1 Title
2 Commencement
Part 1Amendments to Income Tax Act 2007
3 Income Tax Act 2007
4 Income tax liability of person with schedular income
5 Withholding liabilities
6 Other obligations
7 Disposal: land used for landfill, if notice of election
8 Section CB 26 replaced
CB 26 Disposal of certain shares by portfolio investment entities
9 Section CB 27B repealed
10 Heading and section CB 36 replaced
Emissions units under Climate Change Response Act 2002
CB 36 Disposal of emissions units
11 New section CC 8B inserted
CC 8B Certain commercial bills: non-resident holders
12 What is a transfer of value?
13 When is a transfer caused by a shareholding relationship?
14 Section CD 21 repealed
15 Returns of capital: off-market share cancellations
16 Treasury stock acquisitions
17 Property made available intra-group
18 Employee benefits
19 Foreign investment fund income
20 Available subscribed capital (ASC) amount
21 Available capital distribution amount
22 Heading and sections CD 45 to CD 52 repealed
23 Prevention of double taxation of share cancellation dividends
24 Amounts derived in connection with employment
25 Meaning of expenditure on account of an employee
26 Benefits, pensions, compensation, and government grants
27 New subpart CO inserted
Subpart CO—Income from voluntary activities
CO 1 Income from voluntary activities
28 Section CP 1 replaced
CP 1 Attributed income of investors in multi-rate PIEs
29 When attributed CFC income arises
30 When FIF income arises
31 Section CQ 7 repealed
32 Heading to subpart CR replaced
33 Sections CR 1 and CR 2 replaced
CR 1 Policyholder base income of life insurer
CR 2 Shareholder base income of life insurer
34 New section CR 4 added
CR 4 Income for general insurance outstanding claims reserve
35 Withdrawals
36 Exclusions of withdrawals of various kinds
37 Exclusion of withdrawal on partial retirement
38 Exclusion of withdrawal when member ends employment
39 Section CV 10 repealed
40 Section CW 3B repealed
41 Dividend derived by company from overseas
CW 9 Dividend derived from foreign company
42 Proceeds of share disposal by qualifying foreign equity investor
43 Dividends paid by qualifying companies
44 Expenditure on account, and reimbursement, of employees
45 New sections CW 17B and CW 17C inserted
CW 17B Relocation payments
CW 17C Payments for overtime meals and certain other allowances
46 Section CW 37 repealed
47 Local and regional promotion bodies
48 Charities: business income
49 New section CW 59C inserted
CW 59C Life reinsurance outside New Zealand
50 New section CW 62B inserted
CW 62B Voluntary activities
51 Meaning of fringe benefit
52 Contributions to superannuation schemes
53 Benefits provided instead of allowances
54 Section CX 28 replaced
CX 28 Accommodation
55 Section CX 39 repealed
56 Government grants to businesses
57 Amounts remitted as condition of new start grant
58 Section CX 48B repealed
59 New heading and section CX 48C inserted
Government funding of film and television
CX 48C Government funding additional to government screen production payments
60 New heading and section CX 48D inserted
Research and development
CX 48D Tax credits for expenditure on research and development
61 New heading and section CX 51B inserted
CX 51B Disposal of pre-1990 forest land emissions units
62 Proceeds from certain disposals by portfolio investment entities or New Zealand Superannuation Fund
63 Section CX 55 replaced
CX 55 Proceeds from disposal of investment shares
64 Portfolio investor allocated income and distributions of income by portfolio investment entities
65 Section CX 56 replaced
CX 56 Attributed income of certain investors in multi-rate PIEs
CX 56B Distributions to investors in multi-rate PIEs
CX 56C Distributions to investors by listed PIEs
66 Section CX 57 replaced
CX 57 Credits for investment fees
67 New section CZ 9B inserted
CZ 9B Available capital distribution amount: 1988 to 2010
68 Determining tax liabilities
69 Interest: not capital expenditure
70 Interest: most companies need no nexus with income
71 Interest: money borrowed to acquire shares in group companies
72 New section DB 10B inserted
DB 10B Interest or expenditure connected to stapled debt security
73 Cost of revenue account property
74 Charitable or other public benefit gifts by company
75 Property misappropriated by employees or service providers
76 Portfolio investment entities: zero-rated portfolio investors and allocated losses
77 Section DB 53 replaced
DB 53 Attributed PIE losses of certain investors
78 Section DB 54 replaced
DB 54 Treatment of credits for investment fees
79 Expenditure incurred in deriving exempt dividend
80 Heading and section DB 60 replaced
Emissions units and liabilities under Climate Change Response Act 2002
DB 60 Acquisition of emissions units
81 New section DB 60B inserted
DB 60B Liabilities for emissions
82 Contributions to employees' superannuation schemes
83 Criteria for approval of share purchase schemes: before period of restriction ends
84 Employment-related activities
85 Interpretation: reimbursement and apportionment
86 Heading to subpart DF
87 Government grants to businesses
88 Payments for social rehabilitation
89 New section DF 5 added
DF 5 Government funding additional to government screen production payments
90 When attributed CFC loss arises
91 When FIF loss arises
92 Section DO 11B repealed
93 Forestry business on land bought from the Crown, Maori owners, or holding company: no deduction
94 Sections DR 1 to DR 3 replaced
DR 1 Policyholder base allowable deduction of life insurer
DR 2 Shareholder base allowable deduction of life insurer
DR 3 Life reinsurance outside New Zealand
DR 4 Life insurers' claims reserves
95 Film production expenditure
96 Meaning of film reimbursement scheme
97 New section DT 1A inserted
DT 1A Ring-fenced allocations
98 Arrangement for petroleum exploration expenditure and sale of property
99 Petroleum development expenditure
100 Disposal of petroleum mining asset to associate
101 Amount written off by holding company
102 Transfer of expenditure to master fund
103 Carry forward of expenditure
104 New section DV 4B inserted and replaced
DV 4B Carry forward of expenditure by member funds investing in portfolio investment entities
105 Investment funds: transfer of expenditure to master funds
106 Formula for calculating maximum deduction
107 Carry forward of expenditure
108 Maori authorities: donations
109 New section DW 4 added
DW 4 Deduction for general insurance outstanding claims reserve
110 Section DX 2 repealed
111 Prepayments
112 Meaning of trading stock
113 Low-turnover valuation
114 New heading and section EC 26B inserted
Partnerships: cost price and national standard cost scheme
EC 26B Entering partners' cost base
115 Valuation of excepted financial arrangements
116 New section ED 1B inserted
ED 1B Valuation of emissions units issued for zero price
117 Pool method: calculating amount of depreciation
118 Economic rate for plant, equipment, or building, with high residual value
119 Annual rate for item acquired in person's 1995–96 or later income year
120 Meaning of adjusted tax value
121 Employer's superannuation contribution tax
122 Section EG 3 repealed
123 Expenditure incurred in acquiring film rights in feature films
124 Expenditure incurred in acquiring film rights in films other than feature films
125 Film production expenditure for New Zealand films having no large budget screen production grant
126 Film production expenditure for other films having no large budget screen production grant
127 Section EJ 12 replaced
EJ 12 Petroleum development expenditure: default allocation rule
EJ 12B Petroleum development expenditure: reserve depletion method
128 Relinquishing petroleum mining permit
129 New sections EJ 13B and EJ 13C inserted
EJ 13B Dry well drilled
EJ 13C Well not producing
130 Disposal of petroleum mining asset
131 Sections EJ 19 and EJ 20 replaced
EJ 20 Meaning of petroleum mining development
132 What is an excepted financial arrangement?
133 What spreading methods do
134 Applying IFRSs to financial arrangements
135 IFRS financial reporting method
136 Determination alternatives
137 Expected value method
138 Modified fair value method
139 Mandatory use of some determinations
140 Mandatory use of yield to maturity method for some arrangements
141 New section EW 21 inserted
EW 21 Financial reporting method
142 Default method
143 Failure to use method for financial reporting purposes
144 Consistency of use of IFRS method
145 Change of spreading method
146 When calculation of base price adjustment required
147 Base price adjustment formula
148 Consideration when debtor released as condition of new start grant
149 Meaning of controlled foreign company
150 Direct control interests
151 Direct income interests
152 Associates and 10% threshold
153 New section EX 18A inserted
EX 18A Scheme for finding person's attributed CFC income or loss
154 Formula for calculating attributed CFC income or loss
155 Taxable distribution from non-complying trust
156 New heading and sections EX 20B to EX 20E inserted
Attributable CFC amount and net attributable CFC income or loss
EX 20B Attributable CFC amount
EX 20C Net attributable CFC income or loss
EX 20D Adjustment of fraction for excessively debt funded CFC
EX 20E Relative debt-asset ratio for CFC
157 Attributable CFC amount
158 Net attributable CFC income or loss
159 Adjustment of fraction for excessively debt funded CFC
160 Heading repealed
161 Branch equivalent income or loss: calculation rules
162 New heading and sections EX 21B to EX 21E inserted
Non-attributing active CFCs
EX 21B Non-attributing active CFCs
Tests for non-attributing active CFCs
EX 21C Applicable accounting standards for section EX 21E
EX 21D Non-attributing active CFC: default test
EX 21E Non-attributing active CFC: test based on accounting standard
163 Heading and section EX 22 replaced
Non-attributing Australian CFCs
EX 22 Non-attributing Australian CFCs
164 Section EX 23 repealed
165 Change of CFC's balance date
166 Attributing interests in FIFs
167 Direct income interests in FIFs
168 Exemption for ASX-listed Australian companies
169 Exemption for Australian unit trusts with adequate turnover or distributions
170 CFC rules exemption
171 Grey list company owning New Zealand venture capital company: 10-year exemption
172 Exemption for employee share purchase scheme of grey list company
173 Limits on choice of calculation methods
174 Section EX 47 replaced
EX 47 Method required for certain non-ordinary shares
175 Branch equivalent method
176 Comparative value method
177 Fair dividend rate method: usual method
178 Fair dividend rate method for unit-valuing funds and others by choice
179 Cost method
180 Additional FIF income or loss if CFC owns FIF
181 Codes: comparative value method, deemed rate of return method, fair dividend rate method, and cost method
182 Limits on changes of method
183 Changes in application of FIF exemptions
184 New section EX 66B inserted
EX 66B Entities ceasing to be FIFs
185 Sections EY 1 to EY 5 replaced
EY 1 What this subpart does
EY 2 Policyholder base
EY 3 Shareholder base
EY 4 Apportionment of income of particular source or nature, and of tax credits
EY 5 Part-year tax calculations
186 Section EY 6 replaced
EY 6 Actuarial advice and guidance
187 Meaning of claim
188 Superannuation schemes providing life insurance
189 Meaning of life reinsurance
190 Sections EY 15 to EY 47 replaced
Policyholder base
Non-participation policies
EY 15 Policyholder base income: non-participation policies
EY 16 Policyholder base allowable deductions: non-participation policies
Profit participation policies
EY 17 Policyholder base income: profit participation policies
EY 18 Policyholder base allowable deductions: profit participation policies
Shareholder base
EY 19 Shareholder base income: non-participation policies
EY 20 Shareholder base allowable deductions: non-participation policies
EY 21 Shareholder base income: profit participation policies
EY 22 Shareholder base allowable deductions: profit participation policies
Non-participation policies: reserves
EY 23 Reserving amounts for life insurers: non-participation policies
EY 24 Outstanding claims reserving amount: non-participation policies not annuities
EY 25 Premium smoothing reserving amount: non-participation policies not annuities
EY 26 Unearned premium reserving amount: non-participation policies not annuities
EY 27 Capital guarantee reserving amount: non-participation policies not annuities
Shareholder base other profit: profit participation policies
EY 28 Shareholder base other profit: profit participation policies that are existing business
EY 29 Shareholder base other profit: profit participation policies that are new business
Transitional adjustments and annuities
EY 30 Transitional adjustments: life risk
EY 31 Annuities
191 Policyholder income formula: FDR adjustment
192 Policyholder income formula: PILF adjustment
193 Non-resident life insurers with life insurance policies in New Zealand
194 Deductions for disposal of property: 1982–83 and 1989–90 income years
195 Section EZ 31 repealed
196 Section EZ 32B repealed
197 Income and expenditure where financial arrangement redeemed or disposed of
198 New section EZ 52B added
EZ 52B Consistency of use of IFRS method: Determination G3 change allowed
199 New headings and sections EZ 53 to EZ 62 added
Life insurance transitional adjustment: expected death strain
Expected death strain formulas
EZ 53 How expected death strain is calculated
EZ 54 Expected death strain formulas
EZ 55 Expected death strain formulas: option when more than 1 life insured
EZ 56 Expected death strain formula (life): when annuity payable on death
EZ 57 Expected death strain formulas: when annuity payable on survival to date or age specified in policy
EZ 58 Expected death strain formula (life): when partial reinsurance exists
Actuarial reserves
EZ 59 Meaning of actuarial reserves
EZ 60 Actuarial reserves: calculation
Entry to new life insurance regime: transitional and miscellaneous provisions
EZ 61 Allowance for cancelled amount: spreading
EZ 62 Reinsurance transition: life financial reinsurance may be life reinsurance
200 New section EZ 63 inserted
EZ 63 Disposal and acquisition upon entry
201 Recharacterisation of certain debentures
202 New section FA 2B inserted
FA 2B Stapled debt securities
203 Financial arrangements rules
204 Transfer at market value
205 Property transferred to charities or to close relatives and others
206 What this subpart does
207 When this subpart applies
208 Section FE 3 replaced
FE 3 Interest apportionment for individuals
209 Some definitions
210 Thresholds for application of interest apportionment rules
211 Apportionment of interest by excess debt entity
212 Calculation of debt percentages
213 Financial arrangements entered into with persons outside group
214 Consolidation of debts and assets
215 Total group debt
216 Total group assets
217 Measurement of debts and assets of worldwide group
218 Banking group's New Zealand net equity
219 New Zealand group for excess debt entity that is a company
220 Identifying New Zealand parent
221 Section FE 28 replaced
FE 28 Identifying members of New Zealand group
222 Section FE 29 replaced
FE 29 Combining New Zealand groups owned by natural persons and trustees
223 Ownership interests in companies outside New Zealand group
224 Worldwide group for corporate excess debt entity
225 New sections FE 31B and FE 31C inserted
FE 31B Worldwide group for excess debt outbound companies
FE 31C CFCs in worldwide group for natural persons or trustees described in section FE 2(1)(g)
226 Section FE 32 replaced
FE 32 Joint venture parties
227 Identifying members of New Zealand banking group
228 Subpart FF repealed
229 Consolidation rules
230 Some general rules for treatment of consolidated groups
231 Heading and sections FM 24 to FM 26 repealed
232 Eligibility rules
233 Imputation rules
234 Trans-Tasman imputation groups and resident imputation subgroups
235 Amortising property
236 Treatment of interest payable under debentures issued before certain date
237 New sections GB 15B and GB 15C inserted
GB 15B Supplies affecting default test for non-attributing active CFC
GB 15C Arrangements related to accounting test for non-attributing active CFC
238 Attribution rule for income from personal services
239 Interpretation of terms used in section GB 27
240 Section GB 39 repealed
241 Arrangements involving money not at risk
242 Defined terms for sections GB 45 and GB 46
243 Disposals of trading stock at below market value
244 Section GC 4B repealed
245 Leases for inadequate rent
246 Insufficient amount receivable by person
247 Compensating arrangement: person receiving more than arm's length amount
248 Requests for matching treatment
249 Section GC 12 replaced
GC 12 Effect on person's withholding obligations
250 New section GZ 2 inserted
GZ 2 Arrangements involving cancellation of conduit tax relief credits
251 Shareholding requirements
252 New section HA 8B inserted
HA 8B No CFC income interests or FIF direct income interests of 10% or more
253 Limit on foreign non-dividend income
254 When requirements no longer met
255 Dividends paid by qualifying companies
256 Fully imputed distributions
257 Section HA 16 replaced
HA 16 Dividends paid by qualifying companies to trustee shareholders
258 Credit accounts and dividend statements
259 Calculating qualifying company election tax
260 Corpus of trust
261 Trustee income
262 Taxable distributions from non-complying and foreign trusts
263 Distributions from community trusts
264 Who is a settlor?
265 Liability of trustee as agent
266 Beneficiary income of minors
267 Trusts and minor beneficiary rule
268 Companies issuing debentures
269 General provisions relating to disposals
270 Section HG 4 replaced
HG 4 Disposal upon final dissolution
271 Disposal of partner's interests
272 Disposal of trading stock
273 Disposal of depreciable property
274 Disposal of financial arrangements and certain excepted financial arrangements
275 Disposal of short-term agreements for the sale and purchase of property or services
276 Section HG 10 replaced
HG 10 Disposal of livestock
277 Limitation on deductions by partners in limited partnerships
278 Scheme of subpart
279 Eligibility requirements for entities
280 Effect of failure to meet eligibility requirements for entities
281 Meaning of investor and portfolio investor class
282 Investor membership requirement
283 Investor return adjustment requirement: portfolio tax rate entity
284 Investor interest size requirement
285 Further eligibility requirements relating to investments
286 Unlisted company choosing to become portfolio listed company
287 Becoming portfolio investment entity
288 Treatment of income from interest when entitlement conditional or lacking
289 Portfolio class taxable income and portfolio class taxable loss for portfolio allocation period
290 Credits received by portfolio tax rate entity or portfolio investor proxy
291 Portfolio entity formation loss
292 Subpart HL replaced by subpart HM
Subpart HM—Portfolio investment entities
Introductory provisions
HM 1 Outline of subpart and relationship with other Parts
HM 2 What is a portfolio investment entity?
HM 3 Foreign PIE equivalents
HM 4 Who is an investor?
HM 5 What is an investor class?
HM 6 Intended effects for multi-rate PIEs and investors
Entry rules
HM 7 Requirements
Requirements
HM 8 Residence in New Zealand
HM 9 Collective schemes
HM 10 Exclusion: life insurance business
HM 11 Investment types
HM 12 Income sources
HM 13 Maximum shareholdings in investments
HM 14 Minimum number of investors
HM 15 Maximum investors’ interests
HM 16 Associates combined
HM 17 Same rights to all investment proceeds
HM 18 Requirements for listed PIEs: unlisted companies
HM 19 Requirements for listed PIEs: fully crediting distributions
HM 20 Re-entering as PIE: 5-year rule
Exceptions
HM 21 Exceptions for certain investors
HM 22 Exceptions for certain funds
HM 23 Exceptions for foreign PIE equivalents
Exit rules
HM 24 Ending of New Zealand residence
HM 25 When entity no longer meets investment or investor requirements
HM 26 Starting life insurance business
HM 27 When multi-rate PIE no longer meets investor interest adjustment requirements
HM 28 When listed PIE no longer meets crediting requirement
HM 29 Choosing to cancel status
HM 30 When foreign PIE equivalent no longer meets requirements
Rules for multi-rate PIEs
HM 31 Rules for multi-rate PIEs
HM 32 Rules for and treatment of investors in multi-rate PIEs
HM 33 Proxies for PIE investors
Attributing income to investors
HM 34 Attribution periods
HM 35 Determining net amounts and taxable amounts
HM 36 Calculating amounts attributed to investors
HM 37 When income cannot be attributed
HM 38 When superannuation fund investor has conditional entitlement
HM 39 New investors in existing investor classes
HM 40 Deductions for attributed PIE losses for zero-rated and exiting investors
Calculating and paying tax liability
HM 41 Options for calculation and payment of tax
HM 42 Exit calculation option
HM 43 Quarterly calculation option
HM 44 Provisional tax calculation option
HM 45 Voluntary payments
HM 46 Calculation process
HM 47 Calculation of tax liability or tax credit of multi-rate PIEs
Adjusting investors’ interests
HM 48 Adjustments to investors’ interests or to distributions
Using tax credits
HM 49 Tax credits: when sections HM 50 to HM 55 apply
HM 50 Attributing credits to investors
HM 51 Use of foreign tax credits by PIEs
HM 52 Use of foreign tax credits by zero-rated and certain exiting investors
HM 53 Use of tax credits other than foreign tax credits by PIEs
HM 54 Use of tax credits other than foreign tax credits by investors
HM 55 Tax credits for losses
Prescribed and notified rates for investors in multi-rate PIEs
HM 56 Prescribed investor rates for investors generally
HM 57 Prescribed investor rates for certain natural person investors: 19.5%
HM 58 Optional investor rates for trustees: 30%, 19.5%
HM 59 Prescribed investor rates for certain investors: 0%
HM 60 Notified rates
HM 61 Certain exiting investors zero-rated
Exit levels and periods
HM 62 Exit levels for investors
HM 63 Exit periods
Treatment of losses by PIEs
Losses of certain multi-rate PIEs
HM 64 Use of investor classes’ losses
HM 65 Use of land losses of investor classes
Formation losses
HM 66 Formation losses carried forward to tax year
HM 67 Formation losses carried forward to first quarter
HM 68 When formation losses carried forward are less than 5% of formation investment value
HM 69 When formation losses carried forward are 5% or more of formation investment value: 3-year spread
HM 70 Maximum amount of formation losses allocated by multi-rate PIEs to investor classes
Elections and consequences
HM 71 Choosing to become PIE
HM 72 When elections take effect
HM 73 Transition: provisional tax
HM 74 Transition: entities with non-standard income years
HM 75 Transition: treatment of shares held in certain companies
HM 76 Transition: FDPA companies
293 Transitional residents
294 New heading and sections HR 9 and HR 10 added
RMBS special purpose vehicles
HR 9 RMBS special purpose vehicles are transparent
HR 10 What happens when vehicle stops being RMBS special purpose vehicle?
295 New sections HZ 5 and HZ 6 added
HZ 5 Transitional provisions for PIE rules
HZ 6 Saving of binding rules relating to portfolio investment entities
296 Restrictions relating to ring-fenced tax losses
297 Restrictions relating to schedular income
298 Common ownership: group of companies
299 New section IC 13 added
IC 13 Variation of requirements for development companies in Niue
300 Pre-consolidation losses: use by group companies
301 When this subpart applies
302 Ring-fencing cap on attributed CFC net losses
303 New section IQ 2B inserted
IQ 2B Attributed CFC net loss from tax year before first affected year
304 Ring-fencing cap on FIF net losses
305 Group companies using attributed CFC net losses
306 Group companies using FIF net losses
307 Subpart IT replaced
Subpart IT—Cancellation of life insurer's losses
IT 1 Cancellation of life insurer's policyholder net losses
IT 2 Cancellation of life insurer's tax loss when allowed into policyholder base
308 Remaining refundable credits: PAYE, RWT, and certain other items
309 Remaining refundable credits: tax credits for families
310 New section LA 8B inserted
LA 8B General rules particular to life insurers
311 Use of tax credits
312 Section LB 1 replaced
LB 1 Tax credits for PAYE income payments
313 Tax credits for resident withholding tax
314 Tax credits for families
315 Tax credits related to personal service rehabilitation payments: providers
316 Tax credits related to personal service rehabilitation payments: payers
317 Tax credits for transitional circumstances
318 Tax credits for housekeeping
319 Subpart LD heading replaced
320 New heading inserted
321 Tax credits for charitable or other public benefit gifts
322 Exclusions
323 New heading and sections LD 4 to LD 8 added
Payroll donations
LD 4 Tax credits for payroll donations
LD 5 Calculating amount of tax credit and filing particulars
LD 6 When donation is paid to ineligible recipient
LD 7 When donation returned to person
LD 8 Meaning and ranking of payroll donation
324 Tax credits for imputation credits
325 Use of remaining credits by companies and trustees
326 New section LE 2B inserted
LE 2B Use of remaining credits by life insurer on policyholder base
327 Use of remaining credits by others
328 Tax credits for FDP credits
329 Subpart LH—Tax credits for expenditure on research and development
330 Who this subpart applies to
331 Tax credits relating to expenditure on research and development
332 Requirements
333 Adjustments to eligible expenditure
334 New section LH 14B inserted
LH 14B Recovery of overpaid tax credit
335 What this subpart does
336 Tax credits for foreign income tax
337 Section LJ 3 replaced
LJ 3 Meaning of foreign income tax
338 Calculation of New Zealand tax
339 Section LJ 7 replaced by new sections LJ 7 and LJ 8
LJ 7 Repaid foreign tax: effect on income tax liability
LJ 8 Repaid foreign tax: effect on FDP liability
340 Tax credits relating to attributed CFC income
341 Calculation of amount of credit
342 New section LK 5B inserted
LK 5B Credits from tax year before first affected year
343 Subpart LL repealed
344 Use of remaining credits
345 Continuity rules for carrying credits forward
346 Sections LQ 1 to LQ 4 repealed
347 Tax credits for certain investors in portfolio tax rate entities
348 Subpart LS replaced
Subpart LS—Tax credits for multi-rate PIEs and investors
LS 1 Tax credits for multi-rate PIEs
LS 2 Tax credits for investors in multi-rate PIEs
LS 3 Tax credits for zero-rated investors
LS 4 Tax credits for certain exiting investors
349 Meaning of full-time earner for family scheme
350 Some definitions for family scheme
351 Adjustments for calculation of family scheme income
352 Family scheme income of major shareholders in close companies
353 What this subpart does
354 Third requirement: residence
355 When person does not qualify
356 Continuing requirements
357 Principal caregiver
358 Second requirement: principal care
359 Third requirement: residence
360 Fifth requirement: full-time earner
361 Calculation of in-work tax credit
362 Meaning of employment for this subpart
363 Meaning of net family scheme income
364 Recovery of overpaid tax credit
365 Section MF 6 replaced
MF 6 Overpayment or underpayment of tax credit
366 Tax credits for superannuation contributions
367 Eligibility requirements
368 When short payment and unpaid compulsory employer contributions found after tax credit used
369 What this subpart does
370 Section ML 2 replaced
ML 2 Tax credit for redundancy payments
371 New section MZ 3 added
MZ 3 Exclusions from determination of family scheme income
372 Memorandum accounts
373 Credits
374 Debits
375 Opening balances of memorandum accounts
376 Shareholder continuity requirements for memorandum accounts
377 Section OA 12 repealed
378 General rules for companies with imputation credit accounts
379 Australian companies with imputation credit accounts
380 New section OB 3B inserted
OB 3B General rule for life insurer's policyholder base
381 ICA payment of tax
382 ICA resident withholding tax withheld
383 New section OB 9B inserted
OB 9B ICA company allocated imputation credit with income from PTRE
384 Section OB 9B replaced
OB 9B ICA attributed PIE income with imputation credit
385 Section OB 11 repealed
386 Section OB 17 repealed
387 ICA transfer to master fund
388 ICA refund of income tax
389 ICA amount applied to pay other taxes
390 ICA refund from tax pooling account
391 ICA transfer within tax pooling account
392 New section OB 35B inserted
OB 35B ICA debit for transfer from tax pooling account for policyholder base liability
393 ICA refund of tax credit
394 ICA transfer for net foreign attributed income
395 Section OB 39 repealed
396 Section OB 47 replaced
OB 47 Debit for policyholder base imputation credits
397 ICA benchmark dividend rules
398 Imputation additional tax on leaving wholly-owned group
399 Table O1: imputation credits
400 Table O2: imputation debits
401 General rules for companies with FDP accounts
402 New section OC 2B inserted
OC 2B General rule for life insurer's policyholder base
403 When company chooses to stop being FDPA company
404 When company emigrates
405 Section OC 6 repealed
406 Section OC 8 repealed
407 Section OC 9 repealed
408 Section OC 10 repealed
409 FDPA refund of tax credit
410 Section OC 20 replaced
OC 20 Debit for policyholder base FDP credits
411 Section OC 23 repealed
412 Heading before section OC 30 replaced
413 Payment of further FDP for closing debit balance
414 Payment of further FDP when company no longer New Zealand resident
415 Reduction of further FDP
416 Section OC 33 replaced
OC 33 Income tax paid satisfying liability for further income tax
417 Section OC 34 replaced
OC 34 Further income tax paid satisfying liability for income tax
418 Heading and sections OC 35 to OC 39 repealed
419 Table O3: FDP credits
420 Table O4: FDP debits
421 General rules for companies with CTR accounts
422 Choosing to become CTR company
423 When company stops being CTR company
424 Section OD 5 repealed
425 Section OD 8 repealed
426 Section OD 11 repealed
427 CTRA increase in resident shareholding
428 Section OD 23 repealed
429 Section OD 24 repealed
430 Table O5: conduit tax relief credits
431 Table O6: conduit tax relief debits
432 Branch equivalent tax accounts of companies
433 Heading and sections OE 12 and OE 13 repealed
434 Sections OE 14 to OE 16 repealed
435 New heading and section OE 16B inserted
Debit if credit balance at beginning of first affected income year
OE 16B Company with credit balance at beginning of first affected income year
436 Table O7: branch equivalent tax credits
437 Table O8 repealed
438 General rules for companies with ASC accounts
439 Subpart OJ repealed
440 MACA payment of tax
441 MACA refund of income tax
442 MACA payment of other taxes
443 New section OK 14B inserted
OK 14B MACA refund of tax credit
444 Table O18: Maori authority debits
445 When credits and debits arise only in consolidated imputation group accounts
446 Provisions applying to consolidated imputation groups
447 Consolidated ICA payment of tax
448 Section OP 14 repealed
449 Consolidated ICA resident withholding tax withheld
450 Section OP 20 repealed
451 Section OP 21 repealed
452 Consolidated ICA refund of income tax
453 Consolidated ICA amount applied to pay other taxes
454 New section OP 33B inserted
OP 33B Consolidated ICA debit for transfer from tax pooling account for policyholder base liability
455 Consolidated ICA refund of tax credit
456 Section OP 38 repealed
457 Consolidated ICA transfer to policyholder credit account
458 Section OP 44 replaced
OP 44 Consolidated ICA debit for policyholder base imputation credits
459 Table O19: imputation credits of consolidated imputation groups
460 Table O20: imputation debits of consolidated imputation groups
461 When credits and debits arise only in consolidated FDP group accounts
462 Section OP 56 repealed
463 Section OP 57 repealed
464 Section OP 61 repealed
465 Section OP 62 repealed
466 Consolidated FDPA refund of tax credit
467 Section OP 74 replaced
OP 74 Consolidated FDPA debit for policyholder base FDP credits
468 Table O21: FDP credits of consolidated FDP groups
469 Table O22: FDP debits of consolidated FDP groups
470 CTR accounts of consolidated groups
471 When credits and debits arise only in CTR group accounts
472 Section OP 81 repealed
473 Section OP 82 repealed
474 Section OP 88 repealed
475 Section OP 95 repealed
476 Table O23: conduit tax relief credits of consolidated groups
477 Table O24: conduit tax relief debits of consolidated groups
478 Section OP 99 repealed
479 Heading and sections OP 105 to OP 108 repealed
480 New heading and section OP 108B inserted
OP 108B Consolidated BETA group with credit balance at beginning of first affected income year
481 Table O25: branch equivalent tax credits of consolidated BETA groups
482 Table O26 repealed
483 Headings and sections OP 109 to OP 116 repealed
484 Tables O27 and O28 repealed
485 ASCA lost excess available subscribed capital
486 Modifying ratios for imputation credits and FDP credits
487 New section OZ 18 added
OZ 18 Credit-back of PCA balance
488 What this Part does
489 Tax obligations for employment-related taxes
490 Withholding and payment obligations for passive income
491 When obligations not met
492 Payment dates for interim and other tax payments
493 Amalgamation of companies
494 Regulations
495 Application of other provisions for purposes of ESCT rules and NRWT rules
496 Payment of terminal tax
497 Schedular income tax liability for filing taxpayers for non-resident passive income
498 Who is required to pay provisional tax?
499 Estimation method
500 Attribution rule for income from personal services
501 Section RC 36 repealed
502 PAYE rules and their application
503 PAYE income payments
504 Salary or wages
505 Certain benefits and payments
506 Schedular payments
507 Reduction in certain circumstances
508 Multiple payments of salary or wages
509 Advance payments of salary or wages
510 New section RD 13B inserted
RD 13B Adjustments for payroll donations
511 Payments of extra pay with other PAYE income payments
512 Schedular payments without notification
513 Schedular payments to non-resident entertainers
514 PAYE income payment forms for amounts of tax paid to Commissioner
515 Calculation of all-inclusive pay
516 Value of and payments towards fringe benefits
517 Close company option
518 Small business option
519 Employer's superannuation contributions
520 Calculating amounts of tax for employer's superannuation contributions
521 Choosing to have amount treated as salary or wages
522 Choosing different rates for employer's superannuation contributions
523 Calculating amounts on failure to withhold
524 Amounts of tax treated as paid to and received by superannuation funds
525 Resident passive income
526 Obligation to withhold RWT
527 Persons who have withholding obligations
528 Agents' or trustees' obligations in relation to certain dividends
529 Notification by companies
530 Interest
531 Non-resident passive income
532 Certain dividends
533 When dividends fully imputed or fully credited
534 Non-cash dividends
535 Dividends paid to companies under control of non-residents
536 Section RF 12 replaced by sections RF 12 to RF 12C
RF 12 Interest paid by approved issuers or transitional residents
RF 12B Interest derived jointly with residents
RF 12C Amount derived from non-resident life insurer becoming resident
537 Credit balance in branch equivalent tax account
538 Using loss balances
539 Reduction of payments for conduit tax relief
540 Subpart RG repealed
541 Refunds for overpaid tax
542 Overpayment on income statements
543 Using refund to satisfy tax liability
544 Operation of PAYE intermediaries' trust accounts
545 General responsibility of employers
546 Information required from employers
547 Employer's superannuation contributions
548 General responsibilities of PAYE intermediaries
549 Collection, payment, and information requirements
550 Tax pooling intermediaries
551 New section RP 17B inserted
RP 17B Tax pooling accounts and their use
552 Deposits in tax pooling accounts
553 Transfers from tax pooling accounts
554 Standard method: 2008–09 and 2009–10 income years
555 GST ratio method: 2008–09 and 2009–10 income years
556 New section RZ 11 added
RZ 11 Refunds for life insurers
557 Definitions
558 Meaning of income tax varied
559 Treatment of qualifying company election tax, FBT, FDP penalty tax, imputation penalty tax, and withdrawal tax
560 Two companies with common control
561 Two companies with common control: 1988 version provisions
562 Some definitions
563 Table, heading, and sections YB 1 to YB 20 replaced
Associated persons
YB 1 What this subpart does
YB 2 Two companies
YB 3 Company and person other than company
YB 4 Two relatives
YB 5 Person and trustee for relative
YB 6 Trustee and beneficiary
YB 7 Two trustees with common settlor
YB 8 Trustee and settlor
YB 9 Settlor and beneficiary
YB 10 Who is a settlor?
YB 11 Trustee and person with power of appointment or removal
YB 12 Partnership and partner
YB 14 Tripartite relationship
YB 15 Exceptions for employee trusts
YB 16 Exceptions for certain trusts and charitable organisations
564 Transparency of nominees
565 Heading for subpart YC
566 Heading and section YC 1 repealed
567 Look-through rule for corporate shareholders
568 Disregarding certain securities
569 Reverse takeovers
570 New section YC 18B inserted
YC 18B Corporate reorganisations not affecting economic ownership
571 Residence of natural persons
572 Country of residence of foreign companies
573 Classes of income treated as having New Zealand source
574 Apportionment of income derived partly in New Zealand
575 General rules for currency conversion
576 New section YZ 2 inserted
YZ 2 Saving of effect of section 394L(4A) of Income Tax Act 1976
577 Schedule 1—Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits
578 Schedule 2—Basic tax rates for PAYE income payments
579 Schedule 4—Rates of tax for schedular payments
580 Schedule 5—Fringe benefit values for motor vehicles
581 Schedule 13—Depreciable land improvements
582 Schedule 20—Expenditure on farming, horticultural, aquacultural, and forestry improvements
583 Schedule 21—Expenditure and activities related to research and development
584 Schedule 24—International tax rules: grey list countries
585 Schedule 25—Foreign investment funds
586 Schedule 27—Countries and types of income with unrecognised tax
587 Schedule 28––Requirements for complying fund rules
588 New schedule 29—Portfolio investment entities: listed investors
589 Schedule 32—Recipients of charitable or other public benefit gifts
590 Schedule 49—Enactments amended
591 Schedule 50—Amendments to Tax Administration Act 1994
592 Schedule 51—Identified changes in legislation
593 Schedule 52—Comparative tables of old and rewritten provisions
594 Consequential amendments: associated person and list of defined terms
Part 2Amendments to Tax Administration Act 1994
595 Tax Administration Act 1994
596 Interpretation
597 Construction of certain provisions
598 Part 2B replaced
Part 2BIntermediaries for PAYE, provisional tax, and resident passive income
PAYE intermediaries
15C PAYE intermediaries and listed PAYE intermediaries
15D Application for approval as PAYE intermediary
15E Revocation of approval
15F Fitness of applicants
15G Application for approval as listed PAYE intermediary
15H Grounds for revocation of listing
15I Procedure for revocation of listing
15J Employers’ arrangements with PAYE intermediaries
15K Privacy requirements
15L Amended monthly schedules
15M Subsidy claim forms
RWT proxies
15N RWT proxies
Tax pooling intermediaries
15O Establishing tax pooling accounts
15P Role of Commissioner
15Q Applications to establish tax pooling accounts
15R Fitness of applicants
15S Requirements for applications to establish tax pooling accounts
15T Winding up tax pooling accounts
599 Information to be furnished on request of Commissioner
600 No requirement to disclose tax advice document
601 Treatment of book or document
602 Claim that book or document is tax advice document
603 Person must disclose tax contextual information from tax advice document
604 Challenge to claim that book or document is tax advice document
605 Keeping of business and other records
606 Records to be kept by employer or PAYE intermediary
607 PAYE tax codes
608 Special tax code certificates
609 Variation of requirements
610 New heading and section 24Q inserted
24Q Transfer of payroll donations by employers
611 Section 28B replaced
28B Notification of investors’ tax rates
612 Portfolio tax rate entity to give statement to investors and request information
613 Section 31B replaced
31B Notification requirements for PIEs
31C Notification requirements for multi-rate PIEs
614 Records to be provided by employer who contributes to superannuation fund
615 Certification requirements for withdrawals subject to section CS 1 of Income Tax Act 2007
616 Applications for RWT exemption certificates
617 Heading and section 32N repealed
618 Returns of income
619 Annual returns of income not required
620 Electronic format of employer monthly schedule and PAYE payment form
621 Section 36AB replaced
36AB Electronic return requirements for multi-rate PIEs
622 Returns to annual balance date
623 Returns by persons with tax credits for housekeeping payments and charitable or other public benefit gifts
624 Return by person claiming rebate on redundancy payment
625 Portfolio tax rate entities and portfolio investor proxies to make returns, file annual reconciliation statement
626 Section 57B replaced
57B Return requirements for multi-rate PIEs
627 Disclosure of trust particulars
628 Disclosure of interest in foreign company or foreign investment fund
629 Section 66 repealed
630 Tax credit relating to KiwiSaver and complying superannuation fund members: member credit form
631 Statements in relation to research and development tax credits: single persons
632 Section 68E replaced
68E Statements in relation to research and development tax credits: internal software development groups
633 New section 68F inserted
68F Requirements for statements in relation to research and development tax credits
634 Section 78E repealed
635 Section 78F repealed
636 New section 80KLB inserted
80KLB Recovery of excess tax credits
637 Effect of extra instalment on entitlement to tax credit
638 Officers to maintain secrecy
639 Disclosure of information for verification of large budget screen production grant entitlement
640 Disclosure of information in relation to Working for Families tax credits
641 Further secrecy requirements
642 New section 89AB inserted
89AB Response periods
643 Taxpayers and others with standing may issue notices of proposed adjustment
644 Taxpayer may issue notice of proposed adjustment for taxpayer assessment
645 Completing the disputes process
646 Determination on economic rate
647 Determination on special rates and provisional rates
648 Commissioner may decline to issue special rate or provisional rate
649 Notice of setting of economic rate
650 Applications for determinations
651 Determination on type of interest in FIF and use of fair dividend rate method
652 New heading and section 91AAQ inserted
Determinations relating to non-attributing active CFCs
91AAQ Determination on insurer as non-attributing active CFC
653 New heading and section 91AAR inserted
Determinations relating to relocation payments
91AAR Determination relating to eligible relocation expenses
654 Assessment of shortfall penalties
655 Section 102 repealed
656 Section 103 repealed
657 Section 103A repealed
658 Section 104 repealed
659 Time bar for amendment of income tax assessment
660 Extension of time bars
661 Amended assessments for research and development tax credits
662 Definitions
663 Section 120EA repealed
664 Provisional tax instalments in transitional years
665 Where provisional tax paid by company does not count as overpaid tax
666 Variation to definition of date interest starts
667 Interest paid on deposits in tax pooling accounts
668 Section 120R repealed
669 Certain rights of objection not conferred
670 Certain rights of challenge not conferred
671 Non-electronic filing penalty
672 Late payment penalty
673 Imposition of late payment penalties when financial relief sought
674 Imputation penalty tax payable where end of year debit balance
675 Imputation penalty tax payable in some circumstances
676 Section 140C repealed
677 FDP penalty tax payable in some circumstances
678 Section 140CA repealed
679 Tax shortfalls
680 Unacceptable tax position
681 Abusive tax position
682 Evasion or similar act
683 Not paying employer monthly schedule amount
684 Limitation on reduction of shortfall penalty
685 New date for payment of tax that is not a penalty
686 Due dates for payment of imputation penalty tax, FDP penalty tax, and underestimation penalty tax
687 Knowledge offences
688 Evasion or similar offence
689 Recovery of civil penalties
690 Taxes that may be recovered
691 Transfer of excess tax within taxpayer's accounts
692 Transfer of excess tax to another taxpayer
693 Instalment arrangements
694 Relief to taxpayers to whom new start grants payable
695 Section 181 repealed
696 Section 183 repealed
697 Remission for reasonable cause
698 Section 183ABA replaced
183ABA Remission in circumstances of emergency event
699 Small amounts of penalties and interest not to be charged
700 Remission on application
701 Payments into, and out of, Listed PAYE Intermediary Bank Account
702 Power to make interim payments of WFF tax credit
Part 3Amendments to Goods and Services Tax Act 1985
703 Goods and Services Tax Act 1985
704 Interpretation
705 Meaning of term supply
706 Supply of certain imported services
707 Time of supply
708 Value of supply of goods and services
709 Zero-rating of goods
710 Zero-rating of services
711 New section 11C inserted
11C Treatment of supplies by operators of loyalty programmes
712 Fringe benefits and entertainment expenses
713 Group of companies
Part 4Amendments to KiwiSaver Act 2006
714 KiwiSaver Act 2006
715 Interpretation
716 Section 13 repealed
717 Other situations when automatic enrolment rules do not apply
718 Eligibility to be exempt employer
719 Involuntary transfers
720 What happens when initial back-dated validation ends, with no confirmed back-dated validation?
721 Contribution rate
722 Interest rate
723 How and when interest is paid on refunds
724 Refunds of employer contribution by Commissioner if employee opts out
725 General
726 Compulsory employer contribution amount: general rule
727 New sections 101FB and 101FC inserted
101FB Grace periods: employers
101FC De minimis: other contributions and hybrid schemes amount
728 Rules: providers
729 Terms relating to members' tax credits implied into trust deed
730 Terms relating to lump sum payments by complying superannuation funds
731 Crown contribution
732 Regulations relating to mortgage diversion facility
733 Schedule 1––KiwiSaver scheme rules
Part 5Amendments to Income Tax Act 2004
734 Income Tax Act 2004
735 New section CC 8B inserted
736 What is a transfer of value?
737 Returns of capital: off-market share cancellations
738 Treasury stock acquisitions
739 Foreign investment fund income
740 Available subscribed capital amount
741 Amounts derived in connection with employment
742 Meaning of expenditure on account of an employee
743 Benefits, pensions, compensation, and government grants
744 New section CR 3 added
CR 3 Income for general insurance outstanding claims reserve
745 Section CW 3B repealed
746 Expenditure on account, and reimbursement, of employees
747 New sections CW 13B and CW 13C inserted
CW 13B Relocation payments
CW 13C Payments for overtime meals and certain other allowances
748 Local and regional promotion bodies
749 Benefits provided instead of allowances
750 Section CX 24 replaced
CX 24 Accommodation
751 Government grants to businesses
752 New heading inserted
753 New section CX 44G inserted
CX 44G Disposal of pre-1990 forest land units
754 Determining tax liabilities
755 New section DB 8B inserted
DB 8B Interest or expenditure connected to stapled debt security
756 Cost of revenue account property
757 Gifts of money by company
758 New section DB 46B inserted
DB 46B Liabilities for emissions
759 Criteria for approval of share purchase schemes: before period of restriction ends
760 Employment-related activities
761 Interpretation: reimbursement and apportionment
762 Forestry business on land bought from the Crown, Maori owners, or holding company: no deduction
763 New section DT 1A inserted
764 Arrangement for petroleum exploration expenditure and sale of property
765 Petroleum development expenditure
766 Disposal of petroleum mining asset to associate
767 Amount written off by holding company
768 New section DW 3 added
DW 3 Deduction for general insurance outstanding claims reserve
769 Prepayments
770 Pool method: calculating amount of depreciation
771 Economic rate for plant, equipment, or building, with high residual value
772 Annual rate for item acquired in person's 1995–96 or later income year
773 Meaning of adjusted tax value
774 Section EJ 11 replaced
EJ 11 Petroleum development expenditure: default allocation rule
EJ 11B Petroleum development expenditure: reserve depletion method
775 Relinquishing petroleum permit
776 New sections EJ 12B and EJ 12C inserted
EJ 12B Dry well drilled
EJ 12C Well not producing
777 Disposal of petroleum mining asset
778 Sections EJ 17 and EJ 18 replaced
EJ 18 Meaning of petroleum mining development
779 What spreading methods do
780 IFRS taxpayer method
781 IFRS method
782 Determination alternatives to IFRS
783 Expected value method and equity-free fair value method
784 New section EW 21 inserted
785 Default method
786 Failure to use method for financial reporting purposes
787 Change of spreading method
788 When calculation of base price adjustment required
789 Base price adjustment formula
790 Direct control interests
791 Direct income interests
792 Direct income interests in FIFs
793 Exemptions: direct income interests in FIF in grey list country
794 Use of particular calculation methods required
795 Comparative value method
796 Fair dividend rate method: usual method
797 Fair dividend rate method: method for unit valuers and persons valuing interests daily
798 Cost method
799 Codes: comparative value method, deemed rate of return method, fair dividend rate method, and cost method
800 Measurement of cost
801 Transitional rule for IFRS financial reporting method
802 New sections EZ 51 and EZ 52 added
EZ 51 Transitional rule for financial reporting method
EZ 52 Transitional rule for changes from the fair value method
803 Floating rate of interest on debentures
804 Interest on debentures issued in substitution for shares
805 New section FC 2B inserted
FC 2B Stapled debt securities
806 Rules for calculating New Zealand group debt percentage
807 New Zealand net equity of New Zealand banking group
808 Section GC 14EB repealed
809 Dividends from qualifying company
810 Modification of agency provisions in respect of income from company debentures
811 Effect of failure to meet eligibility requirements for entities
812 Investor membership requirement
813 Investor interest size requirement
814 Further eligibility requirements relating to investments
815 Unlisted company may choose to become portfolio listed company
816 Becoming portfolio investment entity
817 Credits received by portfolio tax rate entity or portfolio investor proxy
818 Determination of amount of credit in certain cases
819 Credit of tax for imputation credit
820 Credit of tax for dividend withholding payment credit in hands of shareholder
821 Credits in respect of dividends to non-resident investors
822 Special rules for holding companies
823 Credits arising to imputation credit account
824 Allocation rules for imputation credits
825 Amount of imputation credit to be attached to cash distribution
826 Notional distribution deemed to be dividend
827 Amount of imputation credit to be attached to cash distribution
828 Notional distribution deemed to be dividend or taxable Maori authority distribution
829 Branch equivalent tax account of company
830 Credits and debits arising to branch equivalent tax account of company
831 Debits and credits arising to group branch equivalent tax account
832 Use of consolidated group credit to reduce dividend withholding payment, or use of group or individual debit to satisfy income tax liability
833 Allocation rules for dividend withholding payment credits
834 Dividend with both imputation credit and dividend withholding payment credit attached
835 Conduit tax relief account
836 Credits arising to conduit tax relief account
837 Debits arising to conduit tax relief account
838 Consolidated group conduit tax relief account
839 Credits arising to group conduit tax relief account
840 Debits arising to group conduit tax relief account
841 Retirement scheme contributors
842 Application of RWT rules
843 Resident withholding tax deductions from dividends deemed to be dividend withholding payment credits
844 Definitions
845 Schedule 16—Depreciable land improvements
Part 6Amendments to other Acts and regulations
Income Tax Act 1994
846 Income Tax Act 1994 amended
847 Exempt income—employee allowances and expenditure on account of employee
848 Meaning of “fringe benefit”
“fringe benefit”
849 Accrual expenditure
850 Special and provisional economic rates
851 Use of consolidated group credit to reduce dividend withholding payment, or use of group or individual debit to satisfy income tax liability
852 Definitions
853 Schedule 6A—Specified types of entertainment
854 Schedule 16—Depreciable land improvements
Income Tax Act 1976
855 Special and provisional economic rates
856 Schedule 21—Depreciable land improvements
Estate and Gift Duties Act 1968
857 Interpretation
Stamp and Cheque Duties Act 1971
858 Interpretation
Taxation Review Authorities Act 1994
859 Hearing of objections by an Authority
Taxation (Business Taxation and Remedial Matters) Act 2007
860 Use of consolidated group credit to reduce dividend withholding payment or use of group or individual debit to satisfy income tax liability
Acts referring to associated person
861 Consequential amendments to other Acts: associated person
Companies Act 1993
862 Schedule 7—Preferential claims
Insolvency Act 2006
863 Priority of payments to preferential creditors
Income Tax (Depreciation Determinations) Regulations 1993
864 Income Tax (Depreciation Determinations) Regulations 1993
Goods and Services Tax (Grants and Subsidies) Order 1992
865 Schedule—Non-taxable grants and subsidies
KiwiSaver Regulations 2006
866 KiwiSaver Regulations 2006 amended
867 What member of KiwiSaver scheme must do next to participate in mortgage diversion facility
868 What scheme provider must do to participate in mortgage diversion facility
Schedule 1 Consequential amendments to lists of defined terms: associated person
Schedule 2 Consequential amendments to other Acts: associated person
Legislative history
The Parliament of New Zealand enacts as follows: