In this issue you can read:

– binding rulings BR Pub 10/01-10/05: Australian Limited Partnerships; and BR Pub 10/21: Interest repayments required as a result of the early repayment of a financial arrangement – deductibility

– about the Taxation (GST and Remedial Matters) Act 2010 and Orders in Council: Use-of-money interest rates change; Minimum family tax credit income amount increased

– a new industry-specific balance date for kiwifruit orchardists

– determinations S17: Utilisation of a profit emerging basis for purchased debt ledgers by a certain New Zealand Company Limited; and DEP 76: Tax depreciation rates general determination number

76

– a question we*ve been asked about elections for qualifying company status

– a review of Public Information Bulletins.

 

Plus these case notes: Who is liable for GST, the receiver or the partnership; Supreme Court denies leave to appeal; Taxpayer entitled to discontinue a test case; As a general rule, insolvent companies should be liquidated.

 

The latest issue of the Tax Information Bulletin Vol 23, No 1 (February 2011) is now available at www.ird.govt.nz/tib