TIB index based from the NZ Tax Information Bulletin - kwister.net
Current Time (NZ)
03:13:59
29 Dec 2024
03:13:59
29 Dec 2024
TIB index based from the NZ Tax Information Bulletin - kwister.net
Order in Council – Income Tax (Tax Credit) Order 2022
The Income Tax (Tax Credit) Order 2022, made on 14 November 2022, increases three Working for Families tax credits, to take effect from 1 April 2023.COV 22/20: Variation to section 68CB(2) of the Tax Administration Act 1994
The Commissioner of Inland Revenue has, under the discretion provided under section 6I of the Tax Administration Act 1994, made the following statutory variation: For a general approval application in relation to the R&D tax credit for the 2021-2022 income tax year under section 68CB(2) of the Tax Administration Act 1994, for applicants whose 2021-2022 income year ends on 30 September 2022DEP109: Tax Depreciation Rates for automated ship mooring systems
The Commissioner has been asked to consider what depreciation rate should apply for automated ship mooring systems which are used for mooring ships at wharves and port facilities.FDR 2022/02: A type of attributing interest in a foreign investment fund for which a person may not use the fair dividend rate method (iShares Green Bond Index Fund – NZD Share Class)
Any investment by a New Zealand resident investor in shares in the iShares Green Bond Index Fund – NZD Share Class to which none of the exemptions in sections EX 29 to 43 of the Income Tax Act 2007 apply, is a type of attributing interest for which the investor may not use the fair dividend rate (“FDR”) method to calculate foreign investment fund income for the interestBR Prd 22/11: Australia and New Zealand Banking Group Limited (ANZBGL)
This Ruling has been applied for by Australia and New Zealand Banking Group Limited (ANZBGL).BR Prd 22/12: ANZ Bank New Zealand Limited (ANZ)
The Arrangement is that Australia and New Zealand Banking Group Limited (ANZBGL) shareholders will exchange their ANZBGL ordinary shares for shares in a non-operating holding company (NewANZ), as part of a reorganization of ANZBGL and its subsidiaries (NOHC Reorganisation), and the related amendments to the ANZBGL employee share schemes.IS 22/06: Loss carry-forward – continuity of business activities
This interpretation statement provides guidance on how the main aspects of the business continuity test in s IB 3 of the Income Tax Act 2007 apply. The business continuity test may enable a company to carry forward tax losses despite a breach in ownership continuity if certain requirements are satisfied.IS 22/07: Company losses – ownership continuity, sharing and measurement
This Interpretation Statement considers the rules applying to company losses, including carrying forward losses, sharing losses, and the measurement of ownership interests.QB 22/08: Goods and Services Tax – Payments made by parents to private schools
The Commissioner has been asked to clarify the GST treatment of payments parents make to private schools. (QB 22/09: Income Tax – Payments made by parents to private schools and donation tax credits 1 clarifies when payments parents make to private schools will be gifts for donation tax credit purposes.)QB 22/09: Income Tax – Payments made by parents to private schools and donation tax credits
When will a parent’s payment to their child’s private school qualify for a donation tax credit?TDS 22/18: Income tax: timing of deduction; deduction for schedular income expenses
The Taxpayer is an individual. The Taxpayer operates a farm on their property. 2. The Taxpayer claimed self-employment losses from farming in their 2020 income tax return. During the course of this dispute, the parties agreed the income from farming should be returned in the 2021 tax year. The Taxpayer considered this meant their expenses and depreciation loss from farming should also be re-returned in the 2021 tax year. However, Customer & Compliance Services, Inland Revenue (CCS) argued that these should remain returned in the 2020 tax yearTDS 22/19: Whether weathertightness payments by the Crown are subject to GST
The Taxpayer is a GST registered body corporate providing services to the unit owners in an apartment complex. These services include repairing and maintaining the complex. The complex suffered weathertightness issues that required extensive remedial work. 2. The Taxpayer and unit owners lodged a claim under the Weathertight Homes Resolution Services Act 2006 (WHRS Act) and also commenced High Court proceedings against the local council (Council) and others they considered responsible for the defects. The Crown was not a party to the proceedings. In 2015 the parties to the proceedings entered a settlement agreement under which the Taxpayer and unit owners agreed to proceed with obtaining Government Financial Assistance Package (FAP) scheme under the WHRS Act.