Taxation (Livestock Valuation, Assets Expenditure, and Remedial Matters) Act 2013

121 Section 5 amended (Meaning of term supply)

(1)

Before section 5(4), insert:

(3B)

For the purposes of this Act, when a person who is a non-resident ceases to be a registered person,—

(a)

any goods that are part of the assets of the taxable activity carried on by the person that are present in New Zealand at the time the person ceases to be registered are treated as supplied by the person in the course of the taxable activity at a time immediately before the person ceases to be registered:

(b)

any services that would be performed in New Zealand as part of the taxable activity carried on by the person at the time the person ceases to be registered are treated as performed by the person in the course of the taxable activity at a time immediately before the person ceases to be registered.

(2)

Replace section 5(10) with:

(10)

For the purposes of this Act, an amount of money paid by a person to participate in gambling (including a New Zealand lottery) or in a prize competition is treated as a payment for a supply of services by the following:

(a)

for gambling, by the person, society, licensed promoter, or organiser who under the Gambling Act 2003 conducts the gambling:

(b)

for a prize competition, by the person who conducts the prize competition.