TIB - October 2022

New legislation

• SL2022/233 – Order in Council – Taxation (Use of Money Interest Rates) Amendment Regulations (No 2) 2022
• SL2022/241 – Order in Council – Tax Administration (August Flood Events) Order 2022
• SL2022/244 – Order in Council – Tax Administration (Extension of Notification Deadline for Research and Development Tax Credits) Order 2022
• SL2022/245 – Order in Council – Tax Administration (COVID-19 Response Variations) Order 2022

Rulings

• BR Prd 22/04: Sustainable Mobility Limited (trading as Zilch)
• BR Prd 22/09: Westpac New Zealand Limited

Questions we’ve been asked

• QB 22/06: Deductibility of overseas travel expenses
• QB 22/07: Income Tax and Goods and Services Tax – Treatment of bloodstock breeding

Legal decisions – case summaries

• CSUM 22/03 – Taxation Review Authority reconfirms that backdated ACC weekly compensation is taxed in the year of receipt; s 9 of the NZBORA does not support the Disputant’s position
• CSUM 22/04 – High Court reconfirms that backdated ACC weekly compensation is taxed in the year of receipt