TIB - April 2004

Binding rulings

• Licensed premises' operators - deductibility of entertainment expenditure: Public ruling - BR PUB 04/02
• Fringe benefit tax and motor vehicle multi-leases: Public ruling - BR PUB 04/03
• Product ruling - BR PRD 04/02
• Product ruling - BR PRD 04/03

New legislation

• Determination E11: Persons not required to comply with section EF 1 of the Income Tax Act 1994

Legislation and determinations

• Digital photographic minilabs: Draft general depreciation determination
• 2004 international tax disclosure exemption ITR15
• Foreign currency amounts - conversion to New Zealand currency

Standard practice statements

• Reduction of shortfall penalties for previous behaviour: IR SPS INV 295

Operational statements

• GST and the costs of sale associated with mortgagee sales

Legal decisions - case notes

• Deductibility of legal expenses: TRA decision 009/2004
• Matters raised in statement of position: not excluded: CIR v Delphi Fishing Company Limited
• GST consequences of sale and purchase of property: CIR v Campbell Investments and the trustees in the JC Montgomery family trust CIV 2003 485916
• Evidence on recall of judgment fails to assist taxpayers: TRA decision 012/2004 and 013/2004
• Application to recall or alter rulings refused: TRA decision 01/2004
• No person exempt from taxation: Phillip William Rupe v CIR