In 1985 New Zealand had a tax system that taxed corporate profits twice, first in the hands of the company and secondly in the hands of the shareholder, known as the “classical system”. The paper suggests how dividends from capital sources ought to be treated if this double taxation is to...

The objector in Anzamco Ltd v Commissioner of Inland Revenue (1983) 6 NZTC 61,522 was a company that had bought and developed a farm and sold it at a significantly higher price. The Commissioner taxed the profits under paragraphs 67(4)(a) and (e) of the Income Tax Act 1976. The court allowed the...

This is a case note on Dunnenberger v Commissioner of Inland Revenue High Court New Plymouth, 22 October 1982 (M. 42/79) Bisson J, which was a fairly typical case on the application of the assets accretion method of tax assessment. Where absolute precision cannot be expected, it is enough for...