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Businesses in New Zealand pay income tax on their net profit earned in any specific tax year. For most businesses the tax year runs from 1 April to 31 March but businesses can apply to the Inland Revenue for this to be changed. A provisional taxpayer is a person or a company that had a residual income tax of more than $5000 in the previous tax ...
The suit involved a dispute about whether a "taxpayer company was entitled to deduct a tax loss incurred by another member of the same group of companies from its assessable income." The High Court of New Zealand decided in favor of Challenge Corp Ltd and its decision was "upheld by a majority of the Court of Appeal."
The judiciary of New Zealand is responsible for the system of courts that interprets and applies the laws of New Zealand.It has four primary functions: to provide a mechanism for dispute resolution; to deliver authoritative rulings on the meaning and application of legislation; to develop case law; and to uphold the rule of law, personal liberty and human rights. [1]
In 1995, a Rewrite Advisory Panel was established to consider and advise on issues arising during the rewriting of the income tax legislation, as part of New Zealand tax reform arising from the Working Party on the Reorganisation of the Income Tax Act 1976. The panel was disestablished in 2014 at the completion of the tax reform. [4]
The District Court of New Zealand (Māori: Te Kōti ā Rohe) (formerly the district courts before 2016) is the primary court of first instance of New Zealand. There are 59 District Court locations throughout New Zealand (as of 2017). [2] The court hears civil claims of up to $350,000 and most criminal cases. [3]
The Laws of New Zealand is an encyclopedia that is intended to provide a reliable statement of the whole law of New Zealand – statutory, regulatory, and judicial. Publication commenced in 1992. It is published by LexisNexis and is the only current encyclopaedia of New Zealand law. It is the New Zealand equivalent of Halsbury's Laws of England.
In 1993 he was a member of the Working Party on the Reorganisation of the Income Tax Act 1976 which was instrumental in launching a fundamental reform the way New Zealand tax legislation was written. From 1996 to 2003, Keith was a Judge of the Court of Appeal of New Zealand and was a member of the Judicial Committee of the Privy Council in London.
The justice sector in New Zealand is funded through the national budget, with allocations determined annually. [31] The sector's funding supports several key institutions and functions, including the New Zealand Police, the Ministry of Justice, the Department of Corrections, the judiciary, legal aid, and various support services for victims of ...