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This site contains the Commissioner’s interpretation of existing tax law, our Work Programme for the year, and where you can provide feedback on any new work underway or apply for a binding tax interpretation.
This site contains the Commissioner’s interpretation of existing tax law. Read more

TDS 24/05 Sale of bare land when intended for a subdivision

28 Mar 2024 Technical decision summary / 2024
Income tax: intention to sell; subdivision; sale of bare land; joint venture; partnership; identifiable capital asset.

TDS 24/04 Receipt of a one-off payment

25 Mar 2024 Technical decision summary / 2024
Income tax: derivation, financial arrangement, loan, money lent, one-off payment.

IS 24/02 GST – Grouping for companies

22 Mar 2024 Interpretation statements / 2024
This interpretation statement explains the consequences of GST grouping for companies.  It contains examples which illustrate how the GST grouping rules apply to various scenarios.  It also discusses some of the specific compliance and administrative rules that apply to GST groups.  

IS 24/03 GST – Who can group register?

22 Mar 2024 Interpretation statements / 2024
This interpretation statement considers who can group register under s 55 of the Goods and Services Tax Act 1985.

IS 24/03 FS GST – Who can group register? - fact sheet

22 Mar 2024 Fact sheets / 2024
This fact sheet accompanies IS 24/03: GST – Who can group register? which considers who can group register under s 55 of the Goods and Services Tax Act 1985 (GSTA).

CSUM 24/02 Taxpayer challenge to timeliness of Commissioner's Statement of Position (CSOP) dismissed by TRA

08 Mar 2024 Case summaries / 2024

The Commissioner’s Statement of Position (CSOP) was issued within the relevant response period even if it was not received within that response period.

In regard to email, these are received when the email leaves the information system of the sender and enters the information system of the recipient.

“Information system” is not confined to a specific part of an information system (such as an email address) but extends to the architecture needed to produce, send, receive, store, display, or otherwise process electronic communications.

NSC 2024 National standard costs for specified livestock determination 2024

05 Mar 2024 Determinations / Livestock / Standard costs

2024 determination lists the national standard costs for specified livestock.

Vol 36 No 2 TIB - March 2024

29 Feb 2024 TIB / Volume 36 - 2024

New legislation

  • SL2023/295 – Order in Council – Student Loan Scheme (Repayment Threshold for 2024-25 Tax Year and Subsequent Tax Years) Regulations 2023

Determination

  • AE 24/01: Participating jurisdictions for the CRS applied standard

Ruling

  • BR Prd 23/07: Qantas Airways Limited

Interpretation statement

  • IS 24/01: Taxation of trusts

General article

  • GA 24/01: Proposed increase in the trustee tax rate to 39%

Technical decision summary

  • TDS 24/02: Renovation work on recently acquired properties and the capital limitation

Case summary

  • CSUM 24/01: TRA finds the disputants suppressed income

TDS 24/03 Fringe Benefit Tax: discounted goods provided by third party

22 Feb 2024 Technical decision summary / 2024
Fringe benefit: discount provided by third party; value of fringe benefit

GA 24/01 Proposed increase in the trustee tax rate to 39%

02 Feb 2024 General articles / 2024

The Government has proposed that from the 2024/25 income year, the tax rate applying to trustee income will increase to 39% to align with the top personal tax rate. These changes were included in the Taxation (Annual Rates for 2023-24, Multinational Tax, and Remedial Matters) Bill introduced on 18 May 2023. The proposals in the Bill are not legislation until enacted and are subject to change through the parliamentary process. 

Since the increase in trustee tax rate was proposed, Inland Revenue has been asked to provide guidance around how it may perceive some taxpayer transactions and structural changes. This article is intended to provide high-level guidance based on Inland Revenue’s interpretation of the current law. 

Tax Information Bulletin - Vol 36 No 2, March 2024

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Consultation closing soon 

PUB00367: Income tax - Partnerships (including limited partnerships) - general guidance

Consultation closes: 24 April 2024

 

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