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Vol 34 No 1
Issued
03 Feb 2022

TIB - February 2022

New legislation

  • The COVID-19 Resurgence Support Payments Scheme (August 2021) Order (No 6) 2021
  • The COVID-19 Resurgence Support Payments Scheme (August 2021) Order (No 7) 2021

Determinations

  • FDR 2021/04: A type of attributing interest in a foreign investment fund for which a person may not use the fair dividend rate method
  • COV 21/06: Variation in relation to the definition of “finance lease” in s YA 1 of the Income Tax Act 2007
  • FX 21/01: Foreign exchange rates
  • CFC 2021/01: Non-attributing active insurance CFC status (Tower Limited) - Cook Islands
  • CFC 2021/02: Non-attributing active insurance CFC status (Tower Limited) - Papua New Guinea
  • CFC 2021/03: Non-attributing active insurance CFC status (Tower Limited) - Fiji
  • CFC 2021/04: Non-attributing active insurance CFC status (Tower Limited) - Tonga
  • CFC 2021/05: Non-attributing active insurance CFC status (Tower Limited) - Vanuatu

Operational statement

OS 21/04: Non-resident employers’ obligations to deduct PAYE, FBT and ESCT in cross-border employment situations

Interpretation statement

IS 21/09: Income tax - foreign tax credits - how to calculate a foreign tax credit

Question we’ve been asked

QB 21/11: Elections not to depreciate commercial buildings

Technical decision summaries

  • TDS 21/05: GST - Input tax deductions, penalties
  • TDS 21/06: Exempt income and R&D credits