TIB - October 2000
Binding rulings
- “Cost price of the motor vehicle” – meaning of the term for fringe benefit tax (FBT) purposes: Public Ruling – BR Pub 00/10
- Product Ruling – BR Prd 00/08
New legislation
- Student Loan Scheme Amendment Act 2000
- Industry New Zealand Act 2000
- Use-of-Money interest rates
General interest items
- Transfer pricing guidelines (see Appendix for actual guidelines)
Legislation and determinations
- Foreign currency amounts – conversion to New Zealand currency
Legal decisions – case notes
- Commissioner’s application to strike out judicial review proceedings successful: CIR v Ti Toki Cabarets (1989) Ltd and Others
- Unsuccessful interlocutory application by Commissioner to provide documents to Plaintiff or determine separate question before trial: Tagasoft v CIR
- Application for judicial review – assessments of income tax by Commissioner barred by section 25 of the Income Tax Act 1976: Vela Fishing Limited v Commissioner of Inland Revenue
- “Fees” paid by taxpayer to subsidiary were capital in nature and non-deductible: Mainzeal Holdings Limited v Commissioner of Inland Revenue
- Shortfall penalty successfully imposed for unacceptable interpretation pursuant to section 141B of the Tax Administration Act 1994: TRA Number 046/99. Decision Number 19/200
- Application for judicial review seeking to strike out TRA decisions and seeking discovery orders against Commissioner: J G Russell & Ors v Taxation Review Authority and Commissioner of Inland Revenue
Appendix: TIB Vol 12 No 10A