TIB index based from the NZ Tax Information Bulletin - kwister.net
Current Time (NZ)
03:41:02
29 Dec 2024
03:41:02
29 Dec 2024
TIB index based from the NZ Tax Information Bulletin - kwister.net
New Zealands ratification of the OECDs Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting
New Zealand signed the MLI on 7 June 2017, and deposited its instrument of ratification with the MLI Depositary on 27 June 2018.IS 18/04: Goods and services tax - single supply or multiple supplies
During Public Consultation on QB 18/14: GST treatment of fees that suppliers charge customers for using a credit or debit card the Commissioner signalled that she would be re-issuing IS 17/03: Single supply or multiple supplies. The Commissioner was aware that some taxpayers had read example 4 of IS 17/03 as suggesting that a credit card surcharge would always be a separate exempt supply of financial services. This is not the Commissioner's position. IS 17/03 has therefore been re-issued as IS 18/04 to clarify that the provision of a payment facility will not always be an exempt supply of a financial service.IS 18/05: Income tax - donee organisations - meaning of wholly or mainly applying funds to specified purposes in New Zealand
This interpretation statement concerns donee organisations under s LD 3(2)(a) of the Income Tax Act 2007. It is relevant to organisations applying funds to purposes within New Zealand and to purposes overseas. It is not relevant to organisations listed in schedule 32 of the Act. TApplication for restoration to the Register of Companies
The applicants sought orders to restore five companies to Register of Companies (the Register). The Court considered that on balance, the private and public interests favoured restoration of the relevant companies to the Register.Application to extend time for SOP dismissed
Two companies were in dispute with the Commissioner of Inland Revenue (the Commissioner) concerning GST input credits and had two months to issue Statements of Position (SOPs) in response to the Commissioners SOPs.An application for orders appointing a replacement liquidator
The Commissioner of Inland Revenue (the Commissioner) applied for orders appointing a replacement liquidator for Mercantile Developments Limited by way of originating application without notice. Application to extend time for SOP dismissedHigh Court confirms deductions for bad debts not available as operating a 'Benevolence on the Conscience Loan Fund' not a money lending business
Unsuccessful taxpayer appeal of a decision in the Taxation Review Authority. The High Court confirmed the Commissioner of Inland Revenues assessments disallowing two deductions for bad debts under s DB 31 of the Income Tax Act 2007 and imposing shortfall penalties under s 141A for not taking reasonable care.