Income Tax Act 2007

  • not the latest version
CW 47 TAB and racing clubs
Exempt income: racing organisations


An amount of income derived by any of the following bodies is exempt income:


the New Zealand Racing Board:


New Zealand Thoroughbred Racing:


Harness Racing New Zealand:


the New Zealand Greyhound Racing Association (Incorporated).

Exempt income: racing clubs


An amount of income derived by a racing club, as defined in section 5 of the Racing Act 2003, is exempt income, if none of the club’s funds is used or is available to be used for the private pecuniary profit of a member of the club or an associate of a member.

Defined in this Act: amount, associated person, exempt income, income

Compare: 2004 No 35 s CW 40