The latest issue of the Tax Information Bulletin Vol 22, No 2 (March 2010) is now available at: http://www.ird.govt.nz/tib In this issue you can read about:

* Binding rulings dealing with tax exemptions for payments from The Royal New Zealand College of General Practitioners; and an arrangement by BNZ Income Securities 2 Limited.

* Determinations on new asset classes for tax depreciation rates; 2010 national standard costs for specified livestock; and the issue of perpetual non-cumulative shares by BNZIS 2.

* Are tax sparing disclosures (IR486) still required?

Plus these case notes: Invalid asset transfers were in reality loans; No "public importance"; leave denied; Non-party inspection of court records and documents; Taxpayers refused leave to appeal to Supreme Court; TRA finds in favour of taxpayer - no tax avoidance; Trust in business of holding financial arrangements and allowed bad debt deduction; High Court finds no reviewable error made by Commissioner.

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