TIB index based from the NZ Tax Information Bulletin - kwister.net
Current Time (NZ)
03:58:45
29 Dec 2024
03:58:45
29 Dec 2024
TIB index based from the NZ Tax Information Bulletin - kwister.net
The COVID-19 Resurgence Support Payments Scheme (August 2021) Amendment Order (No 6) 2021
The COVID-19 Resurgence Support Payments Scheme (August 2021) Amendment Order (No 6) 2021 which amended the COVID-19 Resurgence Support Payments Scheme (August 2021) Order 2021 (the August Order) has now come into force.The COVID-19 Resurgence Support Payments Scheme (August 2021) Amendment Order (No 7) 2021
The COVID-19 Resurgence Support Payments Scheme (August 2021) Amendment Order (No 7) 2021 came into force on 10 December 2021. This Order amended the COVID-19 Resurgence Support Payments Scheme (August 2021) Order 2021 (the August Order) to:FDR 2021/04: FIF Determination – Dimensional Trusts – Global Bond Sustainability Trust NZD Class
Any investment by a New Zealand resident investor in the NZD class of units of the Dimensional Trusts Global Bond Sustainability Trust, to which none of the exemptions in section EX 29 to 43 of the Income Tax Act 2007 apply, is a type of attributing interest for which the investor may not use the fair dividend rate method to calculate foreign investment fund income for the interestCOV 21/06: Variation in relation to the definition of finance lease in s YA 1 of the Income Tax Act 2007
The Commissioner of Inland Revenue has, under the discretion provided under section 6I of the Tax Administration Act 1994, made the following statutory variation:FX 21/01: Foreign exchange rates
Categories: currency, foreign-currency, foreign-exchangeCFC 2021/01: Non-attributing active insurance CFC status (Tower Limited)
A person has no attributed CFC income or loss from a CFC under sections CQ 2 and DN 2 of the Income Tax Act 2007 if the CFC is a non-attributing active CFC under section EX 21B of the Income Tax Act 2007 because the requirements of sections CQ 2(1) (h) and DN 2(1)(h) are not satisfied.CFC 2021/02: Non-attributing active insurance CFC status (Tower Limited)
A person has no attributed CFC income or loss from a CFC under sections CQ 2 and DN 2 of the Income Tax Act 2007 if the CFC is a non-attributing active CFC under section EX 21B of the Income Tax Act 2007 because the requirements of sections CQ 2(1) (h) and DN 2(1)(h) are not satisfied.CFC 2021/03: Non-attributing active insurance CFC status (Tower Limited)
A person has no attributed CFC income or loss from a CFC under sections CQ 2 and DN 2 of the Income Tax Act 2007 if the CFC is a non-attributing active CFC under section EX 21B of the Income Tax Act 2007 because the requirements of sections CQ 2(1) (h) and DN 2(1)(h) are not satisfied.CFC 2021/04: Non-attributing active insurance CFC status (Tower Limited)
A person has no attributed CFC income or loss from a CFC under sections CQ 2 and DN 2 of the Income Tax Act 2007 if the CFC is a non-attributing active CFC under section EX 21B of the Income Tax Act 2007 because the requirements of sections CQ 2(1) (h) and DN 2(1)(h) are not satisfied.CFC 2021/05: Non-attributing active insurance CFC status (Tower Limited)
A person has no attributed CFC income or loss from a CFC under sections CQ 2 and DN 2 of the Income Tax Act 2007 if the CFC is a non-attributing active CFC under section EX 21B of the Income Tax Act 2007 because the requirements of sections CQ 2(1) (h) and DN 2(1)(h) are not satisfied.OS 21/04: Non-resident employers' obligations to deduct PAYE, FBT and ESCT in cross-border employment situations
Operational statements set out the Commissioner’s view of the law in respect of the matter discussed and deal with the practical issues arising out of the administration of the Inland Revenue Acts. This Statement discusses and provides guidance on the approach to take with regards to a non-resident employers’ obligations to deduct PAYE, FBT and ESCT in certain cross-border employment situations.IS 21/09: Income tax - foreign tax credits - how to calculate a foreign tax credit
New Zealand residents are taxed on their worldwide income. A New Zealand resident who derives assessable income from a foreign source may be entitled to a foreign tax credit for foreign income tax paid on that income. The process for calculating a foreign tax credit is set out in subpart LJ of the Income Tax Act 2007 (the Act). The purpose of subpart LJ is to prevent the double taxation of foreign-sourced income.QB 21/11: Elections not to depreciate commercial buildings
The depreciation rate for buildings with a useful life of at least 50 years was reduced to 0% from 1 April 2011, the start of the 2012 tax year. With effect from the 2021 income year, the ability of taxpayers to claim a depreciation loss on the commercial buildings they own was reinstated, at a rate of 2% (using the diminishing value (DV) method) or 1.5% (using the straight-line (SL) method). Given this change, what are the consequences for taxpayers who elected, before the 2012 income year, to treat their commercial building as not being depreciable property and so not claim the relevant depreciation loss?TDS 21/05: GST - Input tax deductions, penalties
Categories: goods-and-services-tax-input-tax-deductions, shortfall-penalty, taxable-incomeTDS 21/06: Exempt income and R&D credits
Categories: income-exempt, r&d-tax-credit