TIB index based from the NZ Tax Information Bulletin - kwister.net
Current Time (NZ)
03:17:12
29 Dec 2024
03:17:12
29 Dec 2024
TIB index based from the NZ Tax Information Bulletin - kwister.net
GENERAL DEPRECIATION DETERMINATION DEP94: CARPORTS
This determination applies from the 2015 and subsequent income years.GENERAL DEPRECIATION DETERMINATION DEP95: RAIL PASSENGER SERVICE ELECTRIC MULTIPLE UNITS
This determination applies from the 2015 and subsequent income years.SPECIAL DETERMINATION S39: VALUATION OF SHARES ISSUED BY BANK FOLLOWING A NON-VIABILITY TRIGGER EVENT
This determination relates to a funding transaction involving the issue of Notes by Bank to Parent. The Notes will contain a conversion mechanism, in order to allow them to be recognised as Tier 2 capital for the purposes of the Reserve Bank of New Zealand framework relating to the capital adequacy of banks.2015 REVIEW OF THE COMMISSIONER'S MILEAGE RATE FOR EXPENDITURE INCURRED FOR THE BUSINESS USE OF A MOTOR VEHICLE
Operational Statement 09/01 published in the Tax Information Bulletin Vol 21, No 3 (May 2009) provides the Commissioner's statement of a mileage rate for expenditure incurred for the business use of a motor vehicleINCOME TAX (FRINGE BENEFIT TAX, INTEREST ON LOANS) AMENDMENT REGULATIONS 2015
The prescribed rate of interest used to calculate fringe benefit tax on low-interest, employment-related loans is 6.22%, down from the previous rate of 6.70% which applied from the quarter beginning 1 October 2014QB 15/07: TAX ADMINISTRATION ACT 1994 - MEANING OF 'DUE AND PAYABLE' UNDER SECTION 91E(4)(d)(i)
We have been asked when a tax, duty or levy will be considered to be 'due and payable' under s 91E(4)(d)(i).COSTS ON A JOINT AND SEVERABLE BASIS
The High Court declined the respondents’ application to depart from r 14.14 of the High Court Rules ('HCR') and to apportion costs severally between each respondent. The High Court held that given the background to the application, and the unified opposition efficiently presented by all the respondents, there is no arguable basis for departing from the default principle under the rule.STARTING PRINCIPLE OPEN JUSTICE
The High Court dismissed Mr Musuku's application for an order that a judgment (where he was the applicant) not be published, or that his name, other identifying information and sensitive information in the judgment not be published. Woodhouse J held that the starting point is open justice and that more is required than to point to adverse consequences of publicity.HIGH COURT UPHOLDS DETERMINATIONS OF TAXATION REVIEW AUTHORITY IN APPEAL BY WAY OF CASE STATED
The High Court granted the appellant's interlocutory application but went on to find for the Commissioner of Inland Revenue ('the Commissioner') on the 13 questions included in the appeal by way of case stated.HIGH COURT GRANTS COMMISSIONER'S APPLICATION FOR TRANSFER
The High Court granted the Commissioner of Inland Revenue's ('the Commissioner') application, made pursuant to s 138N of the Tax Administration Act 1994 ('TAA'), to transfer the challenge proceeding filed by Great North Motor Company Limited (In rec) ('Great North') in the Taxation Review Authority ('TRA') to the High Court.STRIKE-OUT
The Commissioner of Inland Revenue ('the Commissioner') applied to strike out the disputants' challenge as being solely for the purposes of delay and as frivolous and vexatious. The Taxation Review Authority ('TRA') found for the Commissioner, but gave the disputant one 'lastchance' to retain counsel, and file briefs of evidence and submissions within one month of the date of judgment. Failing this, the challenge will be struck out.COST OF OBTAINING RESOURCE CONSENTS HELD TO BE CAPITAL
The Court of Appeal held that expenditure incurred in obtaining resource consents was capital expenditure and was, therefore, not deductible under s DA 1 of the Income Tax Act 2004 ('ITA'). As a result, s EE 7(j) of the ITA did not prevent the resource consents of fixed duration from being 'depreciable property' under s EE 6 of the ITA.