Income Tax (Payroll Subsidy) Regulations 2006

  • revoked
  • Income Tax (Payroll Subsidy) Regulations 2006: revoked, on 1 April 2020, by section 420 of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).

Reprint as at 1 April 2020

Coat of Arms of New Zealand

Income Tax (Payroll Subsidy) Regulations 2006

(SR 2006/159)

Income Tax (Payroll Subsidy) Regulations 2006: revoked, on 1 April 2020, by section 420 of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).

Dame Sian Elias, Administrator of the Government

Order in Council

At Wellington this 19th day of June 2006

Present:
The Hon Dr Michael Cullen presiding in Council

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.

These regulations are administered by the Inland Revenue Department.

Pursuant to section NBB 6(6) of the Income Tax Act 2004, Her Excellency the Administrator of the Government, acting on the advice and with the consent of the Executive Council, makes the following regulations.

Regulations

1 Title

These regulations are the Income Tax (Payroll Subsidy) Regulations 2006.

2 Commencement

These regulations come into force on 1 October 2006.

3 Interpretation

In these regulations, unless the context otherwise requires,—

arrangement means an arrangement under subpart NBA of Part N of the Income Tax Act 2004

source deduction payment, in relation to an employee, has the meaning given to it by section OB 2 of the Income Tax Act 2004.

4 Amount of payroll subsidy

The amount of the subsidy to be paid to a listed PAYE intermediary under section NBB 6 of the Income Tax Act 2004 in respect of each employer who contracts the services of the listed PAYE intermediary must be calculated using the following formula:

a = $2 × b × c

where—

  • a

    is the amount of the subsidy to be paid to the listed PAYE intermediary in respect of each employer who, in the period for which the subsidy is claimed, contracts the services of the listed PAYE intermediary

  • b

    is the number of employees of the employer to whom the arrangement with the listed PAYE intermediary applies in the period for which the subsidy is claimed or, if there are more than 5, up to a maximum of 5 of those employees who are nominated by the listed PAYE intermediary

  • c

    is the number of source deduction payments made in the period for which the subsidy is claimed in respect of the employees who make up the number of employees referred to in item b.

Diane Morcom,
Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on 1 October 2006, provide for the calculation of the payroll subsidy to be paid to listed PAYE intermediaries under section NBB 6 of the Income Tax Act 2004. Subpart NBB of the Act prescribes the requirements that must be met before the subsidy is payable, for example, the employer must be one to whom section NC 15(1)(c) or (d) applies and the PAYE intermediary must meet certain obligations.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 22 June 2006.

Reprints notes
1 General

This is a reprint of the Income Tax (Payroll Subsidy) Regulations 2006 that incorporates all the amendments to those regulations as at the date of the last amendment to them.

2 Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes

Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.

4 Amendments incorporated in this reprint

Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5): section 420