TIB index based from the NZ Tax Information Bulletin - kwister.net
Current Time (NZ)
03:59:19
29 Dec 2024
03:59:19
29 Dec 2024
TIB index based from the NZ Tax Information Bulletin - kwister.net
Order in Council - Taxation (Use of Money Interest Rates) Amendment Regulations 2022
The use of money interest (UOMI) rate on underpayments of taxes and duties has changed in line with market interest rates. The new underpayment rate is 7.28% (previously 7.00%). The overpayment rate remains at 0%.Order in Council - Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations 2022
The FBT rules tax non-cash benefits provided to employees. Included in the definition of ‘fringe benefit’ is any employment related loan on which the employer is charging a rate of interest that is below the market rate. The interest differential is taxable. A prescribed rate set by regulations is used as a proxy for the market rate of interest to save employers the compliance costs associated with determining the market rate relevant to loans they have provided to their employees.Order in Council - Income Tax (Deemed rate of return on Attributing Interests in Foreign Investment Funds, 2021-22 income year) Order 2022
The deemed rate of return for taxing interests in foreign investment funds is 6.01% for the 2021–22 income year, up from 4.43% for the previous income yearNational Average Market Values of Specified Livestock Determination 2022
As the name of this determination suggests, NAMVs provide the national average market value for the specified livestock classes. As such they may not always reflect the market value of the livestock of a particular taxpayer, or even of a particular region. This being so, the values are not intended to be used for any other purpose than that for which they are produced; valuing livestock of taxpayers who have elected to value their livestock under the herd scheme in the income year for which the determination relates.BR Pub 22/06: Fringe Benefit Tax – Charitable and Other Donee Organisations and Fringe Benefit Tax
The Arrangement is the provision of a non-monetary benefit by a charitable or other donee organisation, not being a local authority, public authority or university, (the qualifying organisation) to an employee of that organisationBR Pub 22/07: Goods and Services Tax – Importers and input tax deductions
This Ruling applies in respect of ss 20(3)(a)(ii), 75 and the definition of “invoice” in s 2 of the Goods and Services Tax Act 1985.Notice of Withdrawal of Public Ruling BR PUB 06/03
Categories: binding-ruling, goods-and-services-tax, government-department-customs, importersQB 22/03: GST – Customs brokers and GST levied by Customs
Can a customs broker treat GST they pay to the New Zealand Customs Service (Customs) on behalf of their importer clients as part of their taxable activity when accounting for GST?QB 22/04: GST – Importers and recalculated GST
Can an importer who overpays GST to the New Zealand Customs Service (Customs) claim an input tax deduction for the whole of the GST paid?OS 19/04 (KM 2022): Kilometre rates for the business use of vehicles for the 2022 income year
In accordance with s DE 12(4) the Commissioner is required to set and publish kilometre rates. These rates can be used to calculate expenditure claims for the business use of a motor vehicle. They may also be used by employers as a reasonable estimate for reimbursement of expenditure incurred by employees for the use of a private motor vehicle for business purposes.TDS 22/05: Whether weathertightness payments by the Crown are subject to GST
Categories: goods-and-services-tax, grants-and-subsidies, weathertightness-paymentsTDS 22/07: Income tax, controlled foreign company, double tax agreement, shortfall penalties
Categories: controlled-foreign-company-(cfc), double-taxation-agreement, income-tax, shortfall-penalty