TIB - August 2014
Interpretation statements: IS 14/04: Income tax – deductibility of company administration costs
Legislation and determinations
- Determination CFC 2014/03: Non-attributing active insurance CFC status (TOWER Insurance Limited)
- Determination CFC 2014/04: Non-attributing active insurance CFC status (TOWER Insurance Limited)
- Determination CFC 2014/05: Non-attributing active insurance CFC status (TOWER Insurance Limited)
- Determination CFC 2014/06: Non-attributing active insurance CFC status (TOWER Insurance Limited)
New legislation
- Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014
- Orders in Council
- Forests (Payment of Money) Order 2014
- FIF deemed rate of return set for 2013–14 income year
Questions we’ve been asked: QB 14/06: GST – Hire firm security bonds
Binding rulings: Product Ruling BR Prd 14/05: ProCare Health Limited
Legal decisions – case notes
- Commissioner awarded discovery orders
- Employee entitlement fund and tax avoidance
- Statement of position declared invalid
- Leave to continue challenge
- Sovereign Assurance refused leave to appeal to the Supreme Court
- Summary judgment for $367 million
- Registration appeal and tax challenge proceedings consolidated
- Application for leave to appeal decision to the Supreme Court dismissed
- GST implications on the supply of equipment
- The Crown’s legal professional privilege