Income Tax Act 2007

CW 46 Bodies promoting amateur games and sports

An amount of income derived by a club, society, association, or trustee or trustees of a trust (the promoter) is exempt income if—

(a)

the promoter is established mainly to promote an amateur game or sport; and

(b)

the game or sport is conducted for the recreation or entertainment of the general public; and

(c)

no part of the funds of the promoter is used or is available to be used for the private pecuniary profit of a member, proprietor, shareholder, beneficiary, or associate of any of them.

Defined in this Act: amount, associated person, beneficiary, exempt income, income, trustee

Compare: 2004 No 35 s CW 39

Section CW 46: amended (with effect on 1 April 2010 and applying for the 2010–11 and later income years), on 30 June 2014, by section 33(1) of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 (2014 No 39).

Section CW 46(a): amended (with effect on 1 April 2010 and applying for the 2010–11 and later income years), on 30 June 2014, by section 33(2) of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 (2014 No 39).

Section CW 46(c): amended (with effect on 1 April 2010 and applying for the 2010–11 and later income years), on 30 June 2014, by section 33(3)(a) of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 (2014 No 39).

Section CW 46(c): amended (with effect on 1 April 2010 and applying for the 2010–11 and later income years), on 30 June 2014, by section 33(3)(b) of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 (2014 No 39).

Section CW 46 list of defined terms beneficiary: inserted (with effect on 1 April 2010 and applying for the 2010–11 and later income years), on 30 June 2014, by section 33(4) of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 (2014 No 39).

Section CW 46 list of defined terms trustee: inserted (with effect on 1 April 2010 and applying for the 2010–11 and later income years), on 30 June 2014, by section 33(4) of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 (2014 No 39).