TIB - July 2020

Legislation and determinations

• COV 20/01: Variation to section HB 13(3)(b) of the Income Tax Act 2007
• COV 20/02: Variation to section EI 1 of the Income Tax Act 2007 an application to change GST taxable period
• COV 20/03: Variation of the application of s 15D(2) Goods and Services Tax Act 1985 to extend time to make an application to change GST taxable period
• COV 20/04: Variation in relation to s DB 31 Income Tax Act 2007 to extend time for writing off bad debts
• COV 20/05: Variation in relation to s RP 17B(4) of the Income Tax Act 2007 to extend time for tax pooling transfers
• NAMV 2020: National Average Market Values of Specified Livestock Determination 2020

Standard practice statement

• SPS 20/03: Requests to amend assessments

Interpretation statements

• IS 20/02: GST - supplies by New Zealand hunting outfitters and taxidermists to overseas hunters
• IS 20/03: Income tax – sections GB 3B and GB 4 of the Income Tax Act 2007 – temporary loss carry-back regime
• IS 20/04: GST treatment of short-stay accommodation

Commissioner's statement

• CS 20/02: Trophy hunting and the GST treatment of the “trophy fee”

Legal decisions – case summaries

• Court of Appeal decides that payments made in support of overseas mission services qualify for tax credits
• Taxpayer ordered by Court of Appeal to pay increased security for costs