In this issue you can read about:

– the 2011 International tax disclosure exemption ITR21

– determinations on non-attributing active insurance CFC status (TOWER Insurance Limited) in Fiji and Papua New Guinea

– QB 11/01: Residential investment property or properties in Australia owned by New Zealand resident – NRWT treatment of interest paid to Australian financial institution

– QB 11/02: Deductibility of expenditure incurred by bloodstock breeders in respect of horses that they race.

 

Plus these case notes: Further and better discovery; Deductibility of share losses; and a further Trinity argument estopped.

 

The latest issue of the Tax Information Bulletin Vol 23, No 3 (April 2011) is now available at www.ird.govt.nz/tib