Section 156 of the Income Tax Act 1976 permits exporters to make certain deductions when calculating their assessable income. In order to qualify for an export incentive deduction the court in Preece v Commissioner of Inland Revenue (1981) 4 TRNZ 379 held that the applicant must be the owner of...

This paper deals with trusts that are established in New Zealand or Australia, with locally resident trustees, but having foreign settlors and foreign-source income. For purposes of source country tax, it may be relevant whether there is an agreement to minimise double taxation between New...