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Public consultation Uiuinga tūmatanui

Consultation on draft items

We focus on producing items that accurately and fairly reflect taxation legislation, and are useful in practical situations. Your input into the process is highly valued.

On this page:

Currently consulting on

Let us know what you think about our drafts. Are they technically accurate? Do they fairly reflect taxation legislation? Are they in line with commercial reality and useful in practical situations?


ED0218: Student loan repayment – options for relief

This draft standard practice statement sets out Inland Revenue’s practice for providing relief under the Student Loan Scheme Act 2011.

Comment deadline: 24 December 2019

ED0218 - PDF format (120kb | 14 pages)


PUB00326: Income tax - when is development or division work minor?

This interpretation statement provides guidance to help readers assess whether development or division work they are undertaking on land is minor, such that the amount they receive from the disposal of that land will not be subject to tax under s CB 12. It replaces the earlier interpretation guideline “Work of a minor nature”, Tax Information Bulletin Vol 17, No 1 (February 2005).

Comment deadline: 19 December 2019

PUB00326 - PDF format (376kb | 34 pages)


Determination G31: NZX Milk Price Futures Contracts: an expected value approach

This draft determination provides the method that must be used to calculate the income derived and the expenditure incurred by a farmer who does not use IFRS and enters into an NZX MKP Milk Price Futures Contract for the sole purpose of hedging the price received for all or part of their anticipated future milk production. Please send submissions for this determination to policy.webmaster@ird.govt.nz.

Comment deadline: 13 December 2019

Determination G31 - PDF format (359kb | 13 pages)


ED0221: Tax payments – when received in time

Standard practice statements describe how the Commissioner of Inland Revenue will exercise a statutory discretion or deal with practical issues arising out of the administration of the Inland Revenue Acts. ED0221 sets out the Inland Revenue’s practice for accepting tax payments as having been made in time.

Comment deadline: 13 December 2019

ED0221 - PDF format (51kb | 4 pages)


PUB00347: GST treatment of short-stay accommodation

This draft interpretation statement is part of a series of guidance on the income tax and GST consequences of providing short-stay accommodation through peer-to-peer websites such as Airbnb, Bookabach and Holiday Houses. It explains the GST treatment of short-stay accommodation. The Statement confirms the supply of short-stay accommodation will not be an exempt supply and then discusses the requirements for registration, the main consequences of registration and what happens when the property is sold or the short-stay accommodation activity ceases.

Comment deadline: 3 December 2019

PUB00347 - PDF format (714kb | 51 pages)


PUB00346: If property held in a trust is rented out by a beneficiary of the trust for short-stay accommodation, who should declare the income, and what deductions can be claimed?

This draft Question We’ve Been Asked is part of a series of guidance on the income tax and GST consequences of providing short-stay accommodation through peer-to-peer websites such as Airbnb, Bookabach and Holiday Houses. It explains how the income tax rules apply if property held in a trust is rented out by a beneficiary of the trust.

Comment deadline: 3 December 2019

PUB00346 - PDF format (222kb | 9 pages)


PUB00346: If property held in a trust is rented out by the trustees for short-stay accommodation, who should declare the income, and what deductions can be claimed?

This draft Question We’ve Been Asked is part of a series of guidance on the income tax and GST consequences of providing short-stay accommodation through peer-to-peer websites such as Airbnb, Bookabach and Holiday Houses. It explains how the income tax rules apply if property held in a trust is rented out by the trustees.

Comment deadline: 3 December 2019

PUB00346 - PDF format (209kb | 10 pages)


PUB00369: Income tax - treatment of alteration to rights attached to shares under section CB 4

The rulings are a re-issue of rulings BR Pub 17/04 and BR Pub 17/05. They concern an arrangement where a shareholder holds shares in a company and the shares were acquired for the purpose of disposal. Subsequently, the rights attached to the shares are altered and the following apply: The shares are in a company registered under the Companies Act 1993; and the alteration is not structured as a cancellation and issue of shares. For the avoidance of doubt, the arrangement does not include an arrangement where s BG 1 applies to void the arrangement. Consistently with the rulings originally issued, the rulings conclude that: An alteration of share rights does not result in a disposal of personal property for the purposes of s CB 4; and the time of acquisition of the shares where the rights attached to them are altered after acquisition is the time the shares were acquired before the alteration.

Comment deadline: 2 December 2019

PUB00369 - PDF format (183kb | 12 pages)


Providing feedback on draft items

You can email your comments to us at public.consultation@ird.govt.nz  This email address is only for providing feedback on public drafts.

For all other feedback, please use our Comments and feedback form.

If you wish to post us your comments, send them to:

Team Manager, Technical Services
Office of the Chief Tax Counsel
National Office
Inland Revenue Department
PO Box 2198
Wellington

Related links

Expired draft items 
Public consultation process 
Public Rulings work programme

 

 

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