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- Draft items
Inland Revenue produces a number of statements and rulings to explain to taxpayers and their agents how taxation laws affect them. These are produced by the Office of the Chief Tax Counsel (OCTC) and Legal and Technical Services business groups of Inland Revenue. We are keen to produce items that accurately and fairly reflect taxation legislation and are useful to taxpayers and their advisors. Your feedback, as a user of that legislation, is highly valued.
You can have your say by providing us with comment on the technical and/or commercial aspects of the drafts. We will acknowledge receipt of your comments immediately, and reply in more detail to you before the item is finalised.
Drafts currently available for consultation are listed below and can be downloaded until the comment deadline. New drafts will be added as they become available.
Subscribe to receive a fortnightly email updating you on finalised public items and draft public items that have been released for external consultation.
You can receive email notifications when draft public items are available for comment. Contact Public Consultation to be placed on a distribution list.
For information about proposed changes to tax law visit the Policy Advice Division website.
Final items can be found in our technical tax area, and using the links below:
- Interpretation guidelines and interpretation statements
- Public rulings
- Standard practice statements
- Product rulings
- Questions we've been asked
Let us know what you think about our drafts. Are they technically accurate? Do they fairly reflect taxation legislation? Are they in line with commercial reality and useful in practical situations?
ED0186: Payment of Shortfall Penalty Using Losses, draft Standard Practice Statement
Section IW 1 of the Income Tax Act 2007 allows a taxpayer to use tax losses in payment of a shortfall penalty imposed on an income tax liability This draft Standard Practice Statement sets out the Commissioner’s application of section IW 1.
Comment deadline: 15 July 2016
ED0186 - PDF format (67kb | 4 pages)
IRRUIP9: Donee organisations – clarifying when funds are applied wholly or mainly to specified purposes within New Zealand
This issues paper foreshadows a possible change in Inland Revenue’s current practice for donee organisations. While presenting Inland Revenue’s preliminary but considered views, it does not present any fixed or final views.
The issues paper examines the “donee organisation” requirements of the Income Tax Act 2007, and is particularly relevant to organisations that apply some of their funds to purposes outside of New Zealand. This is because donee organisations must “wholly or mainly” apply funds to certain specified purposes within New Zealand. Inland Revenue currently accepts that this requirement is met where 51% or more of the funds are applied within New Zealand. The issues paper suggests a higher threshold should apply which, although no exact figure has been set, could be as much as 90% or more.
If the current practice was to change it would apply prospectively. Organisations unable to satisfy the “wholly or mainly” requirement under any new higher threshold may have alternatives (discussed in the issues paper) if they wish donors to continue to be eligible for tax benefits.
The issues paper also considers how the extent to which an organisation has applied funds to specified purposes is calculated and confirms that applying funds to specified purposes within New Zealand does not limit an organisation to spending funds within New Zealand.
Comment deadline: 24 June 2016
IRRUIP9 - PDF format (464kb | 30 pages)
PUB00259: Income tax - land sale rules - main home and residential exclusions - regular pattern of acquiring and disposing, or building and disposing
This item is about habitual land sellers / renovators. It considers when there will be a "regular pattern" of acquiring and disposing or erecting and disposing, which will mean that the residential exclusion from most of the land sale rules (s CB 16) cannot be used. This is also relevant to the main home exclusion from the 2-year "bright-line" (s CB 16A), which has a "regular pattern" carve-out (in addition to the cap on how frequently the exclusion can be used).
Comment deadline: 30 May 2016
PUB00259 - PDF format (205kb | 13 pages)
You can email your comments to us at firstname.lastname@example.org This email address is only for providing feedback on public drafts.
For all other feedback, please use our Comments and feedback form
If you wish to post us your comments, send them to:
Team Manager, Technical Services
Office of the Chief Tax Counsel
Inland Revenue Department
PO Box 2198
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