TIB - October 2019

New legislation

Taxation (Research and Development Tax Credits) Act 2019

Binding rulings

BR Pub 19/04: Income tax – application of the employee share scheme rules to employer issued crypto-assets provided to an employee

Questions we’ve been asked

• QB 19/12: What is the fringe benefit tax, GST and income tax treatment of an employee contribution to a fringe benefit?
• QB 19/13: Income tax – when does the business premises exclusion to the bright-line test apply?
• QB 19/14: Income tax – when does the business premises exclusion in s CB 19 apply to preclude land sales from being taxed under ss CB 6 to CB 11?

Operational statements

• OS 19/04a: Commissioner’s statement on using a kilometre rate for business running of a motor vehicle – deductions
• OS 19/04b: Commissioner’s statement on using a kilometre rate for employee reimbursement of a motor vehicle

Legislation and determinations

General Determination DEP104: Tax Depreciation Rate for lay-flat hoses

Legal decisions – case notes

• Taxation Review Authority considers whether the repayment of a loan can generate an input tax deduction
• Court of Appeal confirms deductions for bad debts not available as operating a “Benevolence on the Conscience Loan Fund” not a money lending business
• Unsuccessful strike-out application to Commissioner of Inland Revenue’s Property Law Act 2007 claim
• Taxation Review Authority considers ‘taxable activity’ and entitlement to input tax deductions