TIB index based from the NZ Tax Information Bulletin - kwister.net
Current Time (NZ)
03:19:37
29 Dec 2024
03:19:37
29 Dec 2024
TIB index based from the NZ Tax Information Bulletin - kwister.net
Order in Council - FIF deemed rate of return set for 2015-16
The deemed rate of return for taxing foreign investment fund (FIF) interests is 6.77% for the 2015-16 income year, down from 7.71% for the previous income year.QB 16/07: Income tax - land sale rules - main home and residential exclusions - regular pattern of acquiring and disposing, or building and disposing
This Question We've Been Asked (QWBA) provides guidance about when someone selling land will have a 'regular pattern' of transactions that means they cannot use the residential exclusion from ss CB 6 to CB 11, and when someone selling land will have a 'regular pattern' of transactions that means they cannot use the main home exclusion from the 2-year bright-line test.Section CB 6 - date of acquisition of land and intention
This is a decision of the Taxation Review Authority ('TRA') finding that, for the purposes of s CB 6 of the Income Tax 2007 ('Act'), a land is acquired earlier than the date of registration. In this case the TRA found that the land at issue was acquired on the date of settlement and the disputant did not have an intention to dispose of the land on that date.Taxation Review Authority finds no taxable activity and upholds the Commissioner's GST reassessments and deregistration
This is a decision of the Taxation Review Authority ('TRA') upholding the Commissioner of Inland Revenue's ('the Commissioner') reassessments of the disputants' Goods and Services Tax ('GST') returns. The input tax credit claimed by the disputants was disallowed and the disputants' GST registration was cancelled from the dates that the disputants originally registered on the basis that the disputants did not have a taxable activity.Application of time bar provisions - s 108 and 108B of the Tax Administration Act 1994
This is a decision of the Taxation Review Authority on a preliminary time bar issue dismissing the disputant's claim in relation to the application of time bar provisions to the assessments in respect of the disputant's 2001-2005 tax years.High Court held that the Commissioner's opinion in section 108(2) of the Tax Administration Act 1994 must be determined by the hearing Authority on a de novo basis
This is an appeal to the High Court against the Taxation Review Authority's ('TRA') finding that the Commissioner of Inland Revenue ('the Commissioner') was correct to hold the opinion that the appellants' tax returns were fraudulent or wilfully misleading pursuant to s 108(2) of the Tax Administration Act 1994 ('TAA'). The Commissioner cross-appealed the TRA's finding that the appellants had not committed evasionStatutory Interpretation: section CC 1 of the Income Tax Act 2007
The Court of Appeal has found that the words 'other revenues' in s CC 1(2) of the Income Tax Act 2007 ('the Act') do not capture amounts that are capital in nature.Impact of bankruptcy on ability to bring challenge proceedings
The High Court dismissed an appeal from a Taxation Review Authority ('TRA') decision, upholding the TRA's decision to dismiss a challenge proceedingCrediting may not constitute payment
The High Court 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 payment. Because there was no final payment under the financial arrangement in this case, a base price adjustment ('BPA') was not required.