YD 2 Residence of companies
Four bases for residence

(1)

A company is a New Zealand resident for the purposes of this Act if—

(a)

it is incorporated in New Zealand:

(b)

its head office is in New Zealand:

(c)

its centre of management is in New Zealand:

(d)

its directors, in their capacity as directors, exercise control of the company in New Zealand, even if the directors’ decision-making also occurs outside New Zealand.

Treatment of trustees

(1B)

In this section, a company includes a company that is acting in the capacity of trustee.

International tax rules

(2)

Despite subsection (1), for the purpose of the international tax rules, a company is treated as remaining resident in New Zealand if it becomes a foreign company but is resident in New Zealand again within 183 days afterwards.

Cook Islands National Superannuation Fund trustee

(3)

Despite subsection (1), the trustee of the Cook Islands National Superannuation Fund, established by the Cook Islands National Superannuation Fund Deed under the Cook Islands National Superannuation Scheme Act 2000 (Cook Islands), is not a New Zealand resident.

Defined in this Act: company, director, foreign company, New Zealand resident, trustee

Compare: 2004 No 35 ss GC 9(6), OE 2(1), (1B)

Section YD 2(1B) heading: inserted, on 29 March 2018, by section 247(1) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).

Section YD 2(1B): inserted, on 29 March 2018, by section 247(1) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).

Section YD 2 list of defined terms trustee: inserted, on 29 March 2018, by section 247(2) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).