TIB - December 2012

Binding rulings

• Product ruling BR Prd 12/05: ProCare Health Limited
• Product ruling BR Prd 12/08: Fonterra Shareholders’ Fund

Legislation and determinations

• Determination DEP82: General depreciation rate for meal feeder – automated
• Special Determination S23: Transfer of acquired bad debts by a certain New Zealand company to another New Zealand company in the same consolidated group and the utilisation of a profit emerging basis by the transferee company

New legislation

• Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012
• Order in Council: Income Tax (Minimum Family Tax Credit) Order 2012
• Other notices

Questions we’ve been asked

• QB 12/13: Income tax – is a tax credit allowed for state income tax paid in the United States of America?

Items of interest

• Status of the Commissioner’s advice

Legal decisions – case notes

• No merit in “slip rule” appeal