Technical tax area: General articles

Secondhand goods input tax credits - marine farming licences and leases

Decision not to reissue rulings: BR Pub 03/08 - Marine farming leases and secondhand goods input tax credits; and BR Pub 03/09 - Marine farming licences and secondhand goods input tax credits

The following public rulings applied from 12 November 2003 to 12 November 2006:

• BR Pub 03/07, "Fishing quota and secondhand goods input tax credits";
• BR Pub 03/08, "Marine farming leases and secondhand goods input tax credits";
• BR Pub 03/09, "Marine farming licences and secondhand goods input tax credits";
• BR Pub 03/10, "Coastal permits, certificates of compliance, marine farming permits, and secondhand goods input tax credits".

These four rulings, along with the combined commentary, were published in Tax Information Bulletin Vol 15, No 12 (December 2003).

The issue addressed by BR Pub 03/08 and BR Pub 03/09 was whether GST input tax credits were available to GST-registered persons who acquired marine farming leases or licences from GST-unregistered persons.

Section 10 of the Aquaculture Reform (Repeals and Transitional Provisions) Act 2004 provides that from 1 January 2005 marine farming leases and licences are deemed to be coastal permits granted under the Resource Management Act 1991. This includes marine farming leases and licences in existence before 1 January 2005. Therefore, marine farming leases and licenses are now covered by BR Pub 09/05, "Coastal permits and certificates of compliance - secondhand goods input tax credits". For that reason, the rulings relating to marine farming leases and licences (BR Pub 03/08 and BR Pub 03/09) will not be reissued.

In addition, marine farming permits are no longer required because section 67J of the Fisheries Act 1983 was repealed by section 19 of the Aquaculture Reform (Repeals and Transitional Provisions) Act 2004. As a result, those parts of BR Pub 03/10 relating to marine farming permits do not form part of the reissued ruling - BR Pub 09/05. BR Pub 09/05 continues to apply to coastal permits and certificates of compliance.

Other pages in: General articles

• Process for tax agents to obtain electronic authorities to act
• Notice - Income tax treatment of unsuccessful software development
• Review of Public Information Bulletins
• Changes to the disputes resolution process
• Making tax easier - Government consultation June 9 to 23 July 2010
• Guidance on a "reasonable daily travelling distance"
• Protocols between the Solicitor-General and Commissioner of Inland Revenue
• Panel statement RAP 002: Process for resolving potential unintended legislative changes in the Income Tax Act 2007
• Inland Revenue's Public Rulings Unit
• Statement on fringe benefit tax and motor vehicle multi-leases
• Subsidised transport provided by employers to employees - value for fringe benefit tax purposes
• New tax information exchange agreement with the Netherlands on behalf of the Netherlands Antilles
• The Commissioner's Table of Depreciation Rates
• Notice - Income Tax Act 2007
• The Adjudication Unit - its role in the dispute resolution process
• Removal of 5 cent coins from circulation - effect on GST tax invoices
• Summary of unintended legislative change submissions where Rewrite Advisory Panel considered there was no unintended legislative change

Date published: 08 Jul 2009

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