Technical tax area: Interpretation guidelines and interpretation statements
Download interpretation guidelines and interpretation statements
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Interpretation guidelines discuss the Commissioner's approach to the interpretation of a general area of law where there are also taxation implications. For example, IG009: Employee or independent contractor? assists taxpayers to determine their employment status for tax purposes.
- Interpretation statements set out the Commissioner's view of the taxation laws in relation to a particular set of circumstances in cases when a binding public ruling cannot be issued or is considered to be inappropriate.
The table below lists interpretation guidelines and interpretation statements issued in 2011, other interpretations are sorted by the year in which they were issued.
IS 12/03 - Income tax - deductibility of repairs and maintenance expenditure - general principles
This interpretation statement considers the deductibility of costs incurred by a taxpayer to repair or maintain their property. It replaces and updates the Commissioner's earlier general statement on repairs and maintenance expenditure published in Tax Information Bulletin Vol 5, No 9 (February 1994).
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Date of issue: 29 June 2012
IS 12/03 - RTF format (2.83mb | 55 pages)
IS 12/03 - PDF format (973kb | 55 pages)
IS 12/02 - Income tax - whether income deemed to arise under tax law, but not trust law, can give rise to beneficiary income
This Interpretation Statement sets out the Commissioner's view on whether income deemed to arise under tax law, but not trust law, can give rise to beneficiary income under section HC 6 of the Income Tax Act 2007. The Commissioner's view is that, in some circumstances, deemed income can give rise to beneficiary income under section HC 6.
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Date of issue: 29 June 2012
IS 12/02 - RTF format (567kb | 28 pages)
IS 12/02 - PDF format (152kb | 28 pages)
IS 12/01 - Income tax: timing of share transfers for the purposes of the continuity provisions
This interpretation statement sets out the Commissioner’s view on who “holds” shares in a company and at what point during a sale of shares is there a change in who “holds” the shares. The Commissioner’s view of these matters is in regard of s YC 2 and the “continuity provisions” of the Income Tax Act 2007. The continuity provisions provide the rules for the carry forward and offsetting of losses, excess tax credits and credits in memoranda accounts based on shareholder-decision making rights carried by shares “held” by a person.
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Date of issue: 20 June 2012
IS 12/01
- RTF format (996kb | 41 pages)
IS 12/01
- PDF format (247kb | 41 pages)
IG 12/01 - Goods and services tax; income tax - “sham”
This interpretation guideline contains the Commissioner’s view on the law on sham. The essential characteristic of a sham is pretence. A sham exists where the parties intend the transaction documents to mislead third-parties as to the true nature of the relationship between the parties. The guideline sets out the meaning of sham, when sham can be alleged, how the courts determine whether this is a sham, and the consequences of a finding of sham.
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Date of issue: 14 June 2012
IG 12/01 - RTF format (438kb | 23 pages)
IG 12/01 - PDF format (116kb | 23 pages)
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Date published: 15 Jun 2007
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