In this issue you can read:

– about the Taxation (Budget Measures) Act 2010

– a determination on financial arrangement income or expenditure from certain retirement village arrangements; and depreciation of equestrian arenas

– an interpretation statement on non-resident contractor schedular payments

– standard practice statements on recording Inland Revenue interviews; imaging of electronic storage media; and acceptance of late objections under section 92(2) of the Child Support Act 1991

– a question about section 78(3) of the Goods and Services Tax Act 1985.

 

Plus these case notes: Stay of liquidation pending appeal of compromise application refused; Judicial review of assessments refused; Income splitting ruled by Court of Appeal as tax avoidance; Contractor not a party to a sham; Discovery rights remain notwithstanding the evidence exclusion rule; Leave to address consequential matters in a decision is not a substitute for an appeal; Taxpayer fails in attempt to re-litigate claim.

 

The latest issue of the Tax Information Bulletin Vol 22, No 7 (August

2010) is now available at www.ird.govt.nz/tib