Description: This new Act received Royal assent on 29 March 2018. It sets the annual rates of income tax for the 2017-18 tax year and implements measures to improve information Inland Revenue receives about people's employment and investment income. It also makes changes to the taxation of employee share schemes and extends the brightline test from two years to five years. It also implements several other policy changes and contains numerous technical changes to ensure the tax rules work as intended.

Description: The Arrangement is the receipt by the Harbour Fund III Limited Partnership of proceeds pursuant to individual funding agreements that the Fund will enter into with litigation claimants to a proposed class action against Carter Holt Harvey Limited and the other Carter Holt Harvey entities, under which the Fund will agree to pay all legal and other costs incurred by the Claimants, in return for a share of the Proceeds

Description: This ruling applies to a BNZ product called TotalMoney, a package of accounts and loans offered to customers. TotalMoney allows customers to group or aggregate accounts for the purposes of either 'pooling' or 'offsetting' the account balances.

Description: This item considers the situation where a binding private or product ruling has been issued for an ongoing arrangement, and the Commissioner's view of how the general anti-avoidance provision applies to the arrangement subsequently changes. The item concludes that the Commissioner can apply the anti-avoidance provision to any period following the expiry of the ruling.

Description: This determination relates to an arrangement involving the finance, design, construction and on-going provision of asset management and facilities maintenance services in respect of a Facility by a limited partnership under a public-private partnership agreement with the Crown.

Description: This determination relates to the issue of equity subordinated notes (ESNs) by a limited partnership to two of its limited partners (the Subscribers). The ESNs will be deemed to be repaid at a single, or several, nominated date(s) in the future, with the proceeds used to satisfy the Subscribers' obligation to contribute a total of 60% of the required capital of Holdings LP.

Description: A review of the annual movement of the CPI for the twelve months to March 2018 has resulted in a change to standard-cost amounts for the 2018 income year

Description: A review of the annual movement of the CPI for the twelve months to March 2018 has resulted in a change to standard-cost amounts for the 2018 income year.

Description: This article provides the exchange rates acceptable to Inland Revenue for converting foreign currency amounts to New Zealand dollars under the controlled foreign company and foreign investment fund rules for the 12 months ending 31 March 2018.

Description: This new Act received Royal assent on 29 March 2018. It sets the annual rates of income tax for the 2017-18 tax year and implements measures to improve information Inland Revenue receives about people's employment and investment income. It also makes changes to the taxation of employee share schemes and extends the brightline test from two years to five years. It also implements several other policy changes and contains numerous technical changes to ensure the tax rules work as intended.

Description: Mr Robertson was appointed liquidator of a company by resolution of the sole director and shareholder. The company was under audit by the Commissioner of Inland Revenue ('the Commissioner') and a GST refund of $159,910.58 which had been claimed by the company was held back. When the Commissioner's audit was completed it was clear that a net debt was owed by the company to the Commissioner. However when the audit was completed the system automatically lifted the halt on payments and the GST refund was paid out to Mr Robertson. Mr Robertson proceeded to disburse the funds. The ultimate recipients of the refund were: a trust with which Mr Robertson was associated; the former shareholder/director of the company; and Mr Robertson's former business associates/employees. The High Court found that Mr Robertson had misapplied company funds and ordered Mr Robertson to repay the money to the Commissioner pursuant to s 301 of the Companies Act 1993.

Description: The Taxation Review Authority upheld an application by the Commissioner of Inland Revenue to strike out the disputant's notice of claim on the basis that the proceedings were not commenced by the disputant within the response period under s 138B of the Tax Administration Act 1994 ('the TAA'), and that the disputant did not establish exceptional circumstances to allow the disputant to commence the proceedings after the response period pursuant to s 138D(1) of the TAA.

Description: The appellant in these proceedings, Dr Garry Albert Muir ('Dr Muir') appealed the High Court decision of Associate Judge Bell (in Commissioner of Inland Revenue v Muir [2017] NZHC 1413, (2017) 28 NZTC 23-019) granting summary judgment in favour of the respondent, the Commissioner of Inland Revenue. The summary judgment application consisted of unpaid income taxes, interest and penalties for the years ended 31 March 1997 to 31 March 2010 totalling $8,179,830.94. The Court dismissed Dr Muir's appeal.

Description: The Arrangement is the receipt by the Harbour Fund III Limited Partnership of proceeds pursuant to individual funding agreements that the Fund will enter into with litigation claimants to a proposed class action against Carter Holt Harvey Limited and the other Carter Holt Harvey entities, under which the Fund will agree to pay all legal and other costs incurred by the Claimants, in return for a share of the Proceeds

Description: This ruling applies to a BNZ product called TotalMoney, a package of accounts and loans offered to customers. TotalMoney allows customers to group or aggregate accounts for the purposes of either 'pooling' or 'offsetting' the account balances.

Description: This item considers the situation where a binding private or product ruling has been issued for an ongoing arrangement, and the Commissioner's view of how the general anti-avoidance provision applies to the arrangement subsequently changes. The item concludes that the Commissioner can apply the anti-avoidance provision to any period following the expiry of the ruling.

Description: This determination relates to an arrangement involving the finance, design, construction and on-going provision of asset management and facilities maintenance services in respect of a Facility by a limited partnership under a public-private partnership agreement with the Crown.

Description: This determination relates to the issue of equity subordinated notes (ESNs) by a limited partnership to two of its limited partners (the Subscribers). The ESNs will be deemed to be repaid at a single, or several, nominated date(s) in the future, with the proceeds used to satisfy the Subscribers' obligation to contribute a total of 60% of the required capital of Holdings LP.

Description: A review of the annual movement of the CPI for the twelve months to March 2018 has resulted in a change to standard-cost amounts for the 2018 income year

Description: A review of the annual movement of the CPI for the twelve months to March 2018 has resulted in a change to standard-cost amounts for the 2018 income year.

Description: This article provides the exchange rates acceptable to Inland Revenue for converting foreign currency amounts to New Zealand dollars under the controlled foreign company and foreign investment fund rules for the 12 months ending 31 March 2018.

Description: Mr Robertson was appointed liquidator of a company by resolution of the sole director and shareholder. The company was under audit by the Commissioner of Inland Revenue ('the Commissioner') and a GST refund of $159,910.58 which had been claimed by the company was held back. When the Commissioner's audit was completed it was clear that a net debt was owed by the company to the Commissioner. However when the audit was completed the system automatically lifted the halt on payments and the GST refund was paid out to Mr Robertson. Mr Robertson proceeded to disburse the funds. The ultimate recipients of the refund were: a trust with which Mr Robertson was associated; the former shareholder/director of the company; and Mr Robertson's former business associates/employees. The High Court found that Mr Robertson had misapplied company funds and ordered Mr Robertson to repay the money to the Commissioner pursuant to s 301 of the Companies Act 1993.

Description: The Taxation Review Authority upheld an application by the Commissioner of Inland Revenue to strike out the disputant's notice of claim on the basis that the proceedings were not commenced by the disputant within the response period under s 138B of the Tax Administration Act 1994 ('the TAA'), and that the disputant did not establish exceptional circumstances to allow the disputant to commence the proceedings after the response period pursuant to s 138D(1) of the TAA.

Description: The appellant in these proceedings, Dr Garry Albert Muir ('Dr Muir') appealed the High Court decision of Associate Judge Bell (in Commissioner of Inland Revenue v Muir [2017] NZHC 1413, (2017) 28 NZTC 23-019) granting summary judgment in favour of the respondent, the Commissioner of Inland Revenue. The summary judgment application consisted of unpaid income taxes, interest and penalties for the years ended 31 March 1997 to 31 March 2010 totalling $8,179,830.94. The Court dismissed Dr Muir's appeal.