TIB - Volume 13 - January 2001 to December 2001

Vol 13 No 5 - May 2001

Rent deemed to be payable - deductibility. Public Ruling - BR Pub 01/03
Assessability of Payments under the Employment Relations Act for Humiliation, Loss of Dignity, and Injury to Feelings. Public Ruling - BR Pub 01/04

Tax implications of the Property (Relationships) Amendment Act 2001
No tax on ex gratia payments to Japanese ex-prisoners of war and civilian internees
Taxation (Beneficiary Income of Minors, Services-related Payments and Remedial Matters) Act 2001 01/04
- Introduction
- Changes to Income Tax Act 1994
  - Stake money won on overseas races
  - Services-related payments: restrictive covenants and exit inducements
  - Amendments to the fringe benefit tax multi-rate rules
  - Taxing beneficiary income of minors at 33% - the "minor beneficiary rule"
  - Distributions made by the Treaty of Waitangi Fisheries Commission - section 19
  - Definition of "qualifying person" for family assistance
  - International tax - remedial amendments
  - Requirement on companies to adopt minimum 33% withholding tax rate
  - Earnings related compensation and definitions of employee, employer and employment
  - Minor remedial amendments
- Changes to Tax Administration Act 1994
  - Offsetting use of money interest against unpaid tax
  - Tax simplification for business
  - Shortfall penalties on refunds
  - Cancellation of interest
- Changes to Goods and Services Tax Act 1985
  - Tokens, stamps and vouchers
  - Other remedial changes
- Changes to the Stamp and Cheque Duties Act 1971
  - Approved issuer levy
Order in Council - The Goods and Services Tax (Local Authorities Accounting on Payments Basis) Order 2001 (SR 2001/85)

Cash prizes in sporting competitions - GST implications for organising club - Sections 5(10) and 10(14), Goods and Services Tax Act 1985 - supply where game of chance etc

Whether sale of vessel attracted GST - judicial review - Simunovich Fisheries Ltd v CIR and Owen Joseph Knock
Whether award for loss of wages and benefits was assessable, whether legal expenses deductible - Derek Earl Cleland v CIR
Whether supply of repair services under warranty agreement zero-rated for GST - Suzuki New Zealand Ltd v CIR
Whether legal fees in respect of personal grievance actions were deductible - TRA Number 00/026. Decision Number 4/2001
Whether incentive payment is emolument of service and assessable - CIR v Darryl Kerslake
Whether loss incurred on the sale of shares was deductible -TRA Number 001/00. Decision Number 3/2001
Properties applied for non-taxable purpose - CIR v Carswell Investments Co Ltd