TIB index based from the NZ Tax Information Bulletin - kwister.net
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03:58:52
29 Dec 2024
03:58:52
29 Dec 2024
TIB index based from the NZ Tax Information Bulletin - kwister.net
Is 14/01: TAX RESIDENCE - TRANSITIONAL OPERATIONAL POSITION
The Interpretation Statement applies from 1 April 2014. This means that when a taxpayer is deciding whether they are a New Zealand tax resident who needs to file an income tax return for the tax year ended 31 March 2015 and later years, they need to consider the analysis contained in the Interpretation Statement, and apply it to the relevant tax year. There may be some situations in which the new Interpretation Statement gives a different result from application of the earlier PIB No 180IS 14/01: TAX RESIDENCE
This Interpretation Statement explains the residence rules in the Income Tax Act 2007, and applies from 1 April 2014.IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS)
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - Flowchart - how to establish if an individual is tax resident in New Zealand
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - Permanent place of abode
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - The day-count rules
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - The 183-day rule
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - Non-resident seasonal workers
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - The 325-day rule
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - Relationship between the permanent place of abode test and the day-count rules
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - Government service rule
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - Transitional resident rules
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - Changes in residence
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - ANALYSIS PART 1: RESIDENCE OF NATURAL PERSONS (INDIVIDUALS) - Relevance of double taxation agreements
An individual is a New Zealand resident if they are personally present in New Zealand for more than 183 days in total in a 12-month period (s YD 1(3)) ('the 183-day rule'). The person will then be treated as resident from the first of those 183 days (s YD 1(4)). A person is also resident if they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode elsewhere (s YD 1(2)).IS 14/01: TAX RESIDENCE - PART 2: RESIDENCE OF COMPANIES
A company may easily satisfy more than one, or even all, of these tests. Such a company will clearly be resident in New Zealand. However, it is noted that the tests are alternatives, and a company only needs to satisfy one of them to be resident here.IS 14/01: TAX RESIDENCE - PART 2: RESIDENCE OF COMPANIES - Company definition
A company may easily satisfy more than one, or even all, of these tests. Such a company will clearly be resident in New Zealand. However, it is noted that the tests are alternatives, and a company only needs to satisfy one of them to be resident here.IS 14/01: TAX RESIDENCE - PART 2: RESIDENCE OF COMPANIES - Place of incorporation test
A company may easily satisfy more than one, or even all, of these tests. Such a company will clearly be resident in New Zealand. However, it is noted that the tests are alternatives, and a company only needs to satisfy one of them to be resident here.IS 14/01: TAX RESIDENCE - PART 2: RESIDENCE OF COMPANIES - Head office test
A company may easily satisfy more than one, or even all, of these tests. Such a company will clearly be resident in New Zealand. However, it is noted that the tests are alternatives, and a company only needs to satisfy one of them to be resident here.IS 14/01: TAX RESIDENCE - PART 2: RESIDENCE OF COMPANIES - Centre of management test
A company may easily satisfy more than one, or even all, of these tests. Such a company will clearly be resident in New Zealand. However, it is noted that the tests are alternatives, and a company only needs to satisfy one of them to be resident here.IS 14/01: TAX RESIDENCE - PART 2: RESIDENCE OF COMPANIES - Director control test
A company may easily satisfy more than one, or even all, of these tests. Such a company will clearly be resident in New Zealand. However, it is noted that the tests are alternatives, and a company only needs to satisfy one of them to be resident here.IS 14/01: TAX RESIDENCE - PART 2: RESIDENCE OF COMPANIES - Changes in company residence
A company may easily satisfy more than one, or even all, of these tests. Such a company will clearly be resident in New Zealand. However, it is noted that the tests are alternatives, and a company only needs to satisfy one of them to be resident here.IS 14/01: TAX RESIDENCE - PART 2: RESIDENCE OF COMPANIES - Dual resident companies
A company may easily satisfy more than one, or even all, of these tests. Such a company will clearly be resident in New Zealand. However, it is noted that the tests are alternatives, and a company only needs to satisfy one of them to be resident here.IS 14/01: TAX RESIDENCE - PART 2: RESIDENCE OF COMPANIES - Residence of foreign companies
A company may easily satisfy more than one, or even all, of these tests. Such a company will clearly be resident in New Zealand. However, it is noted that the tests are alternatives, and a company only needs to satisfy one of them to be resident here.IS 14/01: TAX RESIDENCE - PART 3: RESIDENCE AND TRUSTS
Trusts are not treated as separate entities for income tax purposes. Consequently, there are no rules in the Act governing the residence of trusts. The residence of the persons connected with the trust, ie, the settlor, trustee and beneficiary, determines the treatment of trust incomeIS 14/01: TAX RESIDENCE - PART 3: RESIDENCE AND TRUSTS - Trustee income and beneficiary income
Trusts are not treated as separate entities for income tax purposes. Consequently, there are no rules in the Act governing the residence of trusts. The residence of the persons connected with the trust, ie, the settlor, trustee and beneficiary, determines the treatment of trust incomeIS 14/01: TAX RESIDENCE - PART 3: RESIDENCE AND TRUSTS - Trustee income and beneficiary income
Trusts are not treated as separate entities for income tax purposes. Consequently, there are no rules in the Act governing the residence of trusts. The residence of the persons connected with the trust, ie, the settlor, trustee and beneficiary, determines the treatment of trust incomeIS 14/01: TAX RESIDENCE - PART 3: RESIDENCE AND TRUSTS - Settlor residence
Trusts are not treated as separate entities for income tax purposes. Consequently, there are no rules in the Act governing the residence of trusts. The residence of the persons connected with the trust, ie, the settlor, trustee and beneficiary, determines the treatment of trust incomeIS 14/01: TAX RESIDENCE - PART 3: RESIDENCE AND TRUSTS - Trustee residence
Trusts are not treated as separate entities for income tax purposes. Consequently, there are no rules in the Act governing the residence of trusts. The residence of the persons connected with the trust, ie, the settlor, trustee and beneficiary, determines the treatment of trust incomeIS 14/01: TAX RESIDENCE - PART 3: RESIDENCE AND TRUSTS - Beneficiary residence
Trusts are not treated as separate entities for income tax purposes. Consequently, there are no rules in the Act governing the residence of trusts. The residence of the persons connected with the trust, ie, the settlor, trustee and beneficiary, determines the treatment of trust incomeIS 14/01: TAX RESIDENCE - PART 3: RESIDENCE AND TRUSTS - Changes in residence
Trusts are not treated as separate entities for income tax purposes. Consequently, there are no rules in the Act governing the residence of trusts. The residence of the persons connected with the trust, ie, the settlor, trustee and beneficiary, determines the treatment of trust income2014 INTERNATIONAL TAX DISCLOSURE EXEMPTION ITR25
Section 61(1) of the TAA states that a person who has a control or income interest in a foreign company or an attributing interest in a foreign investment fund ('FIF') at any time during the income year must disclose the interest held. However, section 61(2) of the TAA allows the Commissioner of Inland Revenue to exempt any person or class of persons from this requirement if disclosure is not necessary for the administration of the international tax rules (as defined in section YA 1) contained in the Income Tax Act 2007 ('the ITA').2014 INTERNATIONAL TAX DISCLOSURE EXEMPTION ITR25 - PERSONS NOT REQUIRED TO COMPLY WITH SECTION 61 OF THE TAX ADMINISTRATION ACT 1994
This exemption is made under section 61(2) of the Tax Administration Act 1994. It details interests in foreign companies and attributing interests in FIFs in relation to which any person is not required to comply with the requirements in section 61 of the Tax Administration Act 1994 to make disclosure of their interests, for the income year ended 31 March 2014.QB 14/01: INCOME TAX - ADJUSTMENTS FOR TRADING STOCK (INCLUDING RAW MATERIALS) TAKEN FOR OWN USE OR CONSUMPTION
This item replaces the item 'Value of produce used' published in Public Information Bulletin No 29 (February 1966), at p 7, which relates to assessing a farmer for produce taken from his or her farm for own consumption. The current relevance of this item was identified during a review of Public Information Bulletins and Tax Information Bulletins published before 1996. For more information about the review, see 'Review of Public Information Bulletins' Tax Information Bulletin Vol 23, No 1 (February 2011), at p 116OVERSEAS CONTRACTOR FOUND TO HAVE A PERMANENT PLACE OF ABODE IN NEW ZEALAND
This was a case about tax residency and whether the disputant continued to be a New Zealand tax resident in the four years after he left New Zealand to work overseas. The Commissioner of Inland Revenue ('the Commissioner') considered that the disputant was a New Zealand tax resident for the first four years he was working overseas because he had a permanent place of abode in New Zealand. The disputant argued that he did not have a permanent place of abode in New Zealand during this period.APPLICATION FOR JUDICIAL REVIEW OF A DECISION OF THE TAXATION REVIEW AUTHORITY
The applicant sought judicial review of the Taxation Review Authority's decision, in a preliminary hearing, that the Commissioner of Inland Revenue's Statement of Position ('SOP') was within the response period as stipulated in section 89AB9(5) of the Tax Administration Act 1994. The application for judicial review claimed that the Taxation Review Authority had erred in law in coming to that decision. Justice Woolford declined the application both as a matter of discretion, and on its merits.SUPREME COURT GRANTS LEAVE TO APPEAL IN PAYE TRUST CASE
The Supreme Court has granted leave to Jennings Roadfreight Limited (in liquidation) to appeal the decision of the Court of Appeal.