Tax Income Outline by alq95555

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									                         A                       C          D                      F                  G          H          I          J         K
1    DRAFT TONGAN INLAND REVENUE INCOME TAX PUBLIC RULINGS PROGRAM 2007-08
                                                                                                             Approving Planned       Draft    Planned
                      Topic                   Notified   Priority      Reason for Inclusion         Author
3                                                                                                             Officer  Draft Date   Issued   Final Date
                                                                    To outline the system of
     INCOME TAX: public and written rulings
4                                             3-May-07 High         public and written rulings      MOS      Lepaola     19-Jan-08 No need    27-Apr-08
                                                                    To explain the principles
                                                                    associated with record
     INCOME TAX: record keeping general
                                                                    keeping and what are
     principles and electronic records
                                                                    sufficient records for
5                                             3-May-07 High         electronic records              MOS      Parveen     19-Jan-08 No need    27-Apr-08

     INCOME TAX: bad debts                                          To clarify what is a bad debt
6                                             3-May-07 Medium       and when a debt is bad          MOS      Parveen     19-Jan-08 Not yet    27-Apr-08
                                                                    To help taxpayers work out
     INCOME TAX: employee and                                       their correct employment
     independent contractor                                         status by setting out the
7                                             3-May-07 Medium       common law tests                MOS      Lepaola     19-Jan-08 Not yet    27-Apr-08
                                                                    To explain what are
     INCOME TAX: deductibility of                                   management fees and when
     management fees                                                they are allowable
8                                             3-May-07 Medium       deductions                      MOS      Parveen    19-Mar-08 Not yet     27-Apr-08
                                                                    To provide the Chief
     INCOME TAX: deductibility of interest                          Commissioner's view of
9                                             3-May-07 Medium       when interest is deductible     MOS      Lepaola    19-Mar-08 Not yet     27-Apr-08
                                                                    To set out the Chief
                                                                    Commissioner's view as to
                                                                    whether the word 'incurred'
     INCOME TAX: meaning of "incurred" and
                                                                    has the same meaning for
     timing of deductions
                                                                    receipts basis taxpayers and
                                                                    accruals/earnings basis
10                                            3-May-07 Medium       taxpayers                       MOS      Lepaola    19-Mar-08 Not yet     27-Apr-08
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                       A                         C        D                      F                  G        H          I          J         K
                                                                                                         Approving Planned       Draft    Planned
                     Topic                             Priority      Reason for Inclusion         Author
16                                                                                                        Officer  Draft Date   Issued   Final Date

                                                                  To set out the approach the
     INCOME TAX: goods taken from trading
                                                                  Chief Commissioner's will
     stock for own use
                                                                  accept for goods taken from
17                                            3-May-07 High       trading stock for own use       MOS    Parveen     19-Jan-08 Not yet    27-Apr-08
                                                                  To explain what is rent and
                                                                  when an item in a residential
                                                                  property can be
     INCOME TAX: income tax issues relating
                                                                  depreciated, and non
     to rental properties
                                                                  economic rental, holiday
                                                                  home, share of residence
21                                            3-May-07 Medium     and family trusts cases         MOS    Feleti      19-Mar-08 Not yet    27-Apr-08
                                                                  To provide the Chief
                                                                  Commissioner's view of
     INCOME TAX: income tax exemption of
                                                                  what is a non profit
     non-profit organisations
                                                                  organisation and when is it
22                                            3-May-07 Medium     exempt from income tax          MOS    Feleti      19-Mar-08 Not yet    27-Apr-08
                                                                  To explain issues relating to
                                                                  trading stock including
     INCOME TAX: income tax issues relating                       motor traders, stock on
     to trading stock                                             consignment, hire and rental
                                                                  business, and spare parts
23                                            3-May-07 high       and consumables                 MOS    Parveen     19-Mar-08 Not yet    27-Jun-08
     INCOME TAX: income tax issues relating
                                                                  To explain what is a repair
     to repairs
24                                            3-May-07 Medium     and what is an improvement MOS         Parveen     19-Mar-08 Not yet    27-Jun-08
                                                                  To explain what is a
     INCOME TAX: what is a business and                           business and when is a
     am I carrying on a business of                               person carrying on a
     professional farming or fishing                              business of farming or
25                                            3-May-07 high       fishing                     MOS        Feleti      19-Mar-08 Not yet    27-Jun-08
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                                                                        Page 2
                          A                           C        D                     F                G       H          I          J         K
                                                                                                          Approving Planned       Draft    Planned
                       Topic                                Priority     Reason for Inclusion      Author
29                                                                                                         Officer  Draft Date   Issued   Final Date
                                                                       To explain what is a
     INCOME TAX: income tax issues relating                            permanent establishment
     to permanent establishments                                       and the consequences of
31                                                 3-May-07 medium     income tax purposes         MOS     Lepaola    19-Mar-08 Not yet    27-Jun-08

                                                                       To outline what is an
     INCOME TAX: objections against income
                                                                       objection and when an
     tax assessments
                                                                       extension of time to lodge
36                                                 3-May-07 medium     an objection may be granted MOS     Lepoala    19-Mar-08 Not yet    27-Jun-08
                                                                       To outline the principles
     INCOME TAX: legal expenses incurred                               concerning the non
     for fines and/or breaches of the law in the                       deductibility of legal
     course of carrying on a business                                  expenses for fines and other
39                                         3-May-07 medium             breaches of the law          MOS    Lepoala    19-Mar-08 Not yet    27-Jun-08
   INCOME TAX: income tax issues relating                              To explain the policy on
40 to leasing                              3-May-07 medium             leasing transactions         MOS    Parveen    19-Mar-08 Not yet    27-Jun-08
   INCOME TAX: income tax issues relating
   to anti avoidance provisions including                              To provide guidance as to
   associates, non arms length transaction                             what is an avoidance
41 and transfer pricing                    3-May-07 medium             transaction                 MOS     Lepoala    19-Mar-08 Not yet    27-Jun-08
                                                                       To set out the rules
     INCOME TAX: disposal and acquisition of                           concerning the income tax
     a business asset                                                  consequences of the sale of
42                                                 3-May-07 high       business assets             MOS     Parveen    19-Mar-08 Not yet    27-Jun-08
     INCOME TAX: what is a dividend
44                                                 3-May-07 medium     To outline what is a dividend MOS   Parveen    19-Mar-08 Not yet    27-Jun-08

                                                                       To provide guidance by
     INCOME TAX: method of accounting for                              discussing what factors are
     income tax - cash basis versus accruals                           relevant in determining what
     basis accounting                                                  is the correct method of
                                                                       bringing income to account
46                                                 3-May-07 high       for income tax purposes      MOS    Parveen    19-Mar-08 Not yet    27-Jun-08




                                                                            Page 3
                         A                          C        D                     F                G       H          I          J         K
                                                                                                        Approving               Draft    Planned
                       Topic                              Priority     Reason for Inclusion      Author             19-Mar
47                                                                                                       Officer               Issued   Final Date
   INCOME TAX: income tax issues relating                            To outline what is a
   to withholding amounts including royalties,                       withholding amount and
   natural resource amounts and technical                            when withholding should be
48 services fees                               3-May-07 high         deducted                   MOS      Parveen    19-Mar-08 Not yet    27-Jun-08
     INCOME TAX: income tax issues relating
                                                                     To explain the income tax
     to intangibles
50                                               3-May-07 medium     consequences of intangibles MOS     Lepoala    19-Mar-08 Not yet    27-Jun-08

                                                                     To explain who is a resident
     INCOME TAX: income tax issues relating                          and non resident and the
     to residents and non residents                                  income tax consequences
                                                                     of shipping and air transport
51                                               3-May-07 medium     income of a non resident      MOS   Parveen    19-Mar-08 Not yet    27-Jun-08
                                                                     To help taxpayers work out
     INCOME TAX: income tax issues relating
                                                                     what type of income they
     various types of income - employment,
                                                                     have received and what are
     business and property
53                                               3-May-07 high       the consequences              MOS   Feleti     19-Mar-08 Not yet    27-Jun-08
                                                                     To explain the general
     INCOME TAX: general principles of                               principles of deductibility
     deductibility and what deductions are not                       and what deductions are
     allowed                                                         specifically excluded under
54                                               3-May-07 high       the Act                       MOS   Lepoala    19-Mar-08 Not yet    27-Jun-08

                                                                     To explain the general
                                                                     principles of depreciation
                                                                     including what is straight
                                                                     line and diminishing value
     INCOME TAX: general principles of
                                                                     depreciation, amortisation of
     depreciation
                                                                     intangibles and preliminary
                                                                     expenditure, and the written
                                                                     down value and disposal of
                                                                     depreciable assets and
55                                               3-May-07 high       intangibles                   MOS   Parveen    19-Mar-08 Not yet    27-Jun-08




                                                                          Page 4
                         A                          C        D                      F                  G        H          I          J         K
                                                                                                            Approving Planned       Draft    Planned
                       Topic                              Priority      Reason for Inclusion         Author
56                                                                                                           Officer  Draft Date   Issued   Final Date
                                                                     To explain when and how
     INCOME TAX: deductibility of                                    much of a contribution to an
     contributions to approved retirement fund                       approved retirement fund is
57                                               3-May-07 medium     deductible                      MOS    Feleti      19-Mar-08 Not yet    27-Jun-08
   INCOME TAX: what income is exempt                                 To set out what income is
58 from income tax                               3-May-07 medium     exempt from income tax          MOS    Feleti      19-Mar-08 Not yet    27-Jun-08
                                                                     To set out the general
                                                                     principles concerning losses
     INCOME TAX: deductibility of losses and                         including their deductibility
     carry forward of business losses and                            and when they can be
     continuity of ownership and same                                carried forward and what
     business test                                                   tests need to be applied in
                                                                     order to determine
59                                               3-May-07 medium     deductibility                   MOS    Parveen     19-Mar-08 Not yet    27-Jun-08
                                                                     To set out the Chief
                                                                     Commissioner's views as to
     INCOME TAX: income tax issues relating                          what is the appropriate
     to long term contracts                                          method of accounting for
                                                                     income and deductions
60                                               3-May-07 medium     under long term contracts       MOS    Parveen     19-Mar-08 Not yet    27-Jun-08
                                                                     To explain how income and
     INCOME TAX: income tax issues relating                          expenditure is apportioned
     to joint owners TD or TR on this                                when property is owned
61                                               3-May-07 medium     jointly                         MOS    Lepoala     19-Mar-08 Not yet    27-Jun-08
                                                                     To explain what is a
                                                                     financial lease and set out
     INCOME TAX: income tax issues relating
                                                                     how income and
     to financial leases
                                                                     expenditure is recognised
62                                               3-May-07 medium     under a financial lease         MOS    Parveen     19-Mar-08 Not yet    27-Jun-08
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                                                                           Page 5
                       A                         C        D                      F                G       H          I          J         K
                                                                                                      Approving Planned       Draft    Planned
                     Topic                             Priority      Reason for Inclusion      Author
66                                                                                                     Officer  Draft Date   Issued   Final Date

     INCOME TAX: taxation of classes of                           To help taxpayers work out
     persons - individuals, trusts and                            what type of person they are
     companies                                                    for income tax purposes and
67                                            3-May-07 high       what are the consequences MOS        Feleti     19-Mar-08 Not yet    26-Jun-08
                                                                  To explain income tax
                                                                  consequences of
                                                                  international transactions
                                                                  including source of income,
                                                                  foreign source employment
     INCOME TAX: income tax issues relating                       income of resident persons,
     to international transactions                                foreign tax credit, foreign
                                                                  losses and non residents
                                                                  with permanent
                                                                  establishments and foreign
                                                                  source income of non
68                                            3-May-07 high       resident person              MOS     Lepoala    19-Mar-08 Not yet    27-Jun-08


                                                                  To explain the income tax
                                                                  consequences of
                                                                  withholding tax including
                                                                  withholding from certain
     INCOME TAX: income tax issues relating
                                                                  classes of income -
     to withholding tax
                                                                  employment, interest, land,
                                                                  and from types of payments,
                                                                  time of withholding and
                                                                  payment and failure to pay,
                                                                  recovery, documentation,
71                                            3-May-07 high       priority, indemnity and credit MOS   Lepoala    19-Mar-08 Not yet    26-Jun-08




                                                                        Page 6
                          A                           C        D                     F               G        H         I        J          K
                                                                       To explain the
     INCOME TAX: administrative/shortfall
                                                                       administrative penalty
     penalties - including voluntary disclosure,
                                                                       system and provide
     reasonable care, recklessness and
                                                                       guidance on the types of
     reasonably arguable
73                                                 3-May-07 medium     penalties                  MOS    Lepoala    19-Mar-08 No Need    27-Jun-08
                                                                                                         Approving Planned      Draft    Planned
                       Topic                                Priority      Reason for Inclusion    Author
74                                                                                                         Officer Draft Date Issued    Final Date

                                                                       To outline the income tax
                                                                       procedures and
                                                                       administrative requirements
                                                                       of the Act such as
     INCOME TAX: income tax procedures -
                                                                       furnishing returns,
     administration matters
                                                                       assessments, amendment
                                                                       of assessments, collection
                                                                       of tax from non resident
                                                                       aircraft and ship owners and
75                                                 3-May-07 high       charterers                   MOS   Lepoala   19-Mar-08 No Need    27-Jun-08




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