Income Tax Amendment Act 2015

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Coat of Arms of New Zealand

Income Tax Amendment Act 2015

Public Act
 
2015 No 104
Date of assent
 
6 November 2015
Commencement
 
see section 2

The Parliament of New Zealand enacts as follows:

1 Title

This Act is the Income Tax Amendment Act 2015.

2 Commencement

This Act comes into force on the day after the date on which it receives the Royal assent.

3 Principal Act

This Act amends the Income Tax Act 2007 (the principal Act).

4 Section DB 45 replaced (Bribes paid to public officials)

Replace section DB 45 with:

DB 45 Bribes
When this section applies

(1)

This section applies when a person (person A) gives or offers, or agrees to give, a bribe in the circumstances specified in section 101, 102(2), 103(2), 104(2), 105(2), 105C, or 105D(1) of the Crimes Act 1961.

No deduction

(2)

Person A is denied a deduction for the amount of the bribe.

Exclusions

(3)

This section does not apply in the circumstances specified in section 105C(3) of the Crimes Act 1961.

Definition

(4)

In this section, bribe is defined in section 99 of the Crimes Act 1961.

Link with subpart DA

(5)

This section overrides the general permission.

Defined in this Act: bribe, deduction, general permission, New Zealand

Compare: 2004 No 35 s DB 36

5 Section YA 1 amended (Definitions)

(1)

In section YA 1, repeal the definitions of benefit, foreign public official, public official, and routine government action.

(2)

In section YA 1, definition of bribe, delete “paid to public officials”.

(3)

In section YA 1, definition of foreign country, delete “paid to public officials”.

Legislative history

21 October 2015

Divided from Organised Crime and Anti-corruption Legislation Bill (Bill 219–2) as Bill 219–3J

4 November 2015

Third reading

6 November 2015

Royal assent

This Act is administered by the Inland Revenue Department.