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IS 18/02: Goods and services tax - GST treatment of distributions made by a trading trust to a beneficiary

This Interpretation Statement considers the GST treatment of a distribution made by a GST-registered trading trust to a beneficiary, where that distribution consists of goods forming part of the trusts taxable activity. It notes that the supply will be an associated supply, and the different timing and value of supply rules that apply to associated supplies. It also considers situations where supplies may trigger obligations on the trading trust to register for or deregister from GST.

Categories:  associated-person,   beneficiary,   distribution,   exempt-supply,   goods-and-services-tax,   interpretation-statement,   taxable-activity,   taxable-supply,   trust-trading  

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SPS 18/03: Effective date of GST registrations

The statement sets out the effective date from which the Commissioner will register a person for GST. It covers the general rules under the legislation and also explains how the Commissioner will apply discretion where the legislation provides for an alternative date to be used.

Categories:  goods-and-services-tax,   registration,   standard-practice-statement  

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Review of SPS 08/03: Withdrawn Standard Practice Statement

This item has been withdrawn.

Categories:  standard-practice-statement  

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Determination CRS 2018/007 - CRS applied standard - Non-Reporting Financial Institution determination - Foundation North

Foundation North is a non-reporting financial institution for the purposes of the CRS applied standard and requirements under Part 11B of the Tax Administration Act 1994

Categories:  crs-applied-standard,   financial-institution,   reporting,   shares-government-owned  

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Enforcement Proceedings, Judicial Review and Interim Relief

Shane Warner Builders Ltd (the applicant), by its sole director and shareholder, Shane Warner sought interim relief in the form of a stay of the liquidation proceedings filed by the Commissioner of Inland Revenue (the Commissioner) to recover unpaid PAYE and Goods and Services Tax (GST) in order to allow its judicial review proceedings to be heard. The applicant sought declarations in the judicial review proceedings that the Commissioner has erred in law and acted unreasonably in failing to accept its proposal to pay outstanding tax over time. The Court declined to grant interim relief to the applicant as it was not satisfied that an interim order was reasonably necessary to preserve the applicants position.

Categories:  company-shane-warner-builders-limited,   goods-and-services-tax,   liquidation,   pay-as-you-earn-(paye)  

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Appeal not setting aside bankruptcy notice is direct to the Court of Appeal

In a decision on 15 June 2018, Dr Muirs application to set aside a bankruptcy notice issued against him by the Commissioner was dismissed by the High Court. Dr Muir sought leave from the High Court to appeal to the Court of Appeal. The High Court agreed with the Commissioner and held that an application to set aside a bankruptcy notice is not an interlocutory application; rather a stand-alone proceeding. As such, the High Court had no jurisdiction to grant the application for leave and Dr Muir needs to appeal directly to the Court of Appeal.

Categories:  bankruptcy,   interlucutory-application,   jurisdiction