TIB - April 1998

New legislation

• Taxation (Remedial Provisions) No.2 Bill

Legislation and determinations 

• Foreign currency amounts – conversion to NZ currency 
• Computer Numerically Controlled (CNC) Drilling & Routing Machines: Depreciation Determination DEP33
• Hydrogen Manufacturing Unit and Hydrocracker Catalysts: Draft general depreciation determination
• Woven reflective mulch: Draft general depreciation determination

Interpretation statements 

• “Forestry”: whether or not it is included in the section CD 1(7) definition of “farming or agricultural business”

Standard practice statements 

• Tax payments – when received in time: Standard Practice Statement PRC-100
• Applications to keep records in Maori: Standard Practice Statement INV-470

Questions we’ve been asked 

• Income Tax Act 1994 
• Stamp and Cheque Duties Act 1971 

Legal decisions - case notes 

• Joint bank accounts – whether Commissioner can attach under section 157: ANZ Banking Group v CIR