TIB index based from the NZ Tax Information Bulletin - kwister.net
Current Time (NZ)
03:59:21
29 Dec 2024
03:59:21
29 Dec 2024
TIB index based from the NZ Tax Information Bulletin - kwister.net
Order in Council (Croatia / Indonesia)
Croatia and Indonesia were made reportable jurisdictions on 26 February 2018, by the following Order in Council: the Tax Administration (Reportable Jurisdictions for the Application of CRS Standard) Amendment Regulations 2018 (LI 2018/27).BR Pub 18/01-BR Pub 18/05: Income tax - Australian limited partnership and foreign tax credits
These five Public Rulings deal with the ability of a NZ resident partner of an Australian limited partnership to claim foreign tax credits for Australian income tax and dividend withholding tax paid by an Australian limited partnership. They are a reissue of BR Pub 14/01 to 14/05. The Rulings discuss Australian limited partnerships that are corporate limited partnerships for Australian tax purposes and are treated under Australian tax law as companies while in NZ retaining partnership and flow through tax treatment. The Rulings conclude that a foreign tax credit will be available to the NZ partners of an Australian limited partnership for Australian income tax or dividend withholding tax that is paid by the limited partnership in certain situations. While the conclusions do not differ from those reached in BR Pub 14/01 to 14/05, the reissued rulings contain a number of minor changes to reflect amendments to legislation.QB 18/02: Income tax - insurance - term life insurance policy taken out by employee with employer paying the premiums on employee's behalf
This item considers the income tax treatment of a term life insurance policy taken out by an employee for their own benefit where the premiums are paid by the employer. It concludes that the amount of the premiums is deductible to the employer and subject to PAYE for the employee. Lump sums paid out under the policy will not be taxable income of the employee (or the employee's estate).QB 18/03: Income tax - insurance - term life insurance policy taken out by employer for the benefit of an employee
This item considers the income tax treatment of a term life insurance policy taken out by an employer for the benefit of an employee (or their spouse, civil union partner, de facto partner, or child). It concludes that the amount of the premiums is deductible to the employer and subject to FBT. Lump sums paid out under the policy will not be taxable income of the employee (or the employee's estate).QB 18/04: Income tax - insurance - personal sickness and accident insurance taken out by employee with employer paying the premiums on employee's behalf
This item considers the income tax treatment of a personal sickness or accident insurance policy taken out by an employee for their own benefit where the premiums are paid by the employer. It concludes that the amount of the premiums is generally deductible to the employer. Unless the premium paid is for income protection insurance, the amount of the premiums is subject to PAYE for the employee. It also sets out when an amount paid out under the policy will be taxable income of the employee.QB 18/05: Income tax - insurance - personal sickness and accident insurance taken out by employer for the benefit of an employee
This item considers the income tax treatment of a personal sickness or accident insurance policy that is taken out by an employer for the benefit of an employee. It concludes that the amount of the premiums is generally deductible to the employer. Unless the premium paid is for income protection insurance, the premiums paid will be subject to FBT. It also sets out when an amount paid out under the policy will be taxable income of the employee.QB 18/06: Can a registered person issue a combined tax invoice and credit or debit note?
This item confirms you can combine tax invoices, credit notes, and debit notes in a single document as long as they each relate to the different supplies. The item provides a brief summary of when credit notes and debit notes must be issued, together with some examples and accompanying sample documents.Special Determination S36A
This determination varies and replaces Special Determination S36: Application of the financial arrangements rules to a public-private partnership agreement following a change of partners in the limited partnershipSpecial Determination S37A
This determination varies and replaces Special Determination S37: Application of the financial arrangements rules to the D&C Phase of a public-private partnership agreement following a change of partners in the limited partnership.2018 international tax disclosure exemption ITR29
The scope of the 2018 exemption is the same as the 2017 exemptionOrder under s 36 of the Insolvency Act 2006 adjudicating Judgment Debtor bankrupt
The Commissioner of Inland Revenue applied for an order adjudicating Mr Ronald Wilson ('the Judgment Debtor') bankrupt. The Judgment Debtor opposed the application on the ground that it would be just and equitable for the High Court to exercise its discretion under s 37(c) of the Insolvency Act 2006 ('the Act') to refuse to adjudicate him bankrupt. The High Court held that the grounds for refusal of such an order were not made out and accordingly made an order under s 36 of the Act adjudicating the Judgment Debtor bankrupt.High Court confirms the use of the Mannix Rule
Emborion International Ltd ('Emborion') applied to the High Court seeking orders regarding representation during the conduct of the proceeding and substantive hearing, that this matter be heard on the papers and that the Commissioner of Inland Revenue ('the Commissioner') meet all of Emborion’s legal fees and court costs. The Commissioner opposed Emborion's applications. In the High Court, van Bohemen J dismissed all of Emborion's applications.