TIB - November 2004

Binding rulings

• Product ruling – BR PRD 04/13

Interpretation statements

• Income tax treatment of Treaty of Waitangi settlements
• Travel by motor vehicle between home and work – deductibility of expenditure and FBT implications

Legislation and determinations

• General depreciation determination DEP52

New legislation

• GST guidelines for working with the new zero-rating rules for financial services
• GST guidelines for recipients of imported services
• Payments for protecting native forests

Legal decisions – case notes

• Russell loses judicial review of interlocutory decision in summary prosecution: J G Russell v District Court (Manukau) and CIR
• Supply of a going concern: TRA decision 010/03
• Liability of directors for a company’s tax debt: Kim Spencer and Susan Spencer v CIR
• Legal fees not deductible: CIR v Fullers Bay of Islands Limited, CIV2004-404-1731
• Tenancy details omitted – not a going concern: TRA decision 026/2004
• ACC late payment interest not income: Decision no 028/2004 (TRA 092/03)