TIB index based from the NZ Tax Information Bulletin - kwister.net
Current Time (NZ)
14:38:42
04 Apr 2025
14:38:42
04 Apr 2025
TIB index based from the NZ Tax Information Bulletin - kwister.net
PUBLIC RULING BR PUB 15/04: INTEREST DEDUCTIBILITY - FUNDS BORROWED BY A PARTNERSHIP TO RETURN CAPITAL CONTRIBUTIONS TO A PARTNER
This Ruling applies in respect of s DB 6. Specifically, this Ruling applies the replacement and repayment principle in FC of T v Roberts; FC of T v Smith 92 ATC 4,380 (the Roberts and Smith principle).PUBLIC RULING BR PUB 15/05: INTEREST DEDUCTIBILITY - FUNDS BORROWED BY A PARTNERSHIP TO RETURN PAST YEARS' PROFITS TO A PARTNER
This Ruling applies in respect of s DB 6. Specifically, this Ruling applies the replacement and repayment principle in FC of T v Roberts; FC of T v Smith 92 ATC 4,380 (the Roberts and Smith principle)PUBLIC RULING BR PUB 15/06: INTEREST DEDUCTIBILITY - FUNDS BORROWED BY A COMPANY TO REPURCHASE SHARES
This Ruling applies in respect of s DB 6. Specifically, this Ruling applies the replacement and repayment principle in FC of T v Roberts; FC of T v Smith 92 ATC 4,380 (the Roberts and Smith principle).PUBLIC RULING BR PUB 15/07: INTEREST DEDUCTIBILITY - FUNDS BORROWED BY A COMPANY TO PAY DIVIDENDS
This Ruling applies in respect of s DB 6. Specifically, this Ruling applies the replacement and repayment principle in FC of T v Roberts; FC of T v Smith 92 ATC 4,380 (the Roberts and Smith principle).PUBLIC RULING BR PUB 15/08: INTEREST DEDUCTIBILITY - FUNDS BORROWED TO REPAY DEBT
This Ruling applies in respect of s DB 6. Specifically, this Ruling applies the replacement and repayment principle in FC of T v Roberts; FC of T v Smith 92 ATC 4,380 (the Roberts and Smith principle).PUBLIC RULING BR PUB 15/09: INTEREST DEDUCTIBILITY - FUNDS BORROWED TO MAKE A PAYMENT TO A GROUP COMPANY UNDER SECTION IC 5
The Arrangement is the borrowing of funds by a company to make a payment under s IC 5 (Company B using Company A's tax loss) to another company that has a net loss. Interest is incurred on the borrowed funds and the company is unable to claim a deduction under s DB 7 (Interest: most companies need no nexus with income).ORDER IN COUNCIL PRIVACY (INFORMATION SHARING AGREEMENT BETWEEN INLAND REVENUE AND NEW ZEALAND POLICE) AMENDMENT ORDER 2015
The Privacy (Information Sharing Agreement Between Inland Revenue and New Zealand Police) Amendment Order 2015 amends an existing information sharing agreement between Inland Revenue and the New Zealand Police. Under the agreement, Inland Revenue can share personal information with the New Zealand Police for the prevention, detection, investigation of, or to use as evidence of, a serious crimeTAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015
The new legislation allows eligible KiwiSaver members to withdraw their member tax credits when purchasing a new home, and corrects errors in the tax, social policy and KiwiSaver treatment of income replacement payments paid under the Veterans' Support Act 2014TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - WITHDRAWAL OF MEMBER TAX CREDITS FOR FIRST HOMES
The principal measure allows eligible KiwiSaver members who are withdrawing their funds to purchase their first home to withdraw their member tax credits as well.TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - KIWISAVER WITHDRAWALS FOR FIRST HOME BUYERS
The KiwiSaver Act 2006 has been amended so a KiwiSaver first home withdrawal amount can be used to make payments before the purchase agreement on a new home goes unconditional (to pay a deposit, for example).TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - FIRST HOME WITHDRAWAL ONLY AVAILABLE FOR NEW ZEALAND HOMES
The first home withdrawal rules were previously silent on where a house could be bought. The only New Zealand based restriction was a requirement that a member's funds were paid to a practitioner who holds a New Zealand practising certificate. The new rules make it clear that the withdrawal can only be made for the purchase of an estate in land located in New Zealand.TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - FIRST HOME WITHDRAWAL AVAILABLE FOR HOMES ON MAORI LAND
Changes have been made to make it clear that a first home withdrawal under the KiwiSaver member rules is available to purchase or build a home on Maori land.TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - COMPLYING SUPERANNUATION FUND MEMBERSHIP
The previous first home withdrawal rules included an eligibility period of at least three years in one or more KiwiSaver schemes. The rules have been extended to recognise previous membership in any complying superannuation fund of three years or more as counting towards the three years eligibility period for a first home withdrawal.TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - TRANS-TASMAN PORTABILITY ARRANGEMENTS
New rules that apply to trans-Tasman portability of savings make it clear that they apply only to the ability to withdraw funds upon permanent emigration and are not an exception to the other KiwiSaver early withdrawal provisions.TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - PROTECTION FROM NON COMPLIANCE
The Taxation (KiwiSaver HomeStart and Remedial Matters) Act 2015 made changes to the KiwiSaver Act 2006 on 1 April 2015. Section 239 ensures that KiwiSaver providers are not at risk of being in breach of securities law for documents that had already been issued or issued before 1 June 2015.TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - VETERAN INCOME REPLACEMENT PAYMENTS
The new Act introduces amendments to the Income Tax Act 2007 and the KiwiSaver Act 2006 that correct the tax, social policy and KiwiSaver treatment of income replacement payments paid under the Veterans' Support Act 2014. The corrections ensure the payments are treated the same as ACC earnings-related 'weekly compensation' payments for tax, social policy and KiwiSaver purposes.TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - TAX TREATMENT OF INCOME REPLACEMENT PAYMENTS
Amendments have been made to sections CF 1 and CW 28 of the Income Tax Act 2007 to ensure veteran income replacement payments are treated as taxable income.TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - PAYE AND KIWISAVER TREATMENT OF INCOME REPLACEMENT PAYMENTS
Amendments have been made to section RD 5 of the Income Tax Act 2007 to ensure veteran income replacement payments are subject to PAYE, and KiwiSaver deductions can be made from the payments.TAXATION (KIWISAVER HOMESTART AND REMEDIAL MATTERS) ACT 2015 - CRITERIA FOR EARNINGS-RELATED WORKING FOR FAMILIES TAX CREDITS
An amendment has been made to section MA 7 of the Income Tax Act 2007 to ensure the surviving spouse or partner of a deceased veteran can continue to claim the deceased veteran's full-time earner-related Working for Families tax credits.CPI ADJUSTMENT 15/01 FOR DETERMINATION DET 09/02: STANDARD COST HOUSEHOLD SERVICE FOR CHILDCARE PROVIDERS
Categories: childcare, standard-costCPI ADJUSTMENT 15/02 FOR DETERMINATION DET 05/03: STANDARD COST HOUSEHOLD SERVICE FOR BOARDING SERVICE PROVIDERS
Categories: boarding-service-provider, cpi-consumers-price-index, standard-costSPECIAL DETERMINATION S35: VALUATION OF SHARES ISSUED BY BANK FOLLOWING A CONVERSION EVENT
This determination relates to a funding transaction involving the issue of Notes by Bank to Issuer. The Notes will contain a conversion mechanism, in order to allow them to be recognised as Additional Tier 1 capital for the purposes of the Reserve Bank of New Zealand (RBNZ) framework relating to the capital adequacy of banks.NATIONAL AVERAGE MARKET VALUES OF SPECIFIED LIVESTOCK DETERMINATION 2015
This determination may be cited as 'The National Average Market Values of Specified Livestock Determination, 2015'. This determination is made in terms of section EC 15 of the Income Tax Act 2007 and shall apply to specified livestock on hand at the end of the 2014-2015 income yearDISPUTANT'S APPLICATION FOR FILING CHALLENGE OUT OF TIME DECLINED
This is a decision of the Taxation Review Authority ('TRA') declining the disputant's application for an extension of time for filing challenge proceedings in relation to default assessments made by the Commissioner of Inland Revenue ('the Commissioner').HIGH COURT STRIKES OUT JUDICIAL REVIEW, FINDING IT TO BE AN ABUSE OF PROCESS
The High Court struck out John George Russell's ('Mr Russell') application for judicial review of the Commissioner of Inland Revenue's ('the Commissioner') decision declining his payment proposalsTRA CONSIDERS IT HAS NO JURISDICTION TO CONSIDER GST PERIODS
Categories: goods-and-services-tax, tax-periodsNOTICE OF DEFENCE NOT NECESSARY WHEN FILING AN APPLICATION TO STRIKE OUT
Categories: jurisdiction-protest, notice-of-defence, strike-out-application