1. This is a notice of a public ruling made under section 91D of the Tax Administration Act 1994.
2. Public ruling BR Pub 05/10 entitled “Disposition of real property for inadequate consideration where the transferor purports to ‘simultaneously’ grant a licence and transfer the balance to another person—Gift
duty and income tax implications” was issued on 8 June 2005. The ruling’s subject matter was originally contained in BR Pub 02/10, which applied from 1 April 1999 to 31 March 2005. BR Pub 05/10 applies on
1 April 2005 for an indefinite period. It will appear in Inland Revenue’s Tax Information Bulletin, Vol. 17, No. 5, of June 2005.
3. A copy of the ruling may be obtained by writing to the Manager, Field Liaison & Communication (Adjudication & Rulings), National Office, Inland Revenue, P.O. Box 2198, Wellington.
RANGI KRISHNAN, Manager, Field Liaison
& Communication (Adjudication & Rulings).