TDS 24/09 Transfer of property and whether income arises
Vol 36 No 4 TIB - May 2024
New legislation
- Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024
Determinations
- DET 24/01: Amortisation rates for listed horticultural plants
- FDR 2024/01: A type of attributing interest in a foreign investment fund for which a person may not use the fair dividend rate method (Wellington Management Funds (Ireland) PLC - Wellington Global Impact Bond Fund NZD Class)
- DEP111: Tax Depreciation Rate for horticulture LED grow light systems
- CFC 2024/01: Non-attributing active insurance CFC status Tower Limited
- CFC 2024/02: Non-attributing active insurance CFC status Tower Limited
- CFC 2024/03: Non-attributing active insurance CFC status Tower Limited
- CFC 2024/04: Non-attributing active insurance CFC status Tower Limited
- CFC 2024/05: Non-attributing active insurance CFC status Tower Limited
- CFC 2024/06: Non-attributing active insurance CFC status Tower Limited
Interpretation statements
- IS 24/02: GST – Grouping for companies
- IS 24/03: GST – Who can group register?
Case summary
- CSUM 24/02: Taxpayer challenge to timeliness of Commissioner’s Statement of Position (CSOP) dismissed by TRA
Technical decision summary
- TDS 24/04: Receipt of a one-off payment
- TDS 24/05: Sale of bare land when intended for a subdivision
TDS 24/08 Employee Share Scheme – right to receive shares
TDS 24/07 Suppressed cash sales, GST and evasion shortfall penalties
An employer who provides a fringe benefit to an employee (or a shareholder-employee) may have to pay fringe benefit tax (FBT). The Commissioner has published several items on FBT. This overview sets out these items, organised by subject.
TDS 24/06 Sale of property and the bright-line test
DEP 111 Horticulture LED grow light systems
This determination sets a depreciation rate for horticulture LED grow light systems used for indoor farming operations.
DET 24/01 Amortisation Rates for Listed Horticultural Plants
This Determination sets out the amortisation rates (based on diminishing values) for listed horticultural plants as determined by the Commissioner of Inland Revenue and listed in the schedule to this Determination. The Determination is made under section 91AAB of the Tax Administration Act 1994.
The Determination applies from the 1 April 2023 and subsequent income years. Its application may be supplemented or changed by supplementary Determinations pursuant to subsection 91AAB(4) of the Tax Administration Act 1994.
Tax Information Bulletin - Vol 36 No 4, May 2024
Vol 36 No 3 TIB - April 2024
New legislation
- SL 2024/17 – Tax Administration (Reportable Jurisdictions for the Application of CRS Standard) Amendment Regulations 2024
Determinations
- NSC 2024: National standard costs for specified livestock determination 2024
- ITR35: 2024 International tax disclosure exemption
Technical decision summary
- TDS 24/03: Fringe Benefit Tax: discounted goods provided by third party
Reference | Title | Closes |
---|---|---|
ED0255 | Exemption from electronic filing | 28 May 2024 |
2024 25 work programme | Public advice and guidance work programme 2024-25 | 07 June 2024 |
Public advice and guidance work programme 2024-25
Each year the Tax Counsel Office prepares a programme of public guidance work for the following year.
If you are aware of any tax technical or interpretative issues you think we should publish guidance on, please let us know by 7 June 2024.
Before adding a suggestion to the work programme, we consider the importance of the issues involved, the level of uncertainty/ambiguity, the number of customers potentially affected, and the potential revenue implications. Any relevant information you can provide about these factors is appreciated.
Find out more about how to make a suggestion.
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