TIB index based from the NZ Tax Information Bulletin - kwister.net
Current Time (NZ)
03:27:19
29 Dec 2024
03:27:19
29 Dec 2024
TIB index based from the NZ Tax Information Bulletin - kwister.net
QB 17/06: Income tax: Insurance - key-person insurance policies
Categories: insuranceQB 17/07: Resident and non-resident withholding taxes: Non-cash dividends
Does the income of a person receiving a non-cash dividend include any resident or non-resident withholding tax paid on the dividend?General Determination DEP100: Depreciation rate for rapid DC car charging stations
The Commissioner has set a general depreciation rate for a new asset class "Rapid DC car charging stations", not currently provided for under the "Transportation" asset category, within the Commissioner's Table of Depreciation Rates.Determination CRS 2017/003: CRS applied standard - excluded account determination - dormant accounts
Categories: crs-applied-standardDetermination CRS 2017/004: CRS applied standard - excluded account determination - a Whai Rawa Unit Trust Fund member's account
Categories: crs-applied-standard, trustDetermination CRS 2017/005: CRS applied standard - excluded account determination - a financial account held by an employee in a share purchase scheme that is referred to in sections DC 12-DC 15 of the Income Tax Act 2007
Categories: crs-applied-standard, trustHigh Court varies a consent order to fund companies' legal fees in respect of criminal proceedings, but not civil proceedings
Honk Marine Ltd and Honk Barges Ltd ('the Companies') applied to vary a consent order which arose from ex parte freezing orders obtained by the Commissioner of Inland Revenue ('the Commissioner'). The Companies applied to access a fund (of $2,081,861.71) held in the Court in order to pay its legal fees for both civil and criminal tax proceedings. The High Court (Brewer J) varied the consent order in respect of the criminal proceedings, but not the civil proceedings.Entitlement to tax sparing credits under the double tax agreement between New Zealand and China
This case concerns an investment held in five companies established in China ('the Chinese Companies') and the tax consequences to the plaintiff, Ms Lin, of that investment. Ms Lin was assessed by attribution for New Zealand tax on a 30 per cent share of the income derived by the Chinese Companies. Ms Lin contends that, in assessing her, the defendant, the Commissioner of Inland Revenue ('the Commissioner'), failed to allow her the full tax credits to which she was entitled under the double tax agreement ('DTA') between New Zealand and China ('the China DTA') and under the related New Zealand domestic law. The Court found that the Commissioner's assessments and default assessments in respect of Ms Lin's income tax are incorrect.A question of standing
Mr Cullen brought a proceeding in relation to a goods and services tax return on behalf of Tamaki Rugby League Incorporated against the Commissioner of Inland Revenue ('the Commissioner'). The Commissioner applied to strike out this proceeding on the basis that, as Tamaki Rugby League Incorporated was struck off the register of incorporated societies at the time of the return and in liquidation at the time the proceedings were brought, Mr Cullen did not have standing. The High Court declined the Commissioner's strike out application, considering it tenable that the proceeding related to the unincorporated version of Tamaki Rugby League Incorporated, and that Mr Cullen could therefore have standing.When crediting is not payment
The Court of Appeal held that crediting an amount to a shareholder's current account in respect of an existing liability in circumstances where there were insufficient funds for the shareholder to draw down the full amount, did not constitute the last payment contingent on the financial arrangement. Thus the arrangement had not matured under the financial arrangement rules ("FAR") and a base price adjustment ("BPA") was not triggered.