This paper describes the relevance to lawyers and law students of the concept of income for tax purposes and tax policy. Three reasons are given for law practitioners to have an understanding of the policies underlying tax legislation: the complexity of the legislation; the fact that it can...

Interest rates are an expression of the time value of money. The article discusses the elements involved in calculating rates in two categories of interest. The first category is interest as the return the lender requires for the use of money advanced in secured or unsecured transactions. The...

The article reviews the efforts by Governments, Courts and professional accounting bodies to mitigate the hugely damaging effects of the high inflation of the 1970s and 1980s on the economy and the wider public. The Consumer Price Index brings out that impact recording that in 1990 a New Zealand...

This address was written by Sir Ivor Richardson as Patron of the Law and Economics Association of New Zealand. It discusses the place for economic analysis in Court decisions. Such analysis will be useful where the application of legal principles is not settled or the interpretation of a statute...

Acknowledging the growing interest in law and economics in New Zealand, the Forward to the first issue of the 1996 Review highlights the role of economics in informing public policy assessments and developments in New Zealand

The deductibility of interest was previously governed by s 112(g) of the Land and Income Tax Act 1954, which provided that no deduction could be made in respect of interest, except so far as it was payable on capital employed in the production of assessable income (cf. section DA1 of the Income...