operators?

Technical decision summaries

• TDS 22/08: Quantum of suppressed income and whether it is dividend or employment income
• TDS 22/09: GST: Private recreational pursuit or hobby, taxable activity
• TDS 22/10: GST – Whether property sale is zero-rated. Time bar.
• TDS 22/11: “Negative income” adjustment, RWT credit, time bar
• TDS 22/12: “Negative income” adjustment – Shortfall penalties