The Panel is only able to deal with particular issues on which the Minister of Revenue calls for submissions. These issues do not include matters that have already been accepted for the tax policy work programme.
The Minister of Revenue has called for submissions on the following Remedial Issues:
Remedial Issue Ref |
Remedial Issue |
Submissions Due by |
Submission Ref |
Remedial Issue Submissions Description |
Status of Remedial Issue |
|
R-1
|
Available
Subscribed Capital (ASC) on corporate reorganisation
(announced 23
July 2010)
|
3rd Sep 10
|
R-1-001
|
ASC on company amalgamations - (Ernst & Young) |
Completed - The Panel
recommends that any consequential tax issues be placed on the
tax policy work programme. |
|
R-1-002
|
Share for share exchange
limitations - (Ernst & Young) |
|
R-1-003
|
Debt capitalisations - (Ernst &
Young) |
|
|
R-1-004
|
Cost of acquired shares where the share for share limitation
applies - (Chapman Tripp) |
Completed - The Panel recommends that any consequential tax
issues be placed on the tax policy work programme. |
|
R-2
|
Beneficiary income of trusts.
(announced 23 July 2010)
|
3rd Sep 10 |
R-2-001
|
Distribution of income to
charitable trusts as beneficiary income - (Simpson Grierson) |
Report has gone to Minister |
|
R-2-002
|
Distributions from charitable
trusts are not "beneficiary income" - (Simpson Grierson) |
Report has gone to Minister |
|
R-2-003
|
Treatment of notional income as
beneficiary income - (Includes PIE income, FIF income FDR
method) |
Report has gone to Minister |
|
|
R-2-004
|
Can notional income vest
absolutely in interest? |
Report has gone to
Minister |
|
R-2-005
|
Distribution of losses -
(PricewaterhouseCoopers/Ernst & Young) |
Report has gone to
Minister |
|
R-2-006
|
Dsitribution of imputation credits
where losses/expenses - (PricewaterhouseCoopers) |
Report has gone to
Minister |
|
R-2-007
|
Distribution of FDR FIF income -
(PricewaterhouseCoopers) |
Report has gone to
Minister |
|
R-2-008
|
Payment of supplementary dividends
- (PricewaterhouseCoopers) |
Report has gone to
Minister |
|
R-2-009
|
Gross versus net income issues -
(Ernst & Young) |
Report has gone to
Minister |
|
R-2-010
|
Time of derivation of beneficiary
income - (Ernst & Young) |
Report has gone to
Minister |
|
R-2-011
|
Allocation of PIE income to
beneficiaries of trusts - (Ernst & Young) |
Report has gone to
Minister |
|
R-3
|
Whether the determination
of the value of a "benefit" in the Income Tax Act 2007 is a
gross concept and whether the Act is consistent in its
approach to the issue
(announced 3 October 2011)
|
28th Oct 2011 |
R-3-001 |
Determining the
value of a "benefit" in the Income Tax Act 2007, whether or
not a gross concept applies and whether or not the Act
is consistent in its approach to the issue - (Ernst & Young) |
|
|
|
|
|
|
|
|
|
|
R-4
|
Whether the Tax
Administration Act 1994 should allow the Commissioner of
Inland Revenue to make a binding ruling in relation to a
taxpayer's circumstances for an income year or period of time,
despite the taxpayer having already made a self-assessment of
a taxation obligation for that year or period.
(announced 3 October 2011)
|
28th Oct 2011 |
|
|
|
|
|
|
|
|
|
|
|
|
R-5
|
If the Commissioner writes
off uncollectible amounts of tax and makes consequential
adjustments to a loss balance from a prior year or years under
provisions of the Tax Administration Act 1994, whether the
Commissioner should take into account provisions of sub-part
CG of the Income Tax Act 2007 in determining the amount of
adjustment to the loss balance.
(announced 3 October 2011)
|
28th Oct 2011 |
|
|
|
|
|
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