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IS 23/08: Goods and Services Tax – Unit title bodies corporate

This interpretation statement explains how GST applies to transactions between a unit title body corporate, its members and third-party suppliers.

Categories:  body-corporate,   goods-and-services-tax,   goods-and-services-tax-input-tax-deductions  

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IS 23/09: Research and development loss tax credits

This interpretation statement provides guidance on who is eligible for research and development (R&D) loss tax credits.

Categories:  research-and-development  

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IS 23/10: Deductibility of holding costs for land

This interpretation statement considers the deductibility of holding costs for land and whether the land being taxed on sale is relevant to deductibility. Holding costs are expenses incurred in relation to the ownership of land, such as interest, rates, property insurance, and repairs and maintenance and body corporate levies (provided they are revenue expenses). Holding costs do not include capital improvement costs or expenses that relate only to the use of land.

Categories:  deductibility,   land-purchase  

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TDS 23/13: Changing FIF calculation methods

The Arrangement involves a Trust and a Company (the Applicants) seeking to change their foreign investment fund (FIF) calculation methods. The Applicants have an interest in a number of foreign unit trusts and companies (the relevant FIFs). The relevant FIFs are not tax residents for New Zealand tax purposes under subpart YD and are not treated as being tax residents of New Zealand under any double tax agreement.

Categories:  double-taxation-agreement,   foreign-investment-fund-(fif)-calculation-method  

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CSUM 23/04: TRA finds disputant to be in a de facto relationship and upholds Commissioner's WfFTC assessments

The Taxation Review Authority (the TRA) upheld the Commissioner's assessments of the disputant's entitlement to Working for Families Tax Credits (WfFTC) at nil for each of the income years in dispute. The disputant claimed WfFTC for the 2015 to 2018 income years on the basis she was a single parent. However, the Commissioner considered that the disputant was in a de facto relationship during the income years in dispute and so her partner's income should have been included as part of her family scheme income for WfFTC purposes. The effect of including the partner's income was that the disputant's entitlement to WfFTC was nil.

Categories:  partner,   taxation-review-authority,   working-for-families-tax-credits