Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019

  • A correction has been made to section 375 on 28 August 2019 under section 25(1)(j)(iii) of the Legislation Act 2012.

Reprint as at 26 June 2019

Coat of Arms of New Zealand

Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019

Public Act
 
2019 No 5
Date of assent
 
18 March 2019
Commencement
 
see section 2
Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Inland Revenue Department.

Contents

1Title
2Commencement
3Annual rates of income tax for 2018–19 tax year
4Tax Administration Act 1994
5Section 3 amended (Interpretation)
6Section 4A amended (Construction of certain provisions)
7Section 15 amended (Annual report)
8Section 15B amended (Taxpayer’s tax obligations)
9Part heading and sections 15C to 15Z renumbered
10New subpart 3A inserted (Collection, use, and disclosure of revenue information)
16Purposes of subpart
16BPrinciples on which subpart based
16CKey terms
17Commissioner may obtain information by accessing property or documents
17BCommissioner may require information or production of documents
17CCommissioner’s powers in relation to documents
17DWarrants
17EInformation or documents treated as in persons’ knowledge, possession, or control
17FCommissioner may require information about offshore payments
17GCommissioner may require information from large multinational groups
17HCourt may make order for provision of information
17ICommissioner may conduct inquiries
17JCommissioner may apply for District Court Judge to conduct inquiries
17KQuestions and statements made in inquiries
17LRegulations providing for regular collection of bulk data
17MUse of information
18Confidentiality of sensitive revenue information
18BRequirements for revenue officers and other persons
18CPermitted disclosures
18DDisclosures made in carrying into effect revenue laws
18EDisclosures made under information-sharing arrangements
18FRegulations for information-sharing for public services purposes
18GDisclosures to persons and their representatives
18HDisclosures to other agencies for certain specified purposes
18IDisclosures for international purposes
18JDisclosures for risk of harm purposes
11New subpart heading inserted (Subpart 3AB—Tax advice documents)
12Subpart heading amended (Subpart 3AC—Taxpayers’ obligations to keep records)
13Section 21 repealed (Information requisitions in relation to offshore payments)
14Section 21BA repealed (Information required to be provided by large multinational group)
15Section 22 amended (Keeping of business and other records)
16New subpart inserted (Subpart 3B—Reporting of income information by individuals)
22COutline of subpart
22DKey terms
22EInformation included in pre-populated accounts
22FInformation requirements
22GAmending accounts for incorrect or missing information
22HFinalising accounts
22IReturns and assessments
22JCommissioner’s power in relation to certain amounts of tax payable
22KNo obligation to provide information: de minimis and certain other amounts
22LInformation particulars
22MSetting electronic and non-electronic requirements
17Section 23 amended (Keeping of returns where information transmitted electronically)
18Subparts 3C and 3D amended
19Section 23C amended (Meaning of employment income information)
20Section 23D amended (Employers’ groups for delivery of information)
21Section 24B amended (PAYE tax codes)
22Section 24D amended (Tax codes provided by the Commissioner)
23New section 24DB inserted (Use of unsuitable tax codes)
24DBUse of unsuitable tax codes
24Section 24Q amended (Transfer of payroll donations by employers)
25Section 25A replaced (Use of inconsistent RWT rates)
25AUse of unsuitable RWT rates
26Subpart 3E amended (Subpart 3E—Investment income information)
27Section 25D amended (Investment income information)
28Section 28B amended (Notification of investors’ tax file numbers)
29Section 31C amended (Notification requirements for multi-rate PIEs)
30Section 32E amended (Applications for RWT exemption certificates)
31Section 33 amended (Returns of income)
32Sections 33AA, 33C, and 33D repealed
33Section 34B repealed (Commissioner to list tax agents)
34Section 36BB amended (Electronic format for details required for tax pooling intermediaries)
35Section 36BD amended (Electronic filing requirements for registered persons)
36Section 37 amended (Dates by which annual returns to be furnished)
37Section 38 amended (Returns to annual balance date)
38Section 41 amended (Annual returns by persons who receive family assistance credit)
39Section 41A amended (Returns by persons with tax credits for charitable or other public benefit gifts)
40Section 42C amended (Income tax returns by undischarged bankrupt)
41Section 43 amended (Income tax returns and assessments by executors or administrators)
42Section 46 amended (Employers to make returns as to employees)
43Section 47 amended (ESCT statements provided by employers and others)
44Section 55B amended (Information relating to offshore persons and tax file numbers)
45Part 3A repealed (Part 3A—Income statements)
46Section 80KA amended (Applications for payment of tax credit by instalment)
47Section 80KM amended (Summary of instalments paid)
48Section 80KN amended (Payment of tax credit by chief executive)
49Heading and sections 81 to 88 repealed
50Section 89 amended (Commissioner to notify Minister where funds of gift-exempt body applied for non-charitable purpose, etc)
51Section 89C amended (Notices of proposed adjustment required to be issued by Commissioner)
52Section 89D amended (Taxpayers and others with standing may issue notices of proposed adjustment)
53Section 89N amended (Completing the disputes process)
54Section 91C amended (Taxation laws in respect of which binding rulings may be made)
55New sections 91CB and 91CC inserted
91CBBinding rulings on certain matters
91CCBinding rulings on certain determination matters
56Section 91CB amended (Binding rulings on certain matters)
57Section 91E amended (Commissioner to make private rulings on application)
58Section 91EA amended (Effect of a private ruling)
59Section 91EB amended (Application of a private ruling)
60Section 91ED amended (Disclosure requirements)
61Section 91EF amended (Assumptions in making a private ruling)
62Section 91EH amended (Content and notification of a private ruling)
63New heading and new sections 91EK to 91ET inserted
91EKCommissioner may make short-process rulings
91ELApplying for short-process ruling
91EMEffect of short-process ruling
91ENApplication of short-process ruling
91EODisclosure requirements
91EPCommissioner may request further information
91EQConditions on which short-process ruling based
91ERRight to consultation
91ESContent and notification of short-process ruling
91ETTreatment of information
64Section 91F amended (Commissioner may make product rulings)
65Section 91FB amended (Application of a product ruling)
66Section 91FC amended (Applying for a product ruling)
67Section 91FF amended (Assumptions in making a product ruling)
68Section 91FH amended (Content and notification of a product ruling)
69Section 91GB amended (Commissioner to make status rulings on application)
70Section 92 amended (Taxpayer assessment of income tax)
71Section 106 amended (Assessment where default made in furnishing returns)
72Section 108 amended (Time bar for amendment of income tax assessment)
73Section 108B amended (Extension of time bars)
74Section 110 amended (Evidence of returns and assessments)
75Section 111 amended (Commissioner to give notice of assessment to taxpayer)
76Section 113A replaced (Correction of minor errors in subsequent returns)
113ACorrection of certain errors in subsequent returns
77Section 120C amended (Definitions)
78Section 120F amended (Interest priority and rights of Commissioner)
79Section 120KB amended (Provisional tax instalments and due dates generally)
80Section 120KBB amended (Interest for most standard method and some estimation method provisional taxpayers)
81Section 120L amended (Meaning of unpaid tax and overpaid tax for provisional tax purposes)
82New section 120VD inserted (Interest on tax credits for charitable or other public benefit gifts)
120VDInterest on tax credits for charitable or other public benefit gifts
83Section 124A renumbered (Application of Part 8)
84New Part 7B inserted (Part 7B—Third-party providers)
124BWhat this Part does
124CTax agents
124DRepresentatives
124EInformation requirements for tax agents and representatives
124FNominated persons
124GRefusal, removal, or disallowance of status of tax agents, representatives, and nominated persons
85Section 124H amended (PAYE intermediaries and listed PAYE intermediaries)
86Sections 124L, 124M, and 124N repealed
87Section 124O amended (Employers’ arrangements with PAYE intermediaries)
88Section 124R repealed (Subsidy claim forms)
89Section 125 amended (Certain rights of objection not conferred)
90Section 135 amended (Powers of Taxation Review Authority on determination of objection or case stated)
91Section 136 amended (When objection may be referred directly to High Court)
92Section 138A amended (Application of this Part)
93Section 138E amended (Certain rights of challenge not conferred)
94Section 139A amended (Late filing penalty for certain returns)
95Section 139B amended (Late payment penalty)
96Section 141B amended (Unacceptable tax position)
97Section 141B amended (Unacceptable tax position)
98Section 141JA amended (Application of Part 9 to non-filing taxpayers)
99Section 143 amended (Absolute liability offences)
100Section 143C amended (Offence for failure of officers of department to maintain secrecy)
101Sections 143D and 143E replaced
143DOffences related to disclosure of certain information by persons other than revenue officers
143EOffences related to disclosure of certain information to employees
143EBOffences related to disclosure of certain information by employers and directors
102Section 173L amended (Transfer of excess tax within taxpayer’s accounts)
103Section 184A amended (Refund of tax paid in excess made by direct credit to bank account)
104New section 225AB inserted (Order in Council amending schedule 18B of Income Tax Act 2007)
225ABOrder in Council amending schedule 18B of Income Tax Act 2007
105New section 227EB inserted (Transitional provisions: publication requirements related to RWT-exempt status and certain exemption certificates)
227EBTransitional provisions: publication requirements related to RWT-exempt status and certain exemption certificates
106New section 227F inserted (Transitional provisions related to information disclosures)
227FTransitional provisions related to information disclosures
107New section 227G inserted (Transitional provision related to individuals’ income information)
227GTransitional provision related to individuals’ income information
108Schedule 4 amended (Reporting of employment income information)
109Schedule 5 amended (Certain tax codes and rates)
110Schedule 6 amended (Reporting of investment income information)
111New schedules inserted
112Schedule 8 amended (Reporting of income information by individuals and treatment of certain amounts)
1Writing off certain amounts of tax payable
2Exclusions
3Small amounts of tax payable
113Consequential amendments
114Income Tax Act 2007
115Section CB 6A amended (Disposal within 5 years: bright-line test for residential land)
116Section CB 9 amended (Disposal within 10 years: land dealing business)
117Section CB 10 amended (Disposal within 10 years: land development or subdivision business)
118Section CB 11 amended (Disposal within 10 years of improvement: building business)
119Section CB 15 amended (Transactions between associated persons)
120Section CB 15C amended (Council-controlled organisations and other companies)
121New heading and new section CB 15D inserted
CB 15DHousing New Zealand Corporation and wholly-owned group
122Section CB 16A amended (Main home exclusion for disposal within 5 years)
123Section CB 16 amended (Residential exclusion from sections CB 6 to CB 11)
124Section CB 17 amended (Residential exclusion from sections CB 12 and CB 13)
125Section CB 18 amended (Residential exclusion from section CB 14)
126Section CB 27 amended (Income equalisation schemes)
127Section CB 28 amended (Environmental restoration accounts)
128Section CD 3 amended (Meaning of dividend)
129Section CD 5 amended (What is a transfer of value)
130Section CD 6 amended (When is a transfer caused by a shareholding relationship?)
131Section CD 29C replaced (Transfers to shareholders by ASX-listed Australian company of shares in subsidiary)
CD 29CTransfers to shareholders by ASX-listed Australian company of shares in subsidiary
132Section CE 1 amended (Amounts derived in connection with employment)
133New sections CG 8B and CG 8C inserted
CG 8BRecoveries after deductions for high-priced bloodstock removed from New Zealand
CG 8CRecoveries after deductions for high-priced bloodstock disposed of to non-residents
134Section CV 1 amended (Group companies)
135Section CV 2 amended (Consolidated groups: income of company in group)
136Section CW 9 amended (Dividend derived from foreign company)
137Section CW 19 amended (Amounts derived during short-term visits)
138Section CW 35 amended (Personal service rehabilitation payments)
139New section CW 38B inserted (Public purpose Crown-controlled companies)
CW 38BPublic purpose Crown-controlled companies
140Section CW 41 amended (Charities: non-business income)
141Section CW 42 amended (Charities: business income)
142New section CW 52B inserted (Disability support services)
CW 52BDisability support services
143Section CX 10 amended (Employment-related loans)
144Section CX 27 amended (Assistance with tax returns)
145Section CX 51 amended (Income equalisation schemes)
146Section CX 60 amended (Intra-group transactions)
147Section CZ 25 amended (Land and buildings as revenue account property affected by Canterbury earthquakes and replaced—insurance or compensation, Government purchase)
148New section CZ 25B inserted (Land and buildings as revenue account property affected by Hurunui/Kaikōura earthquakes and replaced—insurance or compensation)
CZ 25BLand and buildings as revenue account property affected by Hurunui/Kaikōura earthquakes and replaced—insurance or compensation
149New section CZ 35 inserted (Treatment of backdated payments for social rehabilitation: 2008–09 to 2017–18 income years)
CZ 35Treatment of backdated payments for social rehabilitation: 2008–09 to 2017–18 income years
150Section DB 18AA amended (Square metre rate method)
151Section DB 41 amended (Charitable or other public benefit gifts by company)
152Section DB 46 amended (Avoiding, remedying, or mitigating effects of discharge of contaminant)
153Section DF 4 amended (Payments for social rehabilitation)
154Section DQ 2 repealed (Adverse event income equalisation scheme)
155Section DV 12 amended (Maori authorities: donations)
156Section DV 19 amended (Association rebates)
157Section DZ 20 amended (Expenditure incurred while income-earning activity interrupted by Canterbury earthquake)
158Section EC 39 amended (First income year in breeding business)
159New section EC 39B inserted (Stud-founding bloodstock and related terms)
EC 39BStud-founding bloodstock and related terms
160Section EC 39B amended (Stud-founding bloodstock and related terms)
161New section EC 39C inserted (Setting and publication of national minimum price threshold)
EC 39CSetting and publication of national minimum price threshold
162New sections EC 47B to EC 47E inserted
EC 47BRemoval of high-priced bloodstock from New Zealand after earlier deductions
EC 47CWhen prospective breeders treated as being in breeding business
EC 47DChange of prospective bloodstock breeders’ expectation or intention after earlier deductions
EC 47EProspective breeders commencing actual breeding businesses
163Section ED 2B amended (Transfers to shareholders by ASX-listed Australian company of shares in subsidiary)
164Section EE 45 amended (Consideration for purposes of section EE 44)
165Section EE 47 amended (Events for purposes of section EE 44)
166Section EH 1 amended (Income equalisation schemes)
167Section EH 4 amended (Main deposit)
168Section EH 35 amended (Meaning of main maximum deposit)
169Headings and sections EH 37 to EH 62 repealed
170Section EK 2 amended (Persons who may make payment to environmental restoration account)
171Section EK 11 amended (Application for refund)
172Section EK 12 amended (Refund if application or excess balance)
173Section EK 20 amended (Environmental restoration account of consolidated group company)
174Section EK 23 amended (Other definitions)
175Section EW 6 amended (Relationship between financial arrangements and excepted financial arrangements)
176Section EW 14 amended (What spreading methods do)
177Section EW 15E amended (Determination alternatives)
178Section EW 15I amended (Mandatory use of yield to maturity method for some arrangements)
179Section EW 32 amended (Consideration for agreement for sale and purchase (ASAP) of property or services, hire purchase agreement, specified option, or finance lease)
180New section EW 33D inserted (Foreign ASAPs: contingencies for business combines)
EW 33DForeign ASAPs: contingencies for business combinations
181Section EW 46C amended (Consideration when debt forgiven within economic group)
182Section EX 56 amended (Cost method)
183New section EZ 6B inserted (National minimum price threshold for 2019 calendar year)
EZ 6BNational minimum price threshold for 2019 calendar year
184Section EZ 23B amended (Property acquired after depreciable property affected by Canterbury earthquakes)
185Section EZ 23BB amended (Interest in property acquired after depreciable property affected by Canterbury earthquakes)
186Section EZ 70 amended (Insurance for Canterbury earthquake damage of property: treatment as disposal and reacquisition)
187Section EZ 71 amended (Insurance for Canterbury earthquake damage of property: limit on depreciation recovery income)
188Section EZ 72 amended (Item treated as available for use if access restricted due to Canterbury earthquake)
189Section EZ 73 amended (Insurance for Canterbury earthquake damage causing disposal: optional timing rule for income, deductions)
190Section EZ 74 amended (Insurance for repairs of Canterbury earthquake damage: optional timing rule for income, deductions)
191New heading and new section EZ 80 inserted
EZ 80Transfers of deposits when adverse event income equalisation accounts abolished
192Section FC 2 amended (Transfer at market value)
193Section FE 5 amended (Thresholds for application of interest apportionment rules)
194Section FE 16B amended (Total group non-debt liabilities)
195Section FH 3 amended (Payments under financial instruments producing deduction without income)
196Section FH 4 amended (Receipts under financial instruments producing deduction without income)
197Section FH 5 amended (Payments by New Zealand resident or New Zealand deducting branch producing deduction without income)
198Section FH 10 amended (Expenditure or loss of dual resident company producing double deduction without double income)
199Section FH 12 amended (Offset of mismatch amounts against surplus assessable income)
200Section FH 15 amended (Definitions)
201Section FM 9 amended (Amounts that are company’s income)
202Section FM 15 amended (Amortising property and revenue account property)
203Section FM 40 amended (Losing eligibility to be part of consolidated group)
204Section GB 54 amended (Arrangements involving establishments)
205New heading and new section GB 55 inserted
GB 55Arrangements involving tax credits for charitable or other public benefit gifts
206Section GC 16 amended (Credit rating of borrower: other than insuring or lending person)
207Section GC 17 amended (Credit rating of borrower: insuring or lending person)
208Section HC 10 amended (Complying trusts)
209Section HC 15 amended (Taxable distributions from non-complying and foreign trusts)
210Section HC 16 amended (Ordering rule for distributions from non-complying and foreign trusts)
211Section HC 27 amended (Who is a settlor?)
212Section HC 30 amended (Treatment of foreign trusts when settlor becomes resident)
213Section HC 36 amended (Trusts and minor beneficiary rule)
214Section HC 37 amended (Testamentary trusts and minor beneficiary rule)
215Section HE 3 amended (Association rebates)
216Section HG 11 amended (Limitation on deductions by partners in limited partnerships)
217Section HM 2 amended (What is a portfolio investment entity?)
218Section HM 12 amended (Income types)
219Section HM 28 replaced (When listed PIE no longer meets crediting requirement)
HM 28When listed PIE no longer meets requirements
220Section HR 8 inserted (Transitional residents)
221Cross-heading amended (Financial institution special purposes vehicles)
222Section HR 9 replaced (Financial institution special purpose vehicles are transparent)
HR 9Debt funding special purpose vehicles are transparent if election made by originator
223New section HR 9BA inserted (Elections to treat debt funding special purpose vehicles as transparent)
HR 9BAElections to treat debt funding special purpose vehicles as transparent
224Section HR 9B replaced (Bankruptcy-remote property during application of section HR 9)
HR 9BBankruptcy-remote property during application of section HR 9
225Section HR 10 replaced (What happens when vehicle stops being financial institution special purpose vehicle?)
HR 10What happens when vehicle stops being transparent debt funding special purpose vehicle?
226Section HR 12 amended (Non-exempt charities: treatment of tax-exempt accumulations)
227New sections HZ 9 and HZ 10 inserted
HZ 9Elections to treat existing debt funding special purpose vehicles as transparent
HZ 10What happens when election is made under section HZ 9?
228Section LB 7 amended (Tax credits related to personal service rehabilitation payments: providers)
229Section LD 1 amended (Tax credits for charitable or other public benefit gifts)
230Section LD 3 amended (Meaning of charitable or other public benefit gift)
231Section LD 3 amended (Meaning of charitable or other public benefit gift)
232Section LD 4 amended (Tax credits for payroll donations)
233Section MC 6 amended (When person does not qualify)
234Section MD 3 amended (Calculation of family tax credit)
235Section MD 11 amended (Entitlement to parental tax credit)
236Section MD 11 amended (Entitlement to parental tax credit)
237Section MD 11 amended (Entitlement to parental tax credit)
238Section MD 13 amended (Calculation of family credit abatement)
239Section MF 2 amended (When person not entitled to payment by instalment)
240Section MF 4 amended (Requirements for calculating instalment of tax credit)
241Section MF 7 amended (Orders in Council)
242Section MK 2 amended (Eligibility requirements)
243Section MZ 3 amended (Exclusions from determination of family scheme income)
244Section OP 22 amended (Consolidated ICA group company’s credit)
245Section RA 13 amended (Payment dates for terminal tax)
246Section RB 3 amended (Schedular income tax liability for filing taxpayers for non-resident passive income)
247Section RC 3 amended (Who is required to pay provisional tax?)
248Section RC 5 amended (Methods for calculating provisional tax liability)
249Section RC 9 amended (Provisional tax payable in instalments)
250Section RC 10B amended (Calculating amount of instalment for periods using AIM method)
251Section RD 2 amended (PAYE rules and their application)
252Section RD 5 amended (Salary or wages)
253Section RD 7 amended (Extra pay)
254Section RD 8 amended (Schedular payments)
255New section RD 8B inserted (Treatment of PAYE-related overpayments)
RD 8BTreatment of PAYE-related overpayments
256Section RD 17 amended (Payment of extra pay with other PAYE income payments)
257Section RD 22 amended (Providing employment income information to Commissioner)
258Section RD 35 amended (Employment-related loans: value using market interest rates)
259Section RD 64 amended (ESCT rules and their application)
260Section RE 1 amended (RWT rules and their application)
261Section RF 2B amended (Non-residential financial arrangement income: outline and concepts)
262Section RF 2C amended (Meaning of non-residential financial arrangement income)
263Section RM 2 amended (Refunds for overpaid tax)
264Section RM 2 amended (Refunds for overpaid tax)
265Section RM 4 amended (Overpayment on amended assessment)
266Section RM 5 repealed (Overpayments on income statements)
267Section RM 16 amended (Treatment of amounts not refunded)
268Section RM 22 amended (Limits on refunds for Maori authorities)
269Section RM 25 amended (Treatment of amounts not refunded)
270Section RM 31 amended (Treatment of amounts not refunded)
271Section RP 14 amended (Collection, payment, and information requirements)
272Section RP 17B amended (Tax pooling accounts and their use)
273Section RP 19 amended (Transfers from tax pooling accounts)
274Section RP 19B amended (Transfers for certain expected tax liabilities)
275Section RZ 14 amended (Listed PAYE intermediaries: transitional provision)
276New section RZ 15 inserted (Treatment of certain refunds made on income statements: 1 April 2008 to 31 March 2019)
RZ 15Treatment of certain refunds made on income statements: 1 April 2008 to 31 March 2019
277New section RZ 16 inserted (Treatment of certain refunds not paid within 4-year period: 1 April 2008 to 31 March 2013)
RZ 16Treatment of certain refunds not paid within 4-year period: 1 April 2008 to 31 March 2013
278Section YA 1 amended (Definitions)
279Section YA 2 amended (Meaning of income tax varied)
280Section YC 12 amended (Public unit trusts)
281Section YC 18 amended (Reverse takeovers)
282Section YC 18B amended (Corporate reorganisations not affecting economic ownership)
283Section YC 18C amended (Railways restructure not affecting Crown economic ownership)
284Section YC 19B amended (Treatment when certain trusts terminated)
285Section YD 4 amended (Classes of income treated as having New Zealand source)
286New section YZ 5 inserted (New Zealand Memorial Museum Trust — Le Quesnoy: sunset)
YZ 5New Zealand Memorial Museum Trust — Le Quesnoy: sunset
287New schedules 18B and 18C inserted
288Schedule 19 amended (Expenditure in avoiding, remedying, or mitigating detrimental effects of discharge of contaminant)
289Schedule 28 amended (Requirements for complying fund rules)
290Schedule 29 amended (Portfolio investment entities: listed investors)
291Schedule 32 amended (Recipients of charitable or other public benefit gifts)
292New schedule 35 inserted (Public purpose Crown-controlled companies)
293Consequential amendments
294Goods and Services Tax Act 1985
295Section 2 amended (Interpretation)
296Section 2A amended (Meaning of associated persons)
297Section 5 amended (Meaning of term supply)
298Section 6 amended (Meaning of term taxable activity)
299Section 10 amended (Value of supply of goods and services)
300Section 11 amended (Zero-rating of goods)
301Section 20 amended (Calculation of tax payable)
302Section 20A amended (Goods and services tax incurred relating to determination of liability to tax)
303Section 21 amended (Adjustments for apportioned supplies)
304Section 53 amended (Registered person to notify change of status)
305Section 55 amended (Group of companies)
306New section 88 inserted (Valuation: non-profit body making certain supplies, deregistering, or acquiring certain assets of non-profit body)
88Valuation: non-profit body making certain supplies, deregistering, or acquiring certain assets of non-profit body
307KiwiSaver Act 2006
308Section 4 amended (Interpretation)
309Section 15 amended (Effect of automatic enrolment)
310Section 33 amended (Certain persons may opt in)
311Section 36 amended (Effect of opting in by employees)
312Section 59A amended (When this subpart applies)
313Section 59B amended (Initial back-dated validation)
314Section 64 amended (Contribution rate)
315Section 101C amended (Employee’s requirements)
316Section 101G amended (Rules: providers)
317Section 104 amended (Granting of contributions holiday)
318Section 112B amended (Non-deduction notices)
319New section 241 inserted (Protection from non-compliance: Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019)
241Protection from non-compliance: Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019
320Schedule 1 amended (KiwiSaver scheme rules)
4Withdrawal age
321Amendments to KiwiSaver Act 2006 related to nomenclature changes
322Child Support Act 1991
323Section 35 amended (Adjusted taxable income)
324Section 81 amended (Notification requirement of parents)
325Section 163 amended (Payment of deductions to Commissioner)
326Consequential amendments
327Student Loan Scheme Act 2011
328Section 34 amended (Repayment codes for New Zealand-based borrowers who derive salary or wages)
329Section 35 amended (Borrowers with “SL” repayment code must notify employers)
330Section 36 amended (Employer or PAYE intermediary must make standard deductions from salary or wages)
331Section 57 amended (Consequences of exemption from standard deductions)
332Section 60 amended (When exemption from standard deductions ceases to apply)
333Schedule 2 amended (Application of PAYE rules for purposes of section 70)
334Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018
335Section 6 amended (Section CB 6A (Disposal within 2 years: bright-line test for residential land))
336Section 7 amended (Section CB 16A (Main home exclusion for disposal within 2 years))
337Section 45 amended (Section DB 18A (Ring-fenced allocations: disposal of residential land within 2 years))
338Section 46 amended (Section DB 18AB (Deduction cap: disposal of residential land within 2 years to associated persons))
339Section 93 amended (Section FB 3A (Residential land))
340Section 95 amended (Section FC 9 (Residential land transferred to executor, administrator, or beneficiary on death of person))
341Section 107 amended (Section FO 10 (When property passes on resident’s restricted amalgamation))
342Section 108 amended (Section FO 17 (Land))
343Section 110 amended (Section GB 52 (Arrangements involving residential land: companies’ shares))
344Section 111 amended (Section GB 53 (Arrangements involving residential land: trusts))
345Section 158 amended (Section LD 4 (Tax credits for payroll donations))
346Sections 186, 215, 263, 265, 266, 268, 271, and 283 repealed
347Section 231 amended (Section RL 1 (Residential land withholding tax))
348Section 240 amended (Section RP 14 (Collection, payment, and information requirements))
349Section 243 amended (Section YA 1 (Definitions))
350Section 261 amended (Section 3 (Interpretation))
351Section 267 amended (Section 15L (Amended monthly schedules))
352Section 285 amended (Section 25A (Use of inconsistent RWT rates))
353Section 321 amended (Section 54C (Information in relation to payment of RLWT))
354Schedule 2 amended (Consequential amendments to other enactments related to tax administration)
355Section 35 amended (New subpart FH inserted)
356Families Package (Income Tax and Benefits) Act 2017
357Section 2 amended (Commencement)
358Sections 48 to 51 and 57 repealed
359Income Tax Act 2004
360Section KD 2AB amended (Parental tax credit)
361Section KD 2AB amended (Parental tax credit)
362Section MD 1 amended (Refund of excess tax)
363New section MD 1B inserted (Treatment of certain refunds made on income statements: 2005–06, 2006–07, and 2007–08 income years)
MD 1BTreatment of certain refunds made on income statements: 2005–06, 2006–07, and 2007–08 income years
364New section MD 1C inserted (Treatment of certain refunds not paid within 4-year period: 2005–06, 2006–07, and 2007–08 income years)
MD 1CTreatment of certain refunds not paid within 4-year period: 2005–06, 2006–07, and 2007–08 income years
365Schedule 4 amended (Deductions on account of earner levies)
366Section 135 amended (Meaning of restricted information)
367Section 5 amended (Interpretation)
368Section 4 amended (Interpretation)
369Section KD 2AB amended (Parental tax credit)
370Section MD 1 amended (Refund of excess tax)
371New section MD 1B inserted (Treatment of certain refunds made on income statements: 2000–01, 2001–02, 2002–03, and 2003–04 income years)
MD 1BTreatment of certain refunds made on income statements: 2000–01, 2001–02, 2002–03, and 2003–04 income years
372Section 12 amended (Officers to maintain secrecy)
373Regulation 36 amended (Reports of decisions)
374Tax Administration (Binding Rulings) Regulations 1999
375Regulation 2 amended (Interpretation)
376Regulation 3 amended (Fees)
377Regulation 5 amended (Indication of time for issue of ruling in certain cases)
378Regulation 6 amended (Waiver of fees)
Reprint notes

The Parliament of New Zealand enacts as follows: