Taxation (Urgent Measures) Act 2005

Taxation (Urgent Measures) Act 2005

Public Act2005 No 121
Date of assent21 December 2005
Commencementsee section 2

The Parliament of New Zealand enacts as follows:

1 Title
  • This Act is the Taxation (Urgent Measures) Act 2005.

2 Commencement
  • This Act comes into force on the day on which it receives the Royal assent.

Part 1
Amendments to Income Tax Act 2004

3 Income Tax Act 2004
4 New sections CV 3 and CV 4 added
  • After section CV 2, the following is added:

    CV 3 Australian wine producer rebate
    • An amount of Australian wine producer rebate derived by a New Zealand resident wine producer is income of the wine producer.

      Defined in this Act: amount, Australian wine producer rebate, income, New Zealand resident,

    CV 4 Regulations: Australian wine producer rebate
    • Order in Council

      (1) For the purpose of enabling the Commissioner to administer the entitlement of New Zealand resident wine producers to Australian wine producer rebates in respect of wine produced in New Zealand, the Governor-General may from time to time, by Order in Council, make regulations relating to—

      • (a) the claim by a New Zealand resident wine producer for payment of an Australian wine producer rebate in respect of wine produced in New Zealand that is sold in Australia:

      • (b) the approval or verification of the entitlement of a New Zealand resident wine producer to a payment of an Australian wine producer rebate:

      • (c) any matter necessary to give effect to a provision relating to Australian wine producer rebates in the agreement for the time being in force between the Government of New Zealand and the Government of Australia for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.

      Force and effect

      (2) An Order in Council under subsection (1)—

      • (a) has force and effect despite any provision in this Act or any other Inland Revenue Act:

      • (b) may come into force On or after 1 July 2005:

      • (c) may apply for Australian financial years commencing on or after 1 July 2005.

      Definitions

      (3) In this section,—

      Australian financial year means a year starting on and including 1 July

      wine has the meaning given in section 31-1 of A New Tax System (Wine Equalisation Tax) Act 1999 (Aust), as amended from time to time, and regulations made under that Act.

      Defined in this Act: amount, Australian financial year, Australian wine producer rebate, Inland Revenue Acts, New Zealand resident, wine,

5 Calculation of subpart KD credit
  • (1) In section KD 2(6),—

    • (a) in paragraph (a) of the definition of full-year abatement,—

      • (i) $27,500 is replaced by $35,000 ; and

      • (ii) 30 cents is replaced by 20 cents:

    • (b) in paragraph (b) of the definition of full-year abatement,—

      • (i) $27,500 is replaced by $35,000 ; and

      • (ii) 30 cents is replaced by 20 cents.

    (2) Subsection (1) applies for the 2006–07 and subsequent tax years.

6 Definitions
  • In section OB 1, after the definition of Australian imputation credit account company, the following is inserted:

    Australian wine producer rebate means a producer rebate (under A New Tax System (Wine Equalisation Tax) Act 1999 (Aust), as amended from time to time, and regulations made under that Act) that relates to wine exported from New Zealand on or after 1 July 2005.

7 Schedule 12—Amount that, for purposes of section KD 5(6), is deemed to be equivalent of an annual amount
  • (1) Schedule 12 is replaced by the schedule 12 in the schedule of this Act.

    (2) Subsection (1) applies for the 2006–07 and subsequent tax years.

Part 2
Amendments to Tax Administration Act 1994

8 Tax Administration Act 1994
9 Interpretation
  • In section 3(1), in the definition of tax, after paragraph (a), the following is inserted:

    • (ab) for the purposes of the application of this Act in relation to a regulation made under section CV 4 of the Income Tax Act 2004, includes an Australian wine producer rebate:.

10 New section 4B inserted
  • After section 4A, the following is inserted:

    4B Application of Act in relation to Australian wine producer rebate
    • (1) This section governs the application of this Act in relation to the rights and obligations of a person under a regulation made under section CV 4 of the Income Tax Act 2004, which relates to Australian wine producer rebates.

      (2) This Act applies to the rights and obligations as if—

      • (a) a person's claim for approval in respect of an Australian wine producer rebate were an application made by the person to the Commissioner for registration in respect of the administration of a tax imposed by an Inland Revenue Act:

      • (b) a person's claim for a payment of an Australian wine producer rebate were an application by the person to the Commissioner for a refund of a tax imposed by an Inland Revenue Act:

      • (c) a decision concerning an entitlement of the person to a payment of an Australian wine producer rebate were a decision by the Federal Commissioner of Taxation for Australia concerning an entitlement of the person to a refund of a tax imposed by the Commonwealth of Australia:

      • (d) a payment to the person of an Australian wine producer rebate were a refund by the Federal Commissioner of Taxation for Australia of a tax imposed by the Commonwealth of Australia.

11 New section 85J inserted
  • After section 85I, the following is inserted:

    85J Disclosure of information for administration of Australian wine producer rebate
    • (1) The purpose of this section is to facilitate the exchange of information between the Commissioner and the Australian Taxation Office and the New Zealand Customs Service for the purpose of administering the entitlements of New Zealand resident wine producers to Australian wine producer rebates.

      (2) For the purposes of subsection (1), the Commissioner may at any time provide all information referred to in subsection (3) to a person who is—

      • (a) an officer, employee, or agent of the Australian Taxation Office or the New Zealand Customs Service; and

      • (b) authorised to receive the information by the chief executive officer of the Australian Taxation Office or the New Zealand Customs Service.

      (3) The information that may be provided under subsection (2) is all information relevant to—

      • (a) the claim by a New Zealand resident wine producer for payment of an Australian wine producer rebate in respect of wine produced in New Zealand that is sold in Australia:

      • (b) the approval or verification of the entitlement of a New Zealand resident wine producer to a payment of an Australian wine producer rebate.


Schedule
New schedule 12 of the Income Tax Act 2004

s 7

Schedule 12
Amount that, for purposes of section KD 5(6), is deemed to be equivalent of an annual amount

s KD 5(6)

Column 1Column 2
Amount that, in relation to any application for a certificate of entitlement to a credit of tax, is the annual amountAmount that, for purposes of section KD 5, is treated as being equivalent to the annual amount
 $
Amount does not exceed $35,00035,000
Amount exceeds $35,000 but does not exceed $36,50036,500
Amount exceeds $36,500 but does not exceed $38,00038,000
Amount exceeds $38,000 but does not exceed $39,50039,500
Amount exceeds $39,500 but does not exceed $41,00041,000
Amount exceeds $41,000 but does not exceed $42,50042,500
Amount exceeds $42,500 but does not exceed $44,00044,000
Amount exceeds $44,000 but does not exceed $45,50045,500
Amount exceeds $45,500 but does not exceed $47,00047,000
Amount exceeds $47,000 but does not exceed $48,50048,500
Amount exceeds $48,500 but does not exceed $50,00050,000
Amount exceeds $50,000 but does not exceed $51,50051,500
Amount exceeds $51,500 but does not exceed $53,00053,000
Amount exceeds $53,000 but does not exceed $54,50054,500
Amount exceeds $54,500 but does not exceed $56,00056,000
Amount exceeds $56,000 but does not exceed $57,50057,500
Amount exceeds $57,500 but does not exceed $59,00059,000
Amount exceeds $59,000 but does not exceed $60,50060,500
Amount exceeds $60,500 but does not exceed $62,00062,000
Amount exceeds $62,000 but does not exceed $63,50063,500
Amount exceeds $63,500 but does not exceed $65,00065,000
Amount exceeds $65,000 but does not exceed $66,50066,500
Amount exceeds $66,500 but does not exceed $68,00068,000
Amount exceeds $68,000 but does not exceed $69,50069,500
Amount exceeds $69,500 but does not exceed $71,00071,000
Amount exceeds $71,000 but does not exceed $72,50072,500
Amount exceeds $72,500 but does not exceed $74,00074,000
Amount exceeds $74,000 but does not exceed $75,50075,500
Amount exceeds $75,500 but does not exceed $77,00077,000
Amount exceeds $77,000 but does not exceed $78,50078,500
Amount exceeds $78,500 but does not exceed $80,00080,000
Amount exceeds $80,000 but does not exceed $81,50081,500
Amount exceeds $81,500 but does not exceed $83,00083,000
Amount exceeds $83,000 but does not exceed $84,50084,500
Amount exceeds $84,500 but does not exceed $86,00086,000
Amount exceeds $86,000 but does not exceed $87,50087,500
Amount exceeds $87,500 but does not exceed $89,00089,000
Amount exceeds $89,000 but does not exceed $90,50090,500
Amount exceeds $90,500 but does not exceed $92,00092,000
Amount exceeds $92,000 but does not exceed $93,50093,500
Amount exceeds $93,500 but does not exceed $95,00095,000
Amount exceeds $95,000 but does not exceed $96,50096,500
Amount exceeds $96,500 but does not exceed $98,00098,000
Amount exceeds $98,000 but does not exceed $99,50099,500
Amount exceeds $99,500 but does not exceed $101,000101,000
Amount exceeds $101,000 but does not exceed $102,500102,500
Amount exceeds $102,500 but does not exceed $104,000104,000
Amount exceeds $104,000 but does not exceed $105,500105,500
Amount exceeds $105,500 but does not exceed $107,000107,000
Amount exceeds $107,000 but does not exceed $108,500108,500
Amount exceeds $108,500 but does not exceed $110,000110,000
Amount exceeds $110,000 but does not exceed $111,500111,500
Amount exceeds $111,500 but does not exceed $113,000113,000
Amount exceeds $113,000 but does not exceed $114,500114,500
Amount exceeds $114,500 but does not exceed $116,000116,000
Amount exceeds $116,000 but does not exceed $117,500117,500
Amount exceeds $117,500 but does not exceed $119,000119,000
Amount exceeds $119,000 but does not exceed $120,500120,500
Amount exceeds $120,500the number of complete dollars comprised in the annual amount

Legislative history

13 December 2005Divided from Taxation (Annual Rates and Urgent Measures) Bill (Bill 1-2), third reading