22 Keeping of business and other records
  • (1) Without limiting the generality of subsection (7), the records required to be kept and retained under subsection (2) in respect of any business carried on during any income year by any person, shall contain—

    • (aa) the financial statements required to be prepared by section 21B; and

    • (a) a record of the assets and liabilities of the person (in relation to that business); and

    • (b) a record of all entries from day to day of all sums of money received and expended by the person (in relation to that business) and the matters in respect of which the receipt and expenditure takes place; and

    • (c) where that business involves dealing in goods—

      • (i) a record of all goods purchased, and of all goods sold in the carrying on of that business (except those sold in the course of cash retail trading customarily conducted in a business of the kind of which that business is one) showing the goods, and the sellers and buyers or, as the case may be, the agents of the sellers and buyers in sufficient detail to enable the goods, and the sellers and buyers, and those agents, to be readily identified by the Commissioner; and all invoices relating to the goods; and

      • (ii) statements (including quantities and values) of trading stock held by the person at the end of each such tax year, and all records of stocktakings from which any such statement of trading stock has been, or is to be, prepared; and

      • (iii) a taxpayer, other than a low-turnover trader, must retain all accounting records relating to the calculation of the value of closing stock (as defined in section YA 1 of the Income Tax Act 2007); and

      • (iv) a low-turnover trader (as defined in section YA 1 of the Income Tax Act 2007) must retain records of the valuation methods and their application in calculating the value of closing stock, except if the methods and their application are not materially different from the previous income year; and

      • (v) the taxpayer must comply with section EB 22(4) of the Income Tax Act 2007; and

    • (d) where that business involves the provision of services, records of the services provided and all invoices relating to them; and

    • (e) the charts and codes of accounts, the accounting instruction manuals, and the system and programme documentation which describes the accounting system used in each income year in the carrying on of that business.

    (2) Subject to subsections (2BA), (2B), (3), (4), and (6), every person who—

    • (a) carries on any business in New Zealand:

    • (b) carries on any other activity (not being the carrying on of employment as an employee) in New Zealand for the purpose of deriving assessable income:

    • (c) is a person to whom the ESCT rules apply and who makes an employer's superannuation cash contribution to a superannuation fund:

    • (cb) is a person to whom the RSCT rules apply and who makes a retirement scheme contribution to a retirement savings scheme:

    • (d) makes, holds, or disposes of, for the purpose of deriving assessable income, any investment:

    • (e) is an employer to whom the FBT rules apply or is a person who provides any fringe benefit to any person who, in relation to any employer to whom the FBT rules apply, is an employee:

    • (eb) has a tax credit under section LH 2 of the Income Tax Act 2007:

    • (ec) is a listed research provider under section LH 15 of that Act:

    • (ed) is an employer to whom section RD 13B of that Act applies in relation to the treatment of a tax credit for a payroll donation:

    • (f) is a company that is an ICA company, a FDPA company, a BETA person, a PCA company, or a PCA person:

    • (fb) is a resident foreign trustee of a foreign trust in any income year,—

    shall keep sufficient records to enable the ascertainment readily by the Commissioner, or any officer authorised by the Commissioner in that behalf, of—

    • (g) the assessable income derived by that person from the carrying on of that business, or the carrying on of that other activity, or the making or holding or disposing of that investment; and

    • (h) the deductions of that person in the carrying on of that business, or the carrying on of that other activity, or the making or holding or disposing of that investment; and

    • (i) every fringe benefit, and the taxable value of every fringe benefit, provided by the person to any person in relation to whom the person is an employer, and every fringe benefit provided by the person to any person who in relation to another person is an employee, those records to include (without limiting the generality of the preceding provisions of this paragraph) details of the recipient of the fringe benefit, the occasion of the providing of it, and the amount (if any) paid or payable by the employee for the receipt or enjoyment of it; and

    • (j) [Repealed]

    • (k) every credit and debit to the person’s memorandum accounts (other than an ASC account), and the amount of a credit attached to a dividend or distribution paid by the person:

    • (kb) [Repealed]

    • (kc) the amount of the person's tax credit under section LH 2 of the Income Tax Act 2007; and

    • (kd) the person's compliance with section LH 15(1) of that Act, if the person is a listed research provider under section LH 15 of that Act, to show—

      • (i) they meet the start-up requirements and the other continuing requirements; and

      • (ii) the amounts derived and incurred by them in performing the research and development activities on behalf of other persons; and

    • (ke) the transfer under section 24Q of an amount of an employee's payroll donation to the recipient of the donation; and

    • (l) every employer's superannuation cash contribution, and the taxable value of that contribution, made by the person to any superannuation fund, those records to include (without limiting the generality of the preceding provisions of this paragraph) details of the recipient of the employer's superannuation cash contribution, the occasion of making it, and any related tax credit under section MK 1(2) of the Income Tax Act 2007; and

    • (lb) every retirement scheme contribution, and the taxable value of that contribution, made by the person to any retirement savings scheme, those records to include, without limiting the generality of the preceding provisions of this paragraph, details of the recipient of the retirement scheme contribution and the occasion of making it; and

    • (lc) the person’s compliance with Part 11B; and

    • (m) the financial position of the foreign trust,—

    and shall retain all such records for a period of at least 7 years after the end of the income year, or (for paragraph (k)) the tax or income year (as applicable), to which they relate.

    (2BA) A taxpayer required by subsection (2) to keep and retain a record must keep and retain the record—

    • (a) in English, or in a language in which the Commissioner authorises the taxpayer under subsection (8) to keep the record or the type of record; and

    • (b) at a place in New Zealand, or at a place outside New Zealand where—

      • (i) the Commissioner authorises the taxpayer under subsection (8) to keep the record or the type of record:

      • (ii) the record is kept by a person authorised by the Commissioner under subsection (8) to keep records for taxpayers that include the taxpayer.

    (2B) A taxpayer referred to in subsection (2)(e) who is required by subsection (2) to retain records is not required to retain those records for a period of more than 7 years after the end of the income year to which the records relate.

    (2C) If there are more than 1 resident foreign trustee of a foreign trust, the resident foreign trustees may appoint one of themselves as an agent for the purposes of keeping the records required by subsection (2).

    (3) A taxpayer to whom section 33A applies and who is required by subsection (2) to retain records of income of that taxpayer from which tax has been withheld or deducted at source need retain those records only until the expiry of 12 months after the end of the income year in which the income was received by the taxpayer.

    (4) This section shall not require the retention of any records—

    • (a) in respect of which the Commissioner has given notice that retention is not required:

    • (b) of a company which has been liquidated:

    • (c) by a partner of a partnership, if the partnership retains the records that the partner would be required to retain but for this paragraph.

    (5) The Commissioner may, by notice given before the expiry of the 7-year retention period specified in subsection (2) or (2B), require a taxpayer to retain all or any of the records specified in that subsection for a further period not exceeding 3 years following the expiry of the 7-year period where—

    • (a) the affairs of the taxpayer are or have been under audit or investigation by the Commissioner; or

    • (b) the Commissioner intends to conduct such an audit or investigation before the expiry of the retention period as so extended, or is actively considering any such audit or investigation.

    (6) The Commissioner may, by notice published in the Gazette, dispense any class of taxpayers from the need to retain the records, or any class of records, specified in subsection (2) or (2B), for more than 12 months following the end of the income year or tax year to which they relate where—

    • (a) the taxpayers are not provisional taxpayers; and

    • (b) the records relate to payments from which tax has been withheld or deducted at source.

    (7) In this section, records includes—

    • (a) books of account (whether contained in a manual, mechanical, or electronic format) recording receipts or payments or income or expenditure:

    • (b) vouchers, bank statements, invoices, receipts, and such other documents as are necessary to verify the entries in the books of account referred to in paragraph (a):

    • (c) accounts (whether contained in a manual, mechanical, or electronic format) to be maintained under the imputation rules, the FDP rules, or section OA 3 for accounts under subparts OE and OJ, of the Income Tax Act 2007, and any statement to be retained under section 31 or 71 of this Act:

    • (d) in the case of a foreign trust, other than for the period for which section 59B(3) applies,—

      • (i) documents that evidence the creation and constitution of the foreign trust; and

      • (ii) particulars of settlements made on, and distributions made by, the foreign trust, including the date of the settlement or distribution, the name and address (if known) of the settlor of the settlement, the name and address (if known) of the recipient of the distribution; and

      • (iii) a record of—

        • (A) the assets and liabilities of the foreign trust; and

        • (B) all entries from day to day of all sums of money received and expended by the trustee in relation to the foreign trust and the matters in respect of which the receipt and expenditure takes place; and

        • (C) if the trust carries on a business, the charts and codes of accounts, the accounting instruction manuals, and the system and programme documentation which describes the accounting system used in each income year in the administration of the trust:

    • (e) for the purposes of subsection (2)(kc), other documents evidencing research and development activities.

    (8) The Commissioner may, upon application in writing by the taxpayer or person, authorise for the purposes of subsection (2BA),—

    • (a) a taxpayer to keep and retain a record or type of record—

      • (i) in a language other than English:

      • (ii) at a place outside New Zealand:

    • (b) a person to hold, for taxpayers, records—

      • (i) at places outside New Zealand; and

      • (ii) in a form approved by the Commissioner; and

      • (iii) accessible by the Commissioner in a way approved by the Commissioner.

    (9) The Commissioner may, for an authorisation under subsection (8) of a person,—

    • (a) impose reasonable conditions on the authorisation:

    • (b) reasonably vary the conditions on the authorisation:

    • (c) withdraw the authorisation, upon request by the person or after giving reasonable notice of the withdrawal:

    • (d) give public notice of an action under subsection (8)(b) or this subsection, in a publication chosen by the Commissioner.

    Compare: 1976 No 65 s 428; 1994 No 76 s 73

    Section 22 heading: amended, on 19 December 2007 (applying for 2008–09 and later income years), by section 189(1) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

    Section 22(1): amended (with effect on 1 April 2005), on 3 April 2006 (applying for income years corresponding to 2005–06 and subsequent tax years), by section 211(1)(a) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(1)(aa): inserted, on 27 February 2014, by section 135 of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).

    Section 22(1)(c)(ii): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(1)(c)(iii): inserted, on 26 November 1998, by section 26 of the Taxation (Tax Credits, Trading Stock, and Other Remedial Matters) Act 1998 (1998 No 107).

    Section 22(1)(c)(iii): amended, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(1)(c)(iii): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(1)(c)(iv): inserted, on 26 November 1998, by section 26 of the Taxation (Tax Credits, Trading Stock, and Other Remedial Matters) Act 1998 (1998 No 107).

    Section 22(1)(c)(iv): amended, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(1)(c)(iv): amended (with effect on 1 April 2005), on 3 April 2006 (applying for income years corresponding to 2005–06 and subsequent tax years), by section 211(1)(b) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(1)(c)(iv): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(1)(c)(v): inserted, on 26 November 1998, by section 26 of the Taxation (Tax Credits, Trading Stock, and Other Remedial Matters) Act 1998 (1998 No 107).

    Section 22(1)(c)(v): amended, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(1)(c)(v): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(1)(e): amended (with effect on 1 April 2005), on 3 April 2006 (applying for income years corresponding to 2005–06 and subsequent tax years), by section 211(1)(c) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(2): amended, on 2 November 2012, by section 171(1)(a) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).

    Section 22(2): amended, on 2 November 2012, by section 171(1)(c) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).

    Section 22(2): amended, on 2 November 2012, by section 171(1)(e) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).

    Section 22(2): amended, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(2): amended (with effect on 1 April 2005), on 1 October 2006, by section 211(2)(a) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(2): amended (with effect on 1 April 2005), on 3 April 2006 (applying for income years corresponding to 2005–06 and subsequent tax years), by section 211(3) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(2) proviso: repealed, on 2 November 2012, by section 171(1)(e) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).

    Section 22(2)(b): replaced, on 26 July 1996 (applying to 1997–98 and subsequent income years), by section 432(1) of the Taxation (Core Provisions) Act 1996 (1996 No 67).

    Section 22(2)(b): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(2)(c): amended (with effect on 1 April 2008), on 2 November 2012, by section 171(1)(b) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).

    Section 22(2)(c): amended, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(2)(cb): inserted (with effect on 1 April 2007), on 19 December 2007 (applying for 2008–09 and later income years), by section 189(2) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

    Section 22(2)(d): replaced, on 26 July 1996 (applying to 1997–98 and subsequent income years), by section 432(1) of the Taxation (Core Provisions) Act 1996 (1996 No 67).

    Section 22(2)(d): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(2)(eb): inserted, on 19 December 2007 (applying for 2008–09 and later income years), by section 189(3) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

    Section 22(2)(ec): inserted, on 19 December 2007 (applying for 2008–09 and later income years), by section 189(3) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

    Section 22(2)(ed): inserted (with effect on 6 January 2010), on 6 October 2009, by section 605(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).

    Section 22(2)(f): replaced, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(2)(f): amended, on 1 July 2012 (applying for records relating to income years beginning on or after that date), by section 140(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).

    Section 22(2)(fb): inserted (with effect on 1 April 2005), on 1 October 2006, by section 211(2)(b) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(2)(g): replaced, on 26 July 1996 (applying to 1997–98 and subsequent income years), by section 432(1) of the Taxation (Core Provisions) Act 1996 (1996 No 67).

    Section 22(2)(g): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(2)(h): replaced, on 26 July 1996 (applying to 1997–98 and subsequent income years), by section 432(1) of the Taxation (Core Provisions) Act 1996 (1996 No 67).

    Section 22(2)(h): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(2)(j): repealed (with effect on 30 June 2009), on 6 October 2009 (applying for all income years beginning on or after 1 July 2009), by section 605(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).

    Section 22(2)(k): replaced, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(2)(k): amended (with effect on 1 July 2011 and applying for records relating to income years beginning on or after that date), on 7 May 2012, by section 140(2) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).

    Section 22(2)(kb): repealed, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(2)(kc): inserted, on 19 December 2007 (applying for 2008–09 and later income years), by section 189(4) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

    Section 22(2)(kd): inserted, on 19 December 2007 (applying for 2008–09 and later income years), by section 189(4) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

    Section 22(2)(ke): inserted (with effect on 6 January 2010), on 6 October 2009, by section 605(3) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).

    Section 22(2)(l): amended (with effect on 1 April 2008), on 2 November 2012, by section 171(1)(d) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).

    Section 22(2)(l): amended, on 1 April 2008, by section 17 of the Taxation (KiwiSaver) Act 2007 (2007 No 110).

    Section 22(2)(l): amended, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(2)(lb): inserted (with effect on 1 April 2007), on 19 December 2007 (applying for 2008–09 and later income years), by section 189(5) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

    Section 22(2)(lc): inserted, on 1 July 2014, by section 152 of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 (2014 No 39).

    Section 22(2)(m): inserted (with effect on 1 April 2005), on 1 October 2006, by section 211(2)(c) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(2BA): inserted, on 2 November 2012, by section 171(2) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).

    Section 22(2B): inserted (with effect on 1 April 2005), on 3 April 2006 (applying for income years corresponding to 2005–06 and subsequent tax years), by section 211(4) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(2C): inserted, on 1 October 2006, by section 211(5) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(2) proviso: repealed, on 2 November 2012, by section 171(e) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).

    Section 22(3): replaced, on 26 July 1996 (applying to 1997–98 and subsequent income years), by section 432(2) of the Taxation (Core Provisions) Act 1996 (1996 No 67).

    Section 22(3): amended, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(3): amended (with effect on 1 April 2005), on 3 April 2006 (applying for income years corresponding to 2005–06 and subsequent tax years), by section 211(6) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(3): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(4)(a): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(4)(b): amended, on 1 April 2008 (for a person who is not a limited partner of a limited partnership registered under the Limited Partnerships Act 2008, applying for income years starting on and after 1 April 2008), by section 28(1) of the Taxation (Limited Partnerships) Act 2008 (2008 No 2).

    Section 22(4)(c): inserted, on 1 April 2008 (for a person who is not a limited partner of a limited partnership registered under the Limited Partnerships Act 2008, applying for income years starting on and after 1 April 2008), by section 28(1) of the Taxation (Limited Partnerships) Act 2008 (2008 No 2).

    Section 22(5): amended (with effect on 1 April 2005), on 1 October 2006, by section 211(7) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(5): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(6): amended (with effect on 1 April 2005), on 1 October 2006, by section 211(8)(a) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(6): amended (with effect on 1 April 2005), on 1 October 2006 (applying for income years corresponding to 2005–06 and subsequent tax years), by section 211(8)(b) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(6): amended, on 1 April 2005 (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).

    Section 22(6)(b): amended, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(7)(c): replaced, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).

    Section 22(7)(c): amended, on 1 July 2012 (applying for records relating to income years beginning on or after that date), by section 140(3) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).

    Section 22(7)(d): inserted, on 1 October 2006, by section 211(9) of the Taxation (Depreciation, Payment Dates Alignment, FBT, and Miscellaneous Provisions) Act 2006 (2006 No 3).

    Section 22(7)(d)(iii)(C): amended, on 19 December 2007 (applying for 2008–09 and later income years), by section 189(6) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

    Section 22(7)(e): inserted, on 19 December 2007 (applying for 2008–09 and later income years), by section 189(6) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

    Section 22(8): inserted, on 2 November 2012, by section 171(4) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).

    Section 22(9): inserted, on 2 November 2012, by section 171(4) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).