Income Tax Act 2007

  • not the latest version
CW 49 Bodies promoting scientific or industrial research
Exempt income


An amount of income derived by a society or association established mainly to promote or encourage scientific or industrial research is exempt income if—


the society or association is approved by the Royal Society of New Zealand; and


none of its funds is used or available to be used for the private pecuniary profit of a member, proprietor, shareholder, or associate of any of them.



This section does not apply to a Crown Research Institute.

Defined in this Act: amount, associated person, Crown Research Institute, exempt income, income

Compare: 2004 No 35 s CW 41