Description: The Arrangement is the supply by a registered person of legal services to a non-resident (who is outside New Zealand at the time the services are performed)

Description: This commentary is not a legally binding statement. The commentary is intended to help readers understand and apply the conclusions reached in Public Ruling BR Pub 15/03 (the Ruling).

Description: Section 61 of the Tax Administration Act 1994 ('TAA') requires taxpayers to disclose interests in foreign entities. Section 61(1) of the TAA states that a person who has a control or income interest in a foreign company or an attributing interest in a foreign investment fund ('FIF') at any time during the income year must disclose the interest held. However, section 61(2) of the TAA allows the Commissioner of Inland Revenue to exempt any person or class of persons from this requirement if disclosure is not necessary for the administration of the international tax rules (as defined in section YA 1) contained in the Income Tax Act 2007 ('the ITA').

Description: This exemption is made under section 61(2) of the Tax Administration Act 1994. It details interests in foreign companies and attributing interests in foreign investment funds ('FIFs') in relation to which any person is not required to comply with the requirements in section 61 of the Tax Administration Act 1994 to make disclosure of their interests, for the income year ended 31 March 2015.

Description: This determination may be cited as Special Determination S33: 'Application of the financial arrangements rules to the long term incentive plan established for senior executives of New Zealand Company Limited'.

Description: This determination relates to a funding transaction involving the issue of Notes by the Bank to the public pursuant to a Notes Deed Poll. The Notes will contain an exchange mechanism, so they can be recognised as Additional Tier 1 capital for the purposes of the Reserve Bank of New Zealand and Australian Prudential Regulation Authority frameworks relating to the capital adequacy of banks.

Description: Units in the Wellington Management Portfolios (Dublin) Plc: Global Bond Fund (WMP) - New Zealand dollar denominated share class (NZD Share Class) to which this determination applies, are an attributing interest in a foreign investment fund (FIF) for New Zealand resident investors.

Description: This Question We've Been Asked (QWBA) considers one of those scenarios concerning debt capitalisation.

Description: This Question We've Been Asked (QWBA) considers one of those scenarios concerning debt capitalisation.

Description: The Arrangement is the supply by a registered person of legal services to a non-resident (who is outside New Zealand at the time the services are performed)

Description: The issue for the Taxation Review Authority (-TRA-) was whether the input tax credit claimed by the disputant under s 21HB of the Goods and Services Tax Act 1985 ('GSTA') for the purchase of the house before 1 April 2011 is limited to zero, pursuant to s 3A(3) of the GSTA definition of 'input tax', where the supply is from an associated person.

Description: This decision relates to an application for review of an Associate Judge's decision filed by Peter William Mawhinney as trustee of the Forest Trust ('the Trust'). The decision which the Trust sought to review was that of Associate Judge Christiansen striking out part of the Trust's Statement of Claim in damages and ordering the Trust to pay $40,000 in security for costs (Mawhinney v Commissioner of Inland Revenue [2014] NZHC 1554).

Description: In 1988, the taxpayer (a property developer) purchased a large block of land in Christchurch and began construction of a retail shopping centre on the site. In 2003, before the development was fully complete, the taxpayer sold the centre to AMP. The agreement for sale and purchase between the taxpayer and AMP ('the Agreement') contained an 'option' which required the taxpayer to use its best endeavours to lease and build the undeveloped part of the centre.

Description: The taxpayer entered into a sale and purchase agreement to purchase land for the purpose of undertaking a large retail and residential development. The taxpayer obtained resource consent to build the development but the sale and purchase agreement was cancelled following civil litigation between the taxpayer and the vendor of the land.

Description: The taxpayer-s application for special leave to appeal the Taxation Review Authority's ('TRA's') decisions out of time was dismissed.

Description: This proceeding concerned an application for orders seeking, amongst other things, to set aside the initial High Court judgment of Venning J in Accent Management Ltd v Commissioner of Inland Revenue (2005) 22 NZTC 19,027 (HC) ('Accent 2004'). The plaintiffs claimed the judgment was in breach of the Bill of Rights Act 1990 on the basis that Venning J was biased towards the Commissioner, having become beholden to her following non-payment of $4,250 of stamp duty in 1992.

Description: New Zealand has received notification from the United States Government of more favourable terms being granted to another jurisdiction. These terms are to form part of the Foreign Account Tax Compliance Act intergovernmental agreement signed between New Zealand and the United States in July 2014.

Description: This commentary is not a legally binding statement. The commentary is intended to help readers understand and apply the conclusions reached in Public Ruling BR Pub 15/03 (the Ruling).

Description: Section 61 of the Tax Administration Act 1994 ('TAA') requires taxpayers to disclose interests in foreign entities. Section 61(1) of the TAA states that a person who has a control or income interest in a foreign company or an attributing interest in a foreign investment fund ('FIF') at any time during the income year must disclose the interest held. However, section 61(2) of the TAA allows the Commissioner of Inland Revenue to exempt any person or class of persons from this requirement if disclosure is not necessary for the administration of the international tax rules (as defined in section YA 1) contained in the Income Tax Act 2007 ('the ITA').

Description: This exemption is made under section 61(2) of the Tax Administration Act 1994. It details interests in foreign companies and attributing interests in foreign investment funds ('FIFs') in relation to which any person is not required to comply with the requirements in section 61 of the Tax Administration Act 1994 to make disclosure of their interests, for the income year ended 31 March 2015.

Description: This determination may be cited as Special Determination S33: 'Application of the financial arrangements rules to the long term incentive plan established for senior executives of New Zealand Company Limited'.

Description: This determination relates to a funding transaction involving the issue of Notes by the Bank to the public pursuant to a Notes Deed Poll. The Notes will contain an exchange mechanism, so they can be recognised as Additional Tier 1 capital for the purposes of the Reserve Bank of New Zealand and Australian Prudential Regulation Authority frameworks relating to the capital adequacy of banks.

Description: Units in the Wellington Management Portfolios (Dublin) Plc: Global Bond Fund (WMP) - New Zealand dollar denominated share class (NZD Share Class) to which this determination applies, are an attributing interest in a foreign investment fund (FIF) for New Zealand resident investors.

Description: This Question We've Been Asked (QWBA) considers one of those scenarios concerning debt capitalisation.

Description: This Question We've Been Asked (QWBA) considers one of those scenarios concerning debt capitalisation.

Description: The issue for the Taxation Review Authority (-TRA-) was whether the input tax credit claimed by the disputant under s 21HB of the Goods and Services Tax Act 1985 ('GSTA') for the purchase of the house before 1 April 2011 is limited to zero, pursuant to s 3A(3) of the GSTA definition of 'input tax', where the supply is from an associated person.

Description: This decision relates to an application for review of an Associate Judge's decision filed by Peter William Mawhinney as trustee of the Forest Trust ('the Trust'). The decision which the Trust sought to review was that of Associate Judge Christiansen striking out part of the Trust's Statement of Claim in damages and ordering the Trust to pay $40,000 in security for costs (Mawhinney v Commissioner of Inland Revenue [2014] NZHC 1554).

Description: In 1988, the taxpayer (a property developer) purchased a large block of land in Christchurch and began construction of a retail shopping centre on the site. In 2003, before the development was fully complete, the taxpayer sold the centre to AMP. The agreement for sale and purchase between the taxpayer and AMP ('the Agreement') contained an 'option' which required the taxpayer to use its best endeavours to lease and build the undeveloped part of the centre.

Description: The taxpayer entered into a sale and purchase agreement to purchase land for the purpose of undertaking a large retail and residential development. The taxpayer obtained resource consent to build the development but the sale and purchase agreement was cancelled following civil litigation between the taxpayer and the vendor of the land.

Description: The taxpayer-s application for special leave to appeal the Taxation Review Authority's ('TRA's') decisions out of time was dismissed.

Description: This proceeding concerned an application for orders seeking, amongst other things, to set aside the initial High Court judgment of Venning J in Accent Management Ltd v Commissioner of Inland Revenue (2005) 22 NZTC 19,027 (HC) ('Accent 2004'). The plaintiffs claimed the judgment was in breach of the Bill of Rights Act 1990 on the basis that Venning J was biased towards the Commissioner, having become beholden to her following non-payment of $4,250 of stamp duty in 1992.

Description: New Zealand has received notification from the United States Government of more favourable terms being granted to another jurisdiction. These terms are to form part of the Foreign Account Tax Compliance Act intergovernmental agreement signed between New Zealand and the United States in July 2014.