TIB index based from the NZ Tax Information Bulletin - kwister.net
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03:16:22
29 Dec 2024
03:16:22
29 Dec 2024
TIB index based from the NZ Tax Information Bulletin - kwister.net
BR Pub 18/07: Income tax and goods and services tax - writing off debts as bad
Categories: bad-debt, binding-ruling, debt-bad, goods-and-services-tax, income-tax, write-offNotice of withdrawal of a public ruling - BR Pub 05/01 Bad debts - writing off debts as bad
BR Pub 05/01 Bad debts - writing off debts as bad for GST and income tax purposes has been withdrawn because it has become outdated and does not reflect the increased use by taxpayers of computer-based accounting software. A new replacement public ruling, BR Pub 18/07 Income Tax and Goods and Services Tax - Writing off debts as bad is published with effect from 1 September 2018.IS 18/03: Income tax - attribution rule for income from personal services
This Interpretation Statement provides guidance on when the attribution rule for income from personal services in ss GB 27 to GB 29 will apply. It expands on 'Attribution of Income' Tax Information Bulletin Vol 12, No 12 (December 2000): 49. It does not discuss or explain the calculation rules contained in s GB 29.SPS 18/04: Options for relief from tax debt
Categories: debt, instalment-arrangement, remission, write-offQB 18/14: GST treatment of fees that suppliers charge customers for using a credit or debit card
This item will be of interest to suppliers who charge their customers a fee for using a credit or debit card to pay for goods or services. The GST treatment of credit or debit card fees almost always follows the GST treatment of the underlying goods or servicesSpecial Determination S60: Spreading of income and expenditure under deferred payment arrangement
This determination applies to the applicants in relation to a deferred payment arrangement. Under the arrangement, a company assigned its rights to future cashflows to the applicants, in partial satisfaction of existing debts owed by the company to the applicants.The Authority confirmed the assumption that all matters at issue are to be determined in one trial because that would normally be the most expeditious and efficient manner for dealing with a proceeding
This is an interlocutory application by the disputant for an order to have two questions decided in advance of the substantive trial. The application arises by the disputant challenging the Commissioner of Inland Revenues assessments of income tax and GST on a number of grounds. The Authority held that the disputant did not discharge the burden to show that it is appropriate for either question to be heard in a separate trial.High Court confirms that judicial review is discretionary and it is inappropriate for the Court to exercise its discretion to grant relief where it could serve no purpose or have practical effect
Brian Cyril Rowell (Mr Rowell) judicially reviewed Zohrabs J decision to decline to recuse himself from hearing Mr Rowells criminal charges. The basis for the judicial review was that Zohrab J showed bias in favour of the Prosecutor against Mr Rowell when he 'provided a privately-distributed minute' to the prosecutor to use in New Zealand Law Society complaint proceedings. The Attorney-General opposed the application on the basis that Mr Rowell did not establish actual or apparent bias and that the judicial review was moot. There would be no practical effect of granting relief in this case as the charges against Mr Rowell have been transferred to the Wellington District Court and Zohrab J will not preside over any further proceedings involving Mr Rowell. The Court found for the Attorney-General and the judicial review application was dismissed.Court of Appeal confirms a lease surrender payment is a revenue receipt in the hands of the landlord
In the High Court, Ellis J concluded that the lease surrender payment received by Easy Park Limited (Easy Park) was revenue and not a capital receipt in Easy Parks hands upholding the Commissioner of Inland Revenues (the Commissioner) classification of the lease surrender payment as taxable income. Easy Park appealed to the Court of Appeal. The Court of Appeal agreed with the Commissioner and Ellis J in holding that the lease surrender payment in the hands of Easy Park was revenue and therefore taxable income. The appeal was dismissed.High Court confirms amounts dealt with on property consultants behalf attributable as income
Ethnik Krasniqi (Mr Krasniqi) had not filed any returns for the 2005 to 2011 income years. The Commissioner of Inland Revenue (the Commissioner) conducted an investigation which revealed Mr Krasniqi had undertaken consultancy work in New Zealand during this period. Substantial payments had been made from entities which Mr Krasniqi had worked for to his family members and third parties in Australia, where Mr Krasniqis family was based. Mr Krasniqi also had access to an eftpos card connected to one of these entities and he used that card to cover personal expenses. The investigation also revealed Mr Krasniqi was the primary beneficiary of a family trust. The Commissioner issued default assessments in respect of payments she considered had been received by Mr Krasniqi or paid or dealt with on Mr Krasniqis behalf or in his interest. The Taxation Review Authority upheld the majority of the Commissioners assessments. Mr Krasniqi appealed the High Court and the Commissioner cross-appealed. The matter was heard before Wylie J in the High Court. His Honour dismissed both Mr Krasniqis appeal and the Commissioners crossappeal.Forgiveness of debt held to be a monetary gift
Nancy Lois Roberts (Mrs Roberts) challenged a decision of the Commissioner of Inland Revenue (the Commissioner) disallowing charitable tax credits for gifts she made to the Oasis Charitable Trust (the Trust). At issue was the meaning of 'a monetary gift of $5 or more that is paid' under s LD 3(1)(a) of the Income Tax Act 2007 (the Act) and whether Mrs Roberts forgiveness of debt of the Trust constituted 'a monetary gift'. The Commissioner argued that forgiveness of a debt is not a charitable gift within the meaning of ss LD 1 and LD 3 of the Act, because 'monetary' means the payment must be made in cash form only. The Court found in favour of Mrs Roberts.Application for leave to appeal to the Supreme Court
Garry Albert Muir sought leave from the Supreme Court to appeal a decision a decision of Associate Judge Bell in which he entered summary judgment in favour of the Commissioner of Inland Revenue (the Commissioner) against the applicant for unpaid taxes, interest and penalties for the 1997-2010 tax years. At issue was whether previous leave and revocation decisions of the Court determined the challenges that were then before the Court. The Court found in favour of the Commissioner and did not grant leave.