TIB - December 1994

Policy statements

• Certifying NZ taxpayer as a taxable person in order to recover VAT refund from Economic Community
• Details to be supplied to Inland Revenue when seeking a deduction for payments to spouse
• GST and debt collection services
• Assessability of lump sum and pension payments made to employees and past employees
• Revocation of qualifying company election - payment of qualifying company election tax
• GST general time of supply rules - receipt of deposits
• Gift duty - exemption for maintenance or education of relatives
• GST - zero-rating of goods sold to persons departing NZ
• Specified superannuation contribution withholding tax (SSCWT) - correction
• Fidelity fund levies - GST implications clarified

Legislation and determinations

• Depreciation rates - dispenser fittings
• Depreciation - new asset classes and rates for medical equipment, medical laboratory equipment and scientific and general laboratory equipment

Questions we've been asked

• Income Tax Act 1976 
• Goods and Services Tax Act 1985 
• Stamp and Cheque Duties Act 1971 

Legal decisions - case notes

• I.C. Baillie v CIR: Whether purchase of land for subdivision qualifies for conveyance duty exemption
• TRA 91/69: Whether transfer of land was part of a taxable activity
• TRA 92/16: Alienation of income from law partnership
• AA Finance v CIR: Whether sale of Government stock by a finance company is assessable income
• Norfolk Apartments v CIR:  Whether GST input credits claimable on development of a retirement village