Description: These two public rulings, BR Pub 13/05 to BR Pub 13/06, deal with certain aspects of the income tax treatment of the standard form contract for public-private partnerships prepared by the Treasury. These two rulings do not consider the tax implications of any funding agreements or other contracts entered into by the parties. The two rulings are contained in a single document with a shared commentary.

Description: The Arrangement is the design, construction, operation and maintenance of an asset (the Facility) by a company (the special purpose vehicle-SPV) under a public-private partnership agreement with Her Majesty, The Queen in Right of New Zealand acting by and through a government department (the Crown).

Description: The Arrangement is the design, construction, operation and maintenance of an asset (the Facility) by a partnership (as that term is defined in s YA 1) (the special purpose vehicle-SPV) under a public-private partnership agreement with Her Majesty, The Queen in Right of New Zealand acting by and through a government department (the Crown). The definition of -partnership- in s YA 1 includes a limited partnership and a joint venture that chooses to be treated as a partnership.

Description: The Commissioner has set a general depreciation rate for Frost Fans (mobile) by adding a new asset class to the 'Agriculture, Horticulture and Aquaculture' industry category. Frost Fans (mobile) are used to protect crops from frost conditions and hot temperatures.

Description: The Income Tax (Minimum Family Tax Credit) Order 2013, made on 21 October 2013, increases the net income level guaranteed by the minimum family tax credit. The net income level will rise from $22,724 to $22,776 a year from 1 April 2014.

Description: Mr Bioletti was adjudicated bankrupt on 21 August 2013. A request for suspension of bankruptcy was sought pending appeal. The application was dismissed by the Court. Impact of decision - The same factors for whether a stay should be granted pending an appeal will apply when considering whether a suspension under section 416 of the Insolvency Act 2006 should be granted pending an appeal.

Description: This case was an appeal from the High Court which held that the statutory trust pursuant to section 167(1) of the Tax Administration Act 1994 ('the Act') is extinguished upon a company being liquidated. The majority of the Court of Appeal overturned the decision of the High Court and concluded after consideration of the legislative scheme and history and applicable case law that an established section 167(1) trust will not be extinguished upon liquidation.

Description: The decision by the Taxation Review Authority ('TRA') held that two of the three trustees, Mr and Mrs B, had the intention or purpose to sell when each of the relevant properties was acquired. This intention or purpose was attributable to the Trust as a whole, despite the third trustee asserting that she had no such purpose or intention. The TRA also held that the Trust's activities amounted to a business of erecting buildings and a taxable activity for goods and services tax ('GST') purposes. Accordingly, the trustees of the Trust were found to be jointly and severally liable to pay income tax and GST output tax on the sale proceeds from seven properties. The TRA also found that shortfall penalties for gross carelessness applied.

Description: This was a capital/revenue case involving a sale and purchase of a shopping centre that was partially completed at the time of sale. The Commissioner of Inland Revenue ('the Commissioner') considered that the Sale and Purchase Agreement contained two separate agreements, one for the completed portion of the shopping centre (an undeveloped land) as at the time of the agreement, and the other for subsequent development of the undeveloped portion.

Description: These two public rulings, BR Pub 13/05 to BR Pub 13/06, deal with certain aspects of the income tax treatment of the standard form contract for public-private partnerships prepared by the Treasury. These two rulings do not consider the tax implications of any funding agreements or other contracts entered into by the parties. The two rulings are contained in a single document with a shared commentary.

Description: An application made by the plaintiff to set aside the Commissioner of Inland Revenue's ('the Commissioner') statutory demand application. The plaintiff submitted that the amount claimed by the Commissioner was yet to be determined. The Court found that the amount owing had been determined in an earlier judgment and ordered the plaintiff to pay the sum of $819,268.18 within 10 working days of this judgment.

Description: The plaintiffs had previously unsuccessfully applied to have the Commissioner of Inland Revenue's ('the Commissioner') statutory demands set aside. This application was to stay the orders of the judgment of Faire AJ, pending the hearing and determination of an appeal. The plaintiff's application was refused.

Description: The taxpayer applied to the High Court for leave to bring an Originating Application, for more time to reply to the Commissioner of Inland Revenue's ('the Commissioner') Statement of Position ('SOP') under section 89M(11) of the Tax Administration Act 1994 ('TAA'). The High Court declined the application. Ronald Young J agreed with the Commissioner's position that there was no right of reply to the Commissioner's SOP in a taxpayer-initiated dispute.

Description: The Arrangement is the design, construction, operation and maintenance of an asset (the Facility) by a company (the special purpose vehicle-SPV) under a public-private partnership agreement with Her Majesty, The Queen in Right of New Zealand acting by and through a government department (the Crown).

Description: The Arrangement is the design, construction, operation and maintenance of an asset (the Facility) by a partnership (as that term is defined in s YA 1) (the special purpose vehicle-SPV) under a public-private partnership agreement with Her Majesty, The Queen in Right of New Zealand acting by and through a government department (the Crown). The definition of -partnership- in s YA 1 includes a limited partnership and a joint venture that chooses to be treated as a partnership.

Description: The Commissioner has set a general depreciation rate for Frost Fans (mobile) by adding a new asset class to the 'Agriculture, Horticulture and Aquaculture' industry category. Frost Fans (mobile) are used to protect crops from frost conditions and hot temperatures.

Description: The Income Tax (Minimum Family Tax Credit) Order 2013, made on 21 October 2013, increases the net income level guaranteed by the minimum family tax credit. The net income level will rise from $22,724 to $22,776 a year from 1 April 2014.

Description: Mr Bioletti was adjudicated bankrupt on 21 August 2013. A request for suspension of bankruptcy was sought pending appeal. The application was dismissed by the Court. Impact of decision - The same factors for whether a stay should be granted pending an appeal will apply when considering whether a suspension under section 416 of the Insolvency Act 2006 should be granted pending an appeal.

Description: This case was an appeal from the High Court which held that the statutory trust pursuant to section 167(1) of the Tax Administration Act 1994 ('the Act') is extinguished upon a company being liquidated. The majority of the Court of Appeal overturned the decision of the High Court and concluded after consideration of the legislative scheme and history and applicable case law that an established section 167(1) trust will not be extinguished upon liquidation.

Description: The decision by the Taxation Review Authority ('TRA') held that two of the three trustees, Mr and Mrs B, had the intention or purpose to sell when each of the relevant properties was acquired. This intention or purpose was attributable to the Trust as a whole, despite the third trustee asserting that she had no such purpose or intention. The TRA also held that the Trust's activities amounted to a business of erecting buildings and a taxable activity for goods and services tax ('GST') purposes. Accordingly, the trustees of the Trust were found to be jointly and severally liable to pay income tax and GST output tax on the sale proceeds from seven properties. The TRA also found that shortfall penalties for gross carelessness applied.

Description: This was a capital/revenue case involving a sale and purchase of a shopping centre that was partially completed at the time of sale. The Commissioner of Inland Revenue ('the Commissioner') considered that the Sale and Purchase Agreement contained two separate agreements, one for the completed portion of the shopping centre (an undeveloped land) as at the time of the agreement, and the other for subsequent development of the undeveloped portion.

Description: An application made by the plaintiff to set aside the Commissioner of Inland Revenue's ('the Commissioner') statutory demand application. The plaintiff submitted that the amount claimed by the Commissioner was yet to be determined. The Court found that the amount owing had been determined in an earlier judgment and ordered the plaintiff to pay the sum of $819,268.18 within 10 working days of this judgment.

Description: The plaintiffs had previously unsuccessfully applied to have the Commissioner of Inland Revenue's ('the Commissioner') statutory demands set aside. This application was to stay the orders of the judgment of Faire AJ, pending the hearing and determination of an appeal. The plaintiff's application was refused.

Description: The taxpayer applied to the High Court for leave to bring an Originating Application, for more time to reply to the Commissioner of Inland Revenue's ('the Commissioner') Statement of Position ('SOP') under section 89M(11) of the Tax Administration Act 1994 ('TAA'). The High Court declined the application. Ronald Young J agreed with the Commissioner's position that there was no right of reply to the Commissioner's SOP in a taxpayer-initiated dispute.