Taxation (Income Tax Rates) Act 1997

Taxation (Income Tax Rates) Act 1997

Public Act1997 No 9
Date of assent14 May 1997
Commencement14 May 1997

Note

Contents

Title

4 Low income rebate [Repealed]

7 Heading repealed [Repealed]

8 Commencement [Repealed]

13 Heading repealed [Repealed]

14 Section repealed [Repealed]

15 Low income rebate [Repealed]

17 Definitions [Repealed]

21 Low income rebate [Repealed]

26 Definitions [Repealed]


An Act to amend individual rates of income tax and to fix the rates of income tax for the 1997-98 income year

BE IT ENACTED by the Parliament of New Zealand as follows:

1 Short Title
  • This Act may be cited as the Taxation (Income Tax Rates) Act 1997.

Part 1
Amendments to Income Tax Act 1994 Amendment Act 1996

  • Part 1: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

2 Income Tax Act 1994 Amendment Act 1996
  • [Repealed]

    Section 2: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

3 Basic tax deductions
  • [Repealed]

    Section 3: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

4 Low income rebate
  • [Repealed]

    Section 4: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

5 Guaranteed minimum family income credit of tax
  • [Repealed]

    Section 5: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

6 Basic rates of income tax for individuals and certain other taxpayers
  • [Repealed]

    Section 6: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

7 Heading repealed
  • [Repealed]

    Section 7: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

8 Commencement
  • [Repealed]

    Section 8: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

9 Rates for interim instalments for period beginning on or after 1 July 1998
  • [Repealed]

    Section 9: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

10 Director-General to deliver credit of tax
  • [Repealed]

    Section 10: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

11 Resident withholding tax deductions
  • [Repealed]

    Section 11: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

12 Basic tax deductions
  • [Repealed]

    Section 12: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

13 Heading repealed
  • [Repealed]

    Section 13: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

14 Section repealed
  • [Repealed]

    Section 14: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

15 Low income rebate
  • [Repealed]

    Section 15: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

16 Guaranteed minimum family income credit of tax
  • [Repealed]

    Section 16: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

17 Definitions
  • [Repealed]

    Section 17: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

18 Basic rates of income tax for individuals and certain other taxpayers
  • [Repealed]

    Section 18: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

Part 2
Amendments to Income Tax Act 1994

  • Part 2: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

19 Income Tax Act 1994
  • [Repealed]

    Section 19: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

20 Basic rates of income tax for individuals and certain other taxpayers
  • [Repealed]

    Section 20: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

21 Low income rebate
  • [Repealed]

    Section 21: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

22 Guaranteed minimum family income credit of tax
  • [Repealed]

    Section 22: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

23 Credit of tax by instalments
  • [Repealed]

    Section 23: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

24 Transitional rates for interim instalments during period 1 July 1997 to 30 June 1998
  • [Repealed]

    Section 24: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

25 Director-General to deliver credit of tax
  • [Repealed]

    Section 25: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

26 Definitions
  • [Repealed]

    Section 26: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).

Part 3
Amendments to Tax Administration Act 1994

27 Tax Administration Act 1994
28 Annual income tax returns for 1996–97 income year
  • (1) [Repealed]

    (2) Subsection (1) applies with respect to the 1996–97 income year.

    (3) Subsections (1) and (2) are deemed to have come into force on 1 April 1996.

    Section 28(1): repealed, on 1 April 1998, by section 29.

29 Repeal
30 Annual income tax returns for 1997–98 income year
  • (1) Section 33A (as replaced by section 28 of this Act) is replaced by:

    33A Annual income tax returns not required from taxpayers
    • (1) For the purposes of this Act, subject to subsections (2) and (3), a natural person shall not be required to furnish a return of income in relation to a year if, in the year, the person—

      • (a) Is not a New Zealand superannuitant; and

      • (b) Does not derive gross income other than—

        • (i) Income from employment from which a tax deduction is liable to be made in accordance with the PAYE rules:

        • (ii) Interest or dividends from which resident withholding tax is liable to be deducted in accordance with the RWT rules; and

      • (c) Derives annual gross income that does not exceed $34,200; and

      • (d) Does not derive gross income as a shearer or as a shearing shed hand; and

      • (e) Is not an absentee; and

      • (f) Is not issued with a family certificate of entitlement for any part of the year; and

      • (g) Does not have a spouse who is issued with a family certificate of entitlement for any part of the year; and

      • (h) Is not required to pay any financial support under the Child Support Act 1991; and

      • (i) Does not have any IRD loan balance (as defined in section 2 of the Student Loan Scheme Act 1992).

      (2) Notwithstanding anything in subsection (1), a person who is a New Zealand superannuitant shall not be required to furnish a return of income in relation to a year if, in the year, the person—

      • (a) Satisfies paragraphs (b) to (i) of subsection (1); and

      • (b) Receives payments of which the following amounts do not exceed $7,722 in aggregate—

        • (i) Income from employment other than New Zealand superannuation:

        • (ii) Interest and dividends:

        • (iii) 50% of any pension from a superannuation fund:

        • (iv) 50% of any annuity to which section CB 9(f) applies.

      (3) Notwithstanding anything in subsections (1) and (2), a person shall be required to furnish a return of income in relation to a year if, in the year,—

      • (a) The person receives income from employment from which a tax deduction is made and the amount of the tax deduction is determined wholly or partly by a special tax code certificate issued under section NC 14 of the Income Tax Act 1994:

      • (b) The Director-General of Social Welfare pays to the person or to the person's spouse a family credit under section KD 6 of the Income Tax Act 1994 for which the amount of family credit abatement (as given by section KD 2(4) of the Income Tax Act 1994) is greater than nil.

      (4) For the purposes of subsections (1) and (2), resident withholding tax is deemed to be deducted from a dividend if application of the formula in section NF 2(1)(b) of the Income Tax Act 1994 results in the payer of the dividend being required to deduct a nil amount..

    (2) Subsection (1) applies with respect to the 1997–98 and subsequent income years.

    (3) Subsections (1) and (2) are deemed to have come into force on 1 April 1997.

    (4) Part 2 of the Taxation (Superannuitant Surcharge Reduction) Act 1996 is repealed.

    (5) Subsection (4) is deemed to have come into force on 2 September 1996.

31 Annual income tax returns for 1998-99 and subsequent income years
  • (1) In section 33A (as substituted by section 30(1)), $34,200 is replaced by $38,000.

    (2) Subsection (1) applies with respect to the 1998–99 and subsequent income years.

    (3) This section comes into force on 1 April 1998.

Part 4
Amendments to Tax Administration Amendment Act 1996

32 Tax Administration Amendment Act 1996
  • This Part amends the Tax Administration Amendment Act 1996.

33 Commencement
  • This Part is deemed to come into force on 1 April 1996.

34 Sections repealed
  • Sections 5 and 6 are repealed.

35 Annual income tax returns for 1997-98 income year
  • Sections 7(1), (3) and (4) are repealed.

Part 5
Annual rates of income tax for 1997–98

  • Part 5: repealed, on 26 November 1998, pursuant to section 2(2) of the Taxation (Annual Rates of Income Tax 1998–99) Act 1998 (1998 No 109).

36 Rates of income tax for 1997–98 income year
  • [Repealed]

    Section 36: repealed, on 26 November 1998, by section 2(2) of the Taxation (Annual Rates of Income Tax 1998–99) Act 1998 (1998 No 109).


Schedule
New Part B of Schedule 1 to Income Tax Act 1994

s 20(1)

  • Schedule: repealed, on 1 April 2005, by section YA 2 of the Income Tax Act 2004 (2004 No 35).


This Act is administered by the Inland Revenue Department