[IRD] June 2011 – statement on deduction notices issued to banks

The latest issue of the Tax Information Bulletin Vol 23, No 5 (June 2011) is now available at www.ird.govt.nz/tib


In this issue you can read about:

– product ruling BR Prd 11/01: StockCo Limited

– CPI adjustments for standard-cost household service for childcare and boarding service providers

– 2011 national average market values of specified livestock

– FIF deemed rate of return set for 2010-11

– corrections to commentary on the Taxation (GST and Remedial Matters) Act 2010

– SPS 11/04: Compulsory deductions from bank accounts

– 2011 review of the Commissioner’s mileage rate for expenditure incurred for the business use of a motor vehicle.


Plus these case notes: Courier did not buy going concern; Valid timely NOPA a prerequisite to deemed acceptance; Court of Appeal dismisses taxpayer’s appeal in relation to an entitlement to de-register from GST; Commissioner’s application of the serious hardship provisions upheld by the Court of Appeal; Bias appeal dismissed on the basis of cause of action estoppel; and Exceptional circumstances examined by the Taxation Review Authority.

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