Income Tax Act 2007

12 month ASAP—

1973 version provisions [Repealed]

1988 version provisions [Repealed]

1990 version provisions [Repealed]

abating WFF tax credit is defined in section MA 8 (Some definitions for family scheme) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

absentee—

absolute value means the value irrespective of whether the value’s sign is positive or negative

ACC means the Accident Compensation Corporation continued by section 259 of the Accident Compensation Act 2001

ACC levy or premium is defined in section EF 3(5) (Accident compensation levies and premiums) for the purposes of that section

acceptable property is defined in section GB 45(3) (Arrangements involving money not at risk) for the purposes of that section

accident compensation earnings-related payment means a payment included in salary or wages of the following kinds and under the following Acts:

accident compensation payment is defined in section CF 1(2) (Benefits, pensions, compensation, and government grants) for the purposes of that section

accident compensation payment for attendant care [Repealed]

accident insurance contract is defined in section CW 34(2) (Compensation payments) for the purposes of that section

accommodation,—

account advantage—

accounting period, for a foreign company, means—

accounting profits method [Repealed]

accounting year,—

accrual accounting method is defined in section EG 2(4) (Adjustment for changes to accounting practice) for the purposes of that section

accrued entitlement, for a party to a financial arrangement at any time, means the party’s rights under the arrangement at the time

accrued obligation, for a party to a financial arrangement at any time, means the party’s obligations under the arrangement at the time

acquire, for depreciable property, includes—

acquisition is defined in section GC 14 (Definitions for sections GC 6 to GC 13) for the purposes of sections GC 6 to GC 13 (which relate to transfer pricing arrangements)

acquisition price is defined in section EZ 48 (Definitions) for the purposes of the old financial arrangements rules

active service area is defined in section CW 24(2) (Deferred military pay for active service) for the purposes of that section

act together is defined in section FH 15(1) (Definitions)

actuarial reserves is defined in section EZ 59 (Meaning of actuarial reserves)

actuarially determined, for an amount, means a requirement that is met when an actuary has calculated the amount using relevant actuarial standards and a proper and reasonable calculation methodology

actuary means a person who is—

additional transport costs is defined in section CW 18(3) (Allowance for additional transport costs) for the purposes of that section

adjusted tax value—

adverse event deposit [Repealed]

adverse event income equalisation account [Repealed]

adverse event income equalisation scheme [Repealed]

adverse event maximum deposit [Repealed]

affected associate is defined in section GB 48(1) (Defined terms for sections GB 45 and GB 46) for the purposes of sections GB 45 and GB 46 (which relate to arrangements involving money not at risk)

after-income tax earnings [Repealed]

after-income tax loss [Repealed]

agent means a person declared by this Act to be an agent for the purposes of income tax

agreement for the sale and purchase of property is defined in section EZ 48 (Definitions) for the purposes of the old financial arrangements rules

agreement for the sale and purchase of property or services—

agricultural, horticultural, or viticultural company means a company that carries on a business that comprises or includes performing any work or rendering a service set out in schedule 4, part C, clause 1(b) (Standard rates of tax for schedular payments)

AIM-capable accounting system is defined in section RC 7B (AIM method)

air transport from New Zealand is defined in section CW 56(3) (Non-resident aircraft operators) for the purposes of that section

air transport to New Zealand is defined in section CW 56(3) (Non-resident aircraft operators) for the purposes of that section

aircraft engine means—

aircraft engine overhaul—

airport is defined in section HR 7(2) (Meaning of airport operator’s activities) for the purposes of that section

airport asset is defined in section HR 6(7) (Airport operator’s assets) for the purposes of that section

airport authority is defined in section 2 of the Airport Authorities Act 1966

airport operator means the Crown, acting by and through the Minister of Transport, and any local authority that is an airport authority, in their respective capacities as joint venturers under a joint venture agreement

airport operator’s activities is defined in section HR 7 (Meaning of airport operator’s activities) for the purposes of sections HR 5 and HR 6 (which relate to airport operators)

amalgamated company means—

amalgamating company means—

amalgamation means—

amalgamation rules means the provisions listed in section FO 2 (Amalgamation rules)

amortising property means property for which a person—

amount—

amount of all consideration is defined in section EZ 48 (Definitions) for the purposes of the old financial arrangements rules

amount of tax, for a payment, includes the amount of tax that must be withheld and paid, or paid to the Commissioner under the PAYE rules, ESCT rules, RSCT rules, RLWT rules, RWT rules, or NRWT rules

ancillary tax means—

annual branch equivalent tax account return means the return to be filed with the Commissioner under section 78 of the Tax Administration Act 1994

annual FDPA return [Repealed]

annual gross income is defined in section BC 2 (Annual gross income)

annual ICA return means the return to be filed with the Commissioner by a company under section 69 of the Tax Administration Act 1994

annual income tax balance date is defined in section EG 1(10) (Election to use balance date used in foreign country) for the purposes of that section

annual PCA return [Repealed]

annual rate is defined in section EE 61 (Meaning of annual rate)

annual rates means the rates of income tax fixed for a tax year by the annual taxing Act for that year

annual taxing Act means the provisions of any Act by which the rates of income tax are fixed for a tax year

annual total deduction is defined in section BC 3 (Annual total deduction)

apply, for a mode of communication, has the meaning set out in section 14C of the Tax Administration Act 1994

approved AIM provider means a person that the Commissioner has approved as an approved AIM provider under section 15U of the Tax Administration Act 1994, if the approval has not been revoked under section 15V of that Act

approved issuer means a person for whom an approval under section 32M of the Tax Administration Act 1994 is in force

approved research and development cap is defined in section 3(1) of the Tax Administration Act 1994

approved research provider is defined in section 3(1) of the Tax Administration Act 1994

arm’s length amount, for an arrangement that is a cross-border arrangement under section GC 6 (Purpose and application of rules and nature of arrangements) means an arm’s length amount of consideration under section GC 13 (Calculation of arm’s length amounts)

arrangement means an agreement, contract, plan, or understanding, whether enforceable or unenforceable, including all steps and transactions by which it is carried into effect

arrangement for assistance entered into by the government of New Zealand is defined in section CW 22(3) (Amounts derived by overseas experts and trainees in New Zealand by government arrangement) for the purposes of that section

arrangement property is defined in section GB 45(3) (Arrangements involving money not at risk) for the purposes of that section

ASC has the same meaning as available subscribed capital

ASC account means a memorandum account established by an ASC account company under section OF 1(2) (General rules for companies with ASC accounts)

ASC account company means a company that chooses under section OF 1(1) and OF 3 (which relate to ASCA companies) to become an ASCA company

ASC credit means a credit referred to in section OA 5(6) (Credits)

ASC debit means a debit referred to in section OA 6(6) (Debits)

ASCA means available subscribed capital account

ask, for a mode of communication, has the meaning set out in section 14B of the Tax Administration Act 1994

assessable income is defined in section BD 1(5) (Income, exempt income, excluded income, non-residents’ foreign-sourced income, and assessable income)

assessment is defined in section 3(1) of the Tax Administration Act 1994

assessment period is defined in section GB 45(3) (Arrangements involving money not at risk) for the purposes of that section

asset—

asset base, for a class of life insurance policy, means a segregated or identifiable group, or proportion of a group, of assets attributable to the class

asset value is defined in section DG 11(8) (Interest expenditure: close companies) for the purposes of subpart DG (Expenditure related to use of certain assets)

associated, associated person, person associated, and other expressions indicating the association of persons with each other are defined in sections YB 1 to YB 16 (which relate to associated persons)

associated internal software developer [Repealed]

associated mining operations is defined in section CU 7(2) (Some definitions)

associated non-attributing active CFC, for a CFC, means a person who is associated with the CFC under section YB 2 (Two companies) if the person and the CFC meet the following requirements:

association, in subpart HE (Mutual associations), and sections CB 33, CB 34, and DV 19, (which relate to mutual associations), means a body or association of persons, whether incorporated or not

association rebate is defined in section HE 3 (Association rebates) for the purposes of subpart HE (Mutual associations) and sections CB 34 and DV 19 (which relate to mutual associations)

ASX-listed Australian company is defined in section ED 2B(8) (Transfers to shareholders by ASX-listed Australian company of shares in subsidiary)

attributable CFC amount is defined in section EX 20B (Attributable CFC amount)

attributable FIF income method means the method of calculating FIF income or FIF loss in section EX 50 (Attributable FIF income method)

attributed CFC income is defined in section CQ 2 (When attributed CFC income arises)

attributed CFC loss is defined in section DN 2 (When attributed CFC loss arises)

attributed CFC net loss, for a person and for an income year in which they have an attributed CFC loss, means the part of the loss that the person is denied as a deduction because of section DN 4 (Ring-fencing cap on deduction), but must instead deal with under Part I (Treatment of tax losses)

attributed PIE income means an amount of income attributed by a multi-rate PIE to an investor in the PIE under section HM 36 (Calculating amounts attributed to investors)

attributed PIE loss means an amount of loss attributed by a multi-rate PIE to an investor in the PIE under section HM 36 (Calculating amounts attributed to investors)

attributed repatriation [Repealed]

attributing interest means an attributing interest in a foreign investment fund as defined in sections EX 29 to EX 43 (which relate to attributing interests in FIFs)

attribution period, for a multi-rate PIE, means a period described in section HM 34 (Attribution periods)

Australian approved deposit fund means an approved deposit fund as defined in section 10 of the Superannuation Industry (Supervision) Act 1993 (Aust)

Australian complying superannuation scheme means an entity that is a complying superannuation fund for the purposes of Part 5, Division 2 of the Superannuation Industry (Supervision) Act 1993 (Aust) and that is regulated by the Australian Prudential Regulation Authority

Australian exempt public sector superannuation scheme means an exempt public sector superannuation scheme as defined in section 10 of the Superannuation Industry (Supervision) Act 1993 (Aust)

Australian financial year is defined in section CV 8(3) (Regulations: Australian wine producer rebate) for the purposes of that section

Australian ICA company is a company that must establish and maintain an imputation credit account because of an election under section OB 2 (Australian companies choosing to have imputation credit accounts)

Australian non-attributing shares is defined in section EM 8 (Some definitions) for the purposes of subpart EM (Hedging of currency movements in Australian non-attributing shares and attributing FDR method interests)

Australian regulated superannuation fund means a regulated superannuation fund as defined in section 19 of the Superannuation Industry (Supervision) Act 1993 (Aust)

Australian retirement savings account means a retirement savings account as defined in section 8 of the Retirement Savings Accounts Act 1997 (Aust)

Australian wine producer rebate means a producer rebate (under A New Tax System (Wine Equalisation Tax) Act 1999 (Aust) and regulations made under that Act) that relates to wine exported from New Zealand on or after 1 July 2005

author is defined in section EI 3(6) (Assigning or granting copyright) for the purposes of that section

authorised investment is defined in section HR 3 (definitions for section HR 2: group investment funds) for the purposes of that section

authorised savings institution [Repealed]

available capital distribution amount means the amount calculated for a share in a company under section CD 44 (Available capital distribution amount)

available subscribed capital means the amount calculated for a share in a company under section CD 43 (Available subscribed capital (ASC) amount)

available tax loss, for a person and their net income, means—

balance date, for the purposes of sections FG 3 (Notional interest) and RC 10 (Calculating amount of instalment under standard and estimation methods) and subpart RC (Provisional tax), section RP 17B (Tax pooling accounts and their use), and schedule 3 (Payment of provisional tax and terminal tax) means the date of the annual balance of a person’s financial statements for their tax year

balloted loan right is defined in section DV 10(3) (Building societies) for the purposes of that section

banking company means a person carrying on in New Zealand the business of banking

base amount is defined in section RC 8(2) (GST ratio method) for the purposes of that section

base premium for the 1998–99 premium year is defined in section EZ 30(3) (Base premium for 1998–99 premium year under Accident Insurance Act 1998) for the purposes of that section

basic tax rate, for a person,—

benchmark distribution means the first taxable Maori authority distribution by a Maori authority in a tax year

benchmark dividend, means the first dividend paid by a company in a tax year that is not 1 of the following kinds:

beneficial interest includes an interest that is contingent, discretionary or unvested

beneficiary is defined in section DX 1(5) (Testamentary annuities) for the purposes of that section

beneficiary income is defined in section HC 6 (Beneficiary income)

benefit [Repealed] 

benefit fund PIE means a defined benefit fund that—

best estimate assumptions means assumptions about the future that—

Best Start credit abatement is defined in section MA 8 (Some definitions for family scheme) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

Best Start tax credit is defined in section MA 8 (Some definitions for family scheme) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

BETA has the same meaning as branch equivalent tax account

BETA company [Repealed]

BETA person means a person who chooses under sections OE 1(2) and OE 17 (which relate to persons with branch equivalent tax accounts) to become a BETA person

binding ruling is defined in section 3 of the Tax Administration Act 1994

bloodstock—

bonus issue means—

bonus issue in lieu means a bonus issue made, on or after 1 October 1988, under an arrangement conferring on shareholders of a company an election whether to receive—

boutique investor class, for a portfolio investment entity, means an investor class of the entity if—

branch equivalent company [Repealed]

branch equivalent income, for a foreign company and for an accounting period, means the amount of income for the accounting period calculated under section EX 21 (Branch equivalent income or loss: calculation rules) as that provision read immediately before being amended by section 161 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009

branch equivalent loss, for a foreign company and for an accounting period, means the amount of loss for the accounting period calculated under section EX 21 (Branch equivalent income or loss: calculation rules) as that provision read immediately before being amended by section 161 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009

branch equivalent method means the method of calculating FIF income or FIF loss in section EX 50 (Branch equivalent method) as that provision read immediately before being amended by section 35 of the Taxation (International Investment and Remedial Matters) Act 2012

branch equivalent tax account means the account maintained by a BETA person under section OE 17(3) (Person choosing to become BETA person)

branch equivalent tax credit means a credit referred to in section OA 5(5) (Credits)

branch equivalent tax debit means a debit referred to in section OA 6(5) (Debits)

branch mismatch report is defined in section FH 15(1) (Definitions)

bribe is defined in section DB 45(4) (Bribes) for the purposes of that section

bright-line date means, for a disposal of residential land,—

bright-line grandparented home means, for a person, the 1 dwelling—

bright-line period means, for a person and residential land, the period beginning with the relevant date described in, as applicable—

broodmare means a broodmare that is bloodstock

building [Repealed]

building society is defined in section 2 of the Building Societies Act 1965

business—

business contacts is defined in section DD 11 (Some definitions) for the purposes of subpart DD (Entertainment expenditure)

business premises is defined in section DD 11 (Some definitions) for the purposes of subpart DD (Entertainment expenditure) and the land sales provisions

business tool means an item that is used by an employee in the performance of their work duties and in the absence of section CX 21 (Business tools) would give rise to an unclassified benefit

business use, for a motor vehicle and for a person, means travel undertaken by the vehicle wholly in deriving the person’s income

calculation method, for the calculation of FIF income or FIF loss, means any of the attributable FIF income method, the comparative value method, the deemed rate of return method, the fair dividend rate method, and the cost method

calculation period, for a multi-rate PIE, means a period in which the entity calculates an amount under section HM 47 (Calculation of tax liability or tax credit of multi-rate PIEs) that—

cancellation, for a company and for a share, means the acquisition, redemption, or other cancellation of the whole share by the company, including on the liquidation of a company, and when a stapled debt security ceases to be a share

Canterbury earthquakes is defined in section CZ 29(5) (Accommodation expenditure: Canterbury earthquake relief) for the purposes of that section

capital contribution—

capital contribution property means, for a recipient of an amount,—

capital limitation is defined in section DA 2(1) (General limitations)

capital property is defined in section CD 44(18) (Available capital distribution amount) for the purposes of that section

car,—

cash accounting method is defined in section EG 2(4) (Adjustment for changes to accounting practice) for the purposes of that section

cash basis person is defined in section EW 54 (Meaning of cash basis person)

casual agricultural employee means—

casual agricultural worker means a person engaged on a day to day basis for a period of no more than 3 months as a casual seasonal worker for the exclusive purpose of doing seasonal agricultural, horticultural, market gardening, nursery, orchard, or tobacco farming work, or other seasonal work that, in the opinion of the Commissioner, is work of a like nature to those classes of work

category A income is defined in section HR 3(1) (Definitions for section HR 2: group investment funds) for the purposes of section HR 2 (Group investment funds)

category B income is defined in section HR 3(3) (Definitions for section HR 2: group investment funds) for the purposes of section HR 2 (Group investment funds)

CFC has the same meaning as controlled foreign company

charitable or other public benefit gift is defined in section LD 3 (Meaning of charitable or other public benefit gift)

charitable organisation—

charitable purpose includes every charitable purpose, whether it relates to the relief of poverty, the advancement of education or religion, or any other matter beneficial to the community, and—

charitable trust is defined in section HC 13 (Charitable trusts) for the purposes of the trust rules

chief executive is defined in section MA 8 (Some definitions for family scheme) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

chief executive of the administering department—

child in subparts MA to MG and MZ (which relate to tax credits for families), and in the definition of dependent child, means a person who is not in a marriage, civil union, or de facto relationship, and who—

child tax credit is defined in section MA 8 (Some definitions for family scheme) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

civil union partner, in subparts MA to MG and MZ (which relate to tax credits for families) and in section LC 13 (Tax credits for independent earners) and in the definitions of entitlement period, full-time earner, and separated person, does not include a separated person

claim, in the rules for life insurers, is defined in section EY 7 (Meaning of claim)

claim of right means a belief that an act is lawful, although the belief may be based on ignorance, or mistake, of—

class, in subpart EC (Valuation of livestock), and in sections EZ 4 and EZ 4B (which are terminating provisions relating to livestock), and in the definition of national average market value,—

class closing animal balance is defined in section EC 8(4) (Restrictions arising from use of herd scheme) for the purposes of that section

class of policies means life insurance policies that have substantially the same terms and conditions, and that are priced by the life insurer using substantially the same assumptions

close company—

close of trading spot exchange rate, for any foreign currency on any day, means the rate determined by applying the following paragraphs in order:

close relative,—

closely-held company means, at any time, a company to which 1 of the following applies:

closing stock, for a person and for an income year, means trading stock of the person at the end of the income year

combined imputation and CTR ratio [Repealed]

combined imputation and FDP ratio [Repealed]

combined tax and earner-related payment means, for a PAYE income payment, the total of—

commencement of this Act, in sections ZA 3 (Transitional provisions), ZA 4 (Saving of binding rulings), ZA 5 (Saving of accrual determinations), and ZA 6 (Comparative tables of old and new provisions), means commencement under section A 2(2) (Commencement)

commercial bill—

commercial building means a building that is not, in part or in whole, a dwelling, unless use as a dwelling is a secondary and minor use

commercial fit-out means an item to the extent to which it is—

commercial production—

Commissioner means the Commissioner of Inland Revenue as defined in section 3 of the Tax Administration Act 1994

common interest is defined in section YC 13(4) (Corporate spin-outs) for the purposes of that section

common market value interest—

common span is defined in section IP 2(1) (Group companies’ common span) for the purposes of subpart IP (Meeting requirements for part-years)

common voting interest—

commonality period is defined in section IC 6(1) (Common ownership for period) for the purposes of Part I (Treatment of tax losses)

Commonwealth—

community housing entity is defined in section CW 42B (Community housing trusts and companies)

community trust is defined in section 4 of the Community Trusts Act 1999

company—

company dividend statement means a statement required by section 25G of the Tax Administration Act 1994 to be completed and retained by a company for a dividend

comparative value method means the method of calculating FIF income or FIF loss in section EX 51 (Comparative value method)

compensation [Repealed]

completed, for a film, means the completion of the film to—

complying fund calculation period [Repealed]

complying fund rules means, for a superannuation fund and an employee’s superannuation accumulation, rules that—

complying superannuation fund has the same meaning as in section 6(1) of the Financial Markets Conduct Act 2013

complying trust is defined in section HC 10 (Complying trusts)

compulsory employer contribution has the same meaning as in the KiwiSaver Act 2006

conduct [Repealed]

conduit company [Repealed]

consideration—

consolidated BETA group [Repealed]

consolidated FDP group [Repealed]

consolidated group means, at any time, a consolidated group formed under section FM 35 (Forming consolidated group) as it is constituted at that time

consolidated imputation group means—

consolidation rules means the provisions listed in section FM 2(2) (Consolidation rules)

contaminant means a contaminant as defined in section 2(1) of the Resource Management Act 1991

continental shelf is defined in the Continental Shelf Act 1964

continuity period—

continuity provisions means—

contract activity or service, for a non-resident contractor, means—

contract of employment is defined in section DC 3B(3) (Payments to working owners) for the purposes of that section and the definition of working owner

contract of service is defined in section DC 4(5) (Payments to working partners) for the purposes of that section

contract payment, for a non-resident contractor, means any payment other than—

contractor labour means, for the purposes of schedule 21B, expenditure by a person’s contractor on the salary and wages of the contractor’s employees

contractor R&D consideration is defined in section MX 3(5) (Wage intensity criteria)

contribution, in the FBT rules, means a contribution made—

control [Repealed]

control group is defined in section FH 15(1) (Definitions)

control interest, for a foreign company, is defined in sections EX 2 (Four categories for calculating control interests) and EX 7 (Indirect control interests)

control interest category means 1 of the categories of control interest listed in section EX 2(2) (Four categories for calculating control interests)

controlled foreign company is defined in section EX 1 (Meaning of controlled foreign company)

controlled petroleum mining company means a company that is a petroleum miner if—

controlled petroleum mining entity means—

controlled petroleum mining holding company means a company if—

controlled petroleum mining holding trust means a trust that is a petroleum miner if—

controlled petroleum mining trust means a trust that is a petroleum miner if—

controlling shareholder is defined in section HD 15(9) (Asset stripping of companies) for the purposes of that section

convert, for a New Zealand emissions unit, means convert as defined in regulations made under section 30G of the Climate Change Response Act 2002

convertible credit [Repealed]

convertible note means a document or a combination of documents that—

conveyancer means,—

co-operative company does not include a statutory producer board

copyright in a sound recording means the copyright in the version of the recording of which copies have been sold or offered for sale to the public

core acquisition price is defined in section EZ 48 (Definitions) for the purposes of the old financial arrangements rules

core research and development activity is defined in section LY 2 (Key terms)

core technology means technology which is used as a basis for research or development

corpus is defined in section HC 4 (Corpus of trust)

corresponding income year, for a tax year, means an income year that ends in the period starting on 1 October in the tax year and ending on 30 September immediately after the tax year

cost,—

cost method means a method of calculating FIF income or FIF loss under section EX 56 (Cost method)

cost of timber, in sections DP 11, EJ 1, EW 2, EZ 44, FB 6, and FB 7 (which relate to the disposal of timber),—

cost price,—

council-controlled organisation—

counted associate is defined in section CD 22(9) (Returns of capital: off-market share cancellations) for the purposes of that section

country-by-country report is the report that must be provided to the Commissioner under section 78G of the Tax Administration Act 1994

cover review period is defined in section EY 30 (Transitional adjustments: life risk)

COVID-19 New Zealanders Stranded Overseas Support Programme means the welfare programme of that name approved and established under section 101 of the Social Security Act 2018 on 17 April 2020

credit account continuity provisions means section OB 41 (ICA debit for loss of shareholder continuity)

credit card repayment insurance is defined in section EY 30 (Transitional adjustments: life risk)

credit of tax has the same meaning as tax credit

credit transfer notice means a credit transfer notice issued under section 30C of the Tax Administration Act 1994

creditable membership, for a person,—

creditor workout, in relation to a financial arrangement, means—

cross-border related borrowing is defined in section GC 6(3B) (Purpose and application of rules and nature of arrangements)

Crown Research Institute is defined in section 2 of the Crown Research Institutes Act 1992

CTR [Repealed]

CTR account [Repealed]

CTR additional dividend [Repealed]

CTR company [Repealed]

CTR credit [Repealed]

CTR debit [Repealed]

CTR group member [Repealed]

CTR holding company [Repealed]

CTR ratio [Repealed]

CTRA [Repealed]

current accounting year [Repealed]

current market value is defined in section HR 12 (Non-exempt charities: treatment of tax-exempt accumulations) for the purposes of that section

current value is defined in section HR 3(4) (Definitions for section HR 2: group investment funds) for the purposes of section HR 2 (Group investment funds)

custodial institution is defined in section RE 10C(6) (Obligations of custodial institutions in relation to certain payments of investment income) for the purposes of that section and sections RE 4 and RF 4

date of acquisition is defined in section CB 6A (Disposal within 5 years: bright-line test for residential land) for the purposes of that section, section CB 16A (Main home exclusion for disposal within 5 years), and section 54C of the Tax Administration Act 1994

date of transfer, in subpart FB (Transfers of relationship property), and in the definitions of year of transfer, for property transferred under a relationship agreement, means the date on which the property was transferred

date the deposit ends—

day is defined in section RD 30(2) (Private use of motor vehicle: 24-hour period) for the purposes of section RD 29 (Private use of motor vehicle: formulas)

day of final decision means the later of—

de facto partner means a person who is party to a de facto relationship

debenture includes debenture stock

debenture holder includes the owner of debenture stock

debt funding special purpose vehicle means a company or a trustee of a trust that, ignoring section HR 9 (Debt funding special purpose vehicles are transparent if election made by originator),—

debt security is defined in section FA 2B(4) (Stapled debt securities)

debt value is defined in section DG 11(9) (Interest expenditure: close companies) for the purposes of subpart DG (Expenditure related to use of certain assets)

decommissioning, for a petroleum miner or farm-in party, means—

deductible foreign equity distribution means a distribution by a foreign company to a company, in relation to a share in the foreign company,—

deductible output tax, in sections DB 2 (Goods and services tax) and EE 54 (Cost: GST) the sum of the following amounts, as applicable:

deducting branch is defined in section FH 15(1) (Definitions)

deduction, for a person, means a deduction of the person under section BD 2 (Deductions)

deemed rate of return method means the method of calculating FIF income or FIF loss in section EX 55 (Deemed rate of return method)

deferred military pay is defined in section CW 24(2) (Deferred military pay for active service) for the purposes of that section

defined benefit fund means a superannuation scheme or workplace savings scheme (within the meaning of section 6(1) of the Financial Markets Conduct Act 2013) that operates on the principle of unallocated funding

dependent child, for a child and a person,—

deposit—

depreciable intangible property is defined in section EE 62 (Meaning of depreciable intangible property)

depreciable property is defined in sections EE 6 (What is depreciable property?) and EE 7 (What is not depreciable property?)

depreciation loss—

depreciation method is defined in section EE 12 (Depreciation methods)

depreciation percentage means a percentage set by the Commissioner under section EC 33 (Determining depreciation percentages)

depreciation recovery income—

derivative instrument means a derivative as defined in NZIAS 39

derived from New Zealand [Repealed]

descendant is defined in section EC 4B(7) (Compulsory use of herd scheme method for associated persons) for the purposes of that section

descended associate is defined in section EC 4B(7) (Compulsory use of herd scheme method for associated persons) for the purposes of that section

design registration means a registration of a design under the Designs Act 1953, and includes a similar registration and protection of a design under the laws of a country or territory other than New Zealand

design registration application means an application for a design registration

designated group investment fund is defined in section HR 3(6) (Definitions for section HR 2: group investment funds) for the purposes of section HR 2 (Group investment funds)

designated source investments is defined in section HR 3(7) (Definitions for section HR 2: group investment funds) for the purposes of section HR 2 (Group investment funds)

designated sources is defined in section HR 3(5) (Definitions for section HR 2: group investment funds) for the purposes of section HR 2 (Group investment funds)

detached tax credit is defined in section LB 3(8) (Tax credits for resident withholding tax) for the purposes of that section and sections HC 6 and RE 2 (which relate to RWT substitution payments)

development is defined in section DB 35 (Some definitions) for the purposes of that section, section DB 34, and subpart MX (which relate to research and development)

development investments [Repealed]

diminished value, for an income year, means the value established by subtracting from the amount of expenditure described in sections DO 4 and DO 5, DO 12, or DP 3 (which relate to certain businesses on land) the following amounts:

diminishing value equivalent is defined in section EC 34(4) (General rule) for the purposes of that section

diminishing value method, for depreciation, is defined in section EE 67 (Other definitions)

diminishing value rate is defined in section EE 67 (Other definitions)

direct control interest is defined in section EX 5 (Direct control interests)

direct income interest—

direct market value circumstance means a market value circumstance for a company other than a market value circumstance described in paragraph (g) of the definition of market value circumstance

direct market value interest means a market value interest of a person in a company other than a market value interest of the person in the company to the extent to which it is treated as arising only under section YC 4(5) (Look-through rule for corporate shareholders)

direct voting interest means a voting interest of a person in a company other than a voting interest of the person in the company to the extent to which it is treated as arising only under section YC 4(2) (Look-through rule for corporate shareholders)

director—

disabled workshop payment is defined in section CW 33(2) (Allowances and benefits) for the purposes of that section

discontinuance profit means the amount calculated by a life insurer following the steps in section EY 36 (Discontinuance profit for income year)

discontinuance profit formula means the formula in section EY 37 (Discontinuance profit formula (existing policies)) or the formula in section EY 38 (Discontinuance profit formula (new policies))

discount payment date is defined in section EZ 30(3) (Base premium for 1998–99 premium year under Accident Insurance Act 1998) for the purposes of that section

dispose,—

disposition of property in the trust rules, and in the definition of superannuation contribution, but not for a unit trust,—

distant workplace is defined in section CW 16B(5) (Accommodation expenditure: out-of-town secondments and projects)

distinctive work clothing is defined in section CX 30(2) (Distinctive work clothing) for the purposes of sections CX 30 and CW 17CC (Payments for distinctive work clothing)

distribution is defined in section HC 14 (Distributions from trusts) for the purposes of the trust rules

district health board [Repealed]

dividend—

dividend treated as interest means a dividend that is paid in relation to a share issued by a company that is at the time of payment—

donee organisation means an entity described in section LD 3(2) (Meaning of charitable or other public benefit gift) or listed in schedule 32 (Recipients of charitable or other public benefit gifts)

double tax agreement is defined in section BH 1 (Double tax agreements)

dwelling—

early balance date has the meaning given in section YE 1(6) (References to balance dates and years)

early life regime application day means, for a life insurer that chooses to apply the amendments to the rules for life insurers made by the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009, for an income year that includes 1 July 2010, the first day of that income year

early-payment discount is defined in section RC 40 (Some definitions) for the purposes of sections RC 37 to RC 39 (which relate to discounts of income tax)

earner is defined in section MA 7 (Meaning of full-time earner and earner for family scheme) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

economic rate is defined in section EE 67 (Other definitions)

education grant is defined in section CF 1(2) (Benefits, pensions, compensation, and government grants) for the purposes of that section

effective interest is defined in section HA 43 (Meaning of effective interest)

effective look-through interest is defined in section HB 1(5) (Look-through companies are transparent)

election commencement year, for an interest holder and an elective attributing CFC, or elective attributing FIF, of the interest holder for an accounting period, means the first year for which the election under section EX 73 (Election that CFC not non-attributing active CFC or FIF not non-attributing active FIF) for the accounting period was effective

election day worker means a person to whom all the following apply:

election expiry date is defined in section HC 30(5) (Treatment of foreign trusts when settlor becomes resident) for the purposes of that section

elective attributing CFC, for an interest holder and an accounting period, means a CFC for which the interest holder has made an election under section EX 73 (Election that CFC not non-attributing active CFC or FIF not non-attributing active FIF) that is effective for the accounting period

elective attributing FIF for an interest holder and an accounting period, means a FIF for which the interest holder uses the attributable FIF income method and has made an election under section EX 73 (Election that CFC not non-attributing active CFC or FIF not non-attributing active FIF) that is effective for the accounting period

electronic format means the format and the electronic means by which a return or particulars that are filed electronically are provided

eligible hedge is defined in section EM 8 (Some definitions) for the purposes of subpart EM (Hedging of currency movements in Australian non-attributing shares and attributing FDR method interests)

eligible research and development expenditure is defined in section LY 5 (Eligible research and development expenditure)

emergency call is defined in section CX 34 (Meaning of emergency call)

emergency event [Repealed]

emigrating company is defined in section FL 1(1) (What this subpart does)

emissions unit means a unit as defined in section 4(1) of the Climate Change Response Act 2002

emissions unit shortfall year, for a person means an income year that—

employee—

employee share loan is defined in section CX 35 (Meaning of employee share loan)

employee share scheme is defined in section CE 7 (Meaning of employee share scheme)

employee’s superannuation accumulation means the total superannuation contributions, together with any return on them, to which the complying fund rules apply, and are—

employer—

employer contribution has the same meaning as in the KiwiSaver Act 2006

employer monthly schedule [Repealed]

employer-sourced superannuation savings means—

employer sponsored group policy [Repealed]

employer’s superannuation cash contribution is defined in section RD 65(1) (Employer’s superannuation cash contributions)

employer’s superannuation contribution means a superannuation contribution made by an employer for the benefit of 1 or more of their employees

employer’s workplace is defined in section CW 17CB(7B) (Payments for certain work-related meals) for the purposes of that section

employing company [Repealed]

employment has a meaning corresponding to the meaning of employee, and—

employment income means an amount that is income under section CE 1 (Amounts derived in connection with employment), and includes—

employment income information is defined in section 23C of the Tax Administration Act 1994

employment limitation is defined in section DA 2(4) (General limitations)

employment-related loan means a loan that is a fringe benefit

end date—

end investor is defined in section RE 10C(7) (Obligations of custodial institutions in relation to certain payments of investment income) for the purposes of that section and sections RE 4 and RF 4

engaged in full-time work [Repealed]

entering owner—

entering partner—

entitlement period is defined in section MC 11(1) (Relationship periods and entitlement periods) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

entity is defined in section FH 15(1) (Definitions)

environmental restoration account is defined in section EK 23(3) (Other definitions) for the purposes of subpart EK (Environmental restoration accounts)

equity instrument is defined in section EW 15I(3) (Mandatory use of yield to maturity method for some arrangements) for the purposes of that section

ESCT—

ESCT rate threshold amount, for an employer’s superannuation cash contribution, means—

ESCT rules means the provisions listed in section RD 64 (ESCT rules and their application)

ESS deferral date is defined in section CE 2(9) (Benefits under employee share schemes) for the purposes of that section and sections RD 6 and RD 7B (which relate to amounts of tax for benefits under employee share schemes)

established activity [Repealed]

estate in relation to land, interest in relation to land, estate or interest in land, estate in land, interest in land, and similar terms—

estimated residual market value,—

estimated useful life,—

ETS unit [Repealed]

excepted financial arrangement—

excess credit amount [Repealed]

excess debt entity is defined in section FE 4 (Some definitions) for the purposes of subpart FE (Interest apportionment on thin capitalisation)

excess debt outbound company is defined in section FE 4 (Some definitions) for the purposes of subpart FE (Interest apportionment)

excess expenditure—

excess tax payment, for a company at a time, and for the purposes of Part O (Memorandum accounts), means the amount at the time by which a payment made by or on behalf of the company to the Commissioner for income tax or provisional tax is more than the liability at the time of the company to pay income tax and provisional tax

exchange variation is defined in section CZ 3(5) (Exchange variations on 8 August 1975) for the purposes of that section

excluded ancillary tax means—

excluded day is defined in section CB 6A (Disposal within 10 years: bright-line test for residential land) for the purposes of that section

excluded depreciable property is defined in section EE 64 (Meaning of excluded depreciable property)

excluded fixed rate security means a fixed rate share issued by a company or a debenture issued by a company, if it is a stapled debt security and not a profit-related debenture, when the holder of the share or debenture does not have, because of it, any right to vote or participate in any shareholder decision-making, except to the extent of any such right that—

excluded income is defined in section BD 1(3) (Income, exempt income, excluded income, non-residents’ foreign-sourced income, and assessable income)

excluded option means, for a company, an option to acquire or dispose of a share in the company if—

excluded preference share is defined in section YC 18B (Corporate reorganisations not affecting economic ownership) for the purposes of that section

exempt ESS is defined in section CW 26C (Meaning of exempt ESS)

exempt income is defined in section BD 1(2) (Income, exempt income, excluded income, non-residents’ foreign-sourced income, and assessable income)

exempt income limitation is defined in section DA 2(3) (General limitations)

exempt interest means interest that is—

exemption certificate [Repealed]

existing business is defined in section EY 28 (Shareholder base other profit: profit participation policies that are existing business) for the purposes of that section and section EY 29 (Shareholder base other profit: profit participation policies that are new business)

existing farmer [Repealed]

existing privilege is defined in section 2(1) of the Crown Minerals Act 1991, and includes mining privilege and mining licence under the Mining Act 1971 and prospecting licence or mining licence under the Petroleum Act 1937

exit level, for a multi-rate PIE, means the relationship of the entity’s tax liability to the value of the investor’s interest described in section HM 62 (Exit levels for investors)

exit period, for an investor in a multi-rate PIE, means a period set out in section HM 63 (Exit periods)

exiting partner, for a partnership, means a person who disposes of interests in the partnership held by the person as a partner

expected life risk proportion is defined in section EY 25 (Premium smoothing reserving amount: non-participation policies not annuities) for the purposes of that section

expenditure—

expenditure on account of an employee is defined in section CE 5 (Meaning of expenditure on account of an employee)

exploration and development activities is defined in section CW 57(2) (Non-resident company involved in exploration and development activities) for the purposes of that section

exploration permit is defined in section 2 of the Crown Minerals Act 1991

exploratory material means anything acquired with exploratory well expenditure or prospecting expenditure

exploratory well means a well in a permit area, drilled for the purpose of—

exploratory well expenditure—

extended return date is defined in section IC 9(3) (Date for payment and notice to Commissioner) for the purposes of Part I (Treatment of tax losses)

extra pay is defined in section RD 7 (Extra pay)

fair dividend rate annual method means the method of calculating FIF income or loss under section EX 52 (Fair dividend rate annual method)

fair dividend rate hedge portion is defined in section EM 8 (Some definitions) for the purposes of subpart EM (Hedging of currency movements in Australian non-attributing shares and attributing FDR method interests)

fair dividend rate method means the method of calculating FIF income or loss under—

fair dividend rate periodic method means the method of calculating FIF income or loss under section EX 53 (Fair dividend rate periodic method)

fair value method means a method under section EW 15D (IFRS financial reporting method) of calculating income or expenditure for an income year that takes into account movements in fair value as determined under IFRSs

family assistance credit [Repealed]

family credit abatement is defined in section MA 8 (Some definitions for family scheme) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

family member means a family member as defined in section 5 of the Members of Parliament (Remuneration and Services) Act 2013

family plus [Repealed]

family scheme means all the entitlements and tax credits for families arising under subparts MA to MG and MZ

family scheme income is defined in section MA 8 (Some definitions for family scheme) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

family support [Repealed]

family tax credit is defined in section MA 8 (Some definitions for family scheme) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

farmer is defined in section EH 3(1)(a) (Persons to whom main income equalisation scheme applies) for the purposes of the main income equalisation scheme

farm-in expenditure means expenditure that a farm-in party under a farm-out arrangement agrees that they will incur

farm-in party, in relation to petroleum miner, means the person referred to in the definition of farm-out arrangement who has an arrangement as described in that definition with the petroleum miner

farm-out arrangement—

farmland means land that—

FBT has the same meaning as fringe benefit tax

FBT rules means the provisions listed in section RD 25 (FBT rules and their application), and fringe benefit tax rules has the same meaning

FDP [Repealed]

FDP account [Repealed]

FDP credit [Repealed]

FDP debit [Repealed]

FDP penalty tax [Repealed]

FDP ratio [Repealed]

FDP reference period [Repealed]

FDP rules [Repealed]

FDPA [Repealed]

FDPA company [Repealed]

feature film means a film that—

fee is defined in section RD 41(4) (Services) for the purposes of that section

FIF means a foreign investment fund as defined in section EX 28 (Meaning of FIF)

FIF income is defined in section CQ 5 (When FIF income arises)

FIF loss is defined in section DN 6 (When FIF loss arises)

FIF net loss, for a person and for an income year in which the person has a FIF loss, means the part of the FIF loss for which the person is denied a deduction because of section DN 8 (Ring-fencing cap on deduction: attributable FIF income method), but must instead deal with under Part I (Treatment of tax losses)

FIF rules means sections EX 28 to EX 72 (which relate to foreign investment funds)

FIF superannuation interest means, for a person and an income year (the current year), the rights in a foreign superannuation scheme held by the person as a beneficiary or member that the person acquires under an arrangement with the foreign superannuation scheme, if—

fifteen percent capital reduction is defined in section CD 22(9) (Returns of capital: off-market share cancellations) for the purposes of that section

fifteen percent interest reduction is defined in section CD 22(9) (Returns of capital: off-market share cancellations) for the purposes of that section

filing taxpayer means a person, other than—

film, except in section CC 9 (Royalties),—

film income means income of a person under section CC 10 (Films)

film production expenditure—

film reimbursement scheme is defined in section DS 4 (Meaning of film reimbursement scheme)

film right means a right or interest, including a future or contingent right or interest, of any of the following kinds:

final instalment, in relation to provisional tax, means the last instalment of provisional tax due in a transitional year

finance lease means a lease of a personal property lease asset entered into by a person on or after 20 May 1999 that—

finance-related deduction means a deduction of a company that is part of a consolidated group, calculated as if the company were not part of the group and determined under section FM 3 (Liability of consolidated groups and group companies) for an amount, other than an amount that arises only from movement in currency exchange rates, of—

financial arrangement—

financial arrangements rules is defined in section EW 1(2) (What this subpart does)

financial asset has the same meaning as in NZIAS 32

financial assistance, in subpart HC (Trusts), for a person or trust, means assistance provided to or for the benefit of the person or trust that produces a financial benefit for which the person or trust provides less than market value, and assistance is treated as having been provided for less than market value if—

financial institution means a registered bank or an entity subject to the Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations 2010 that must use IFRSs to prepare financial statements

financial institution special purpose vehicle [Repealed]

financial instrument is defined in section FH 15(1) (Definitions)

financial liability has the same meaning as in NZIAS 32

financial risk is defined in section EY 12 (Meaning of life reinsurance)

financial statements is defined in section 6 of the Financial Reporting Act 2013, but the references in that definition to an entity and to a reporting entity are to be read as references to a person

financial value is defined in section FE 20(1) (Financial value and regulatory value) for the purposes of sections FE 7, FE 19, and FE 21 to FE 23 (which relate to a New Zealand banking group’s equity threshold)

financially independent means—

first business day, in relation to provisional tax, means—

first payment period means the period starting on the 1st day of a month and ending with the 15th day of the month

first publication is defined in section EI 3(6) (Assigning or granting copyright) for the purposes of that section

first tracking date [Repealed]

fisher is defined in section EH 3(1)(b) (Persons to whom main income equalisation scheme applies)

fishing boat is defined in section EJ 2(6) (Spreading forward of deductions for repairs to fishing boats) for the purposes of that section

fishing business—

fishing quota emissions unit means an emissions unit—

fixed establishment—

fixed life intangible property is defined in section EE 67 (Other definitions)

fixed principal financial arrangement—

fixed-rate foreign equity means an interest (the equity) in the capital of a foreign company held by a company (the holder) in relation to which the foreign company makes distributions—

fixed-rate share,—

flat-owning company is defined in section CD 31(2) (Flat-owning companies) for the purposes of that section, section HA 6 (Corporate requirements), and the definition of look-through company

FMA means the Financial Markets Authority established under Part 2 of the Financial Markets Authority Act 2011

foreign account information-sharing agreement means a double tax agreement that facilitates the automatic exchange by the parties of information relating to financial accounts, including—

foreign ASAP means a financial arrangement that is an agreement for the sale and purchase of property or services and, at the time the ASAP is entered into 50% or more of the consideration in New Zealand dollars is in a foreign currency, measured using spot rates at that time

foreign attributed income means a company’s income for the income year that is—

foreign attributed loss offsets [Repealed]

foreign bank is defined in section FG 1(2) (When this subpart applies) for the purposes of subpart FG (Treatment of notional loans to New Zealand branches of foreign banks)

foreign company means a company that—

foreign corporate limited partnership means an entity or group of persons that—

foreign country is defined in section DB 45(4) (Bribes) for the purposes of that section

foreign crew of fishing vessels instructions means the immigration instructions for foreign crew of fishing vessels, certified under section 22(1) of the Immigration Act 2009

foreign defined contribution scheme means a foreign superannuation scheme that operates on the principle of allocating contributions to the scheme on a defined basis to individual members

foreign dividend [Repealed]

foreign dividend company [Repealed]

foreign dividend company net earnings [Repealed]

foreign exempt entity is defined in section CW 12(4) (Proceeds of share disposal by qualifying foreign equity investor) for the purposes of that section

foreign exempt partnership is defined in section CW 12(4) (Proceeds of share disposal by qualifying foreign equity investor) for the purposes of that section

foreign exempt person is defined in section CW 12(4) (Proceeds of share disposal by qualifying foreign equity investor) for the purposes of that section

foreign expenditure is defined in section EG 1(10) (Election to use balance date used in foreign country) for the purposes of that section

foreign group [Repealed]

foreign income tax is defined in section LJ 3 (Meaning of foreign income tax) for the purposes of Part L (Tax credits and other credits)

foreign investment fund is defined in section EX 28 (Meaning of FIF)

foreign investment PIE means a multi-rate PIE that—

foreign investment variable-rate PIE means a foreign investment PIE that—

foreign investment vehicle means an entity that—

foreign investment zero-rate PIE means a foreign investment PIE that—

foreign LTC holder means—

foreign non-dividend income means income that—

foreign PIE equivalent is defined in section HM 3 (Foreign PIE equivalents)

foreign public official [Repealed] 

foreign source income is defined in section EG 1(10) (Election to use balance date used in foreign country) for the purposes of that section

foreign-sourced amount means an amount of income that is not treated as having a source in New Zealand under sections YD 4 (Classes of income treated as having New Zealand source) and YZ 1 (Source rule for interest)

foreign superannuation scheme means a superannuation scheme constituted outside New Zealand

foreign superannuation withdrawal means a benefit for a person from a foreign superannuation scheme to which section CF 3 (Withdrawals from foreign superannuation scheme) applies

foreign tax [Repealed]

foreign trust is defined in section HC 11 (Foreign trusts)

foreign withholding tax means a tax, other than a New Zealand tax, that—

forest land emissions unit means a pre-1990 forest land emissions unit, a post-1989 forest land emissions unit, or a forest sink emissions unit

forest sink emissions unit means an emissions unit issued to a person in relation to a forest sink covenant under section 67Y of the Forests Act 1949 entered by the person

forester is defined in section EH 3(1)(c) (Persons to whom main income equalisation scheme applies)

forest land unit [Repealed]

forestry assets is defined in section FC 6 (Forestry assets transferred to close relatives) for the purpose of that section

forestry business includes forestry activities carried on by a person for the purpose of deriving income in relation to an emissions unit

forestry company means a company that is incorporated, under an agreement between the Crown, the Maori owners, and a holding company of the company, for the purposes of—

formation loss, for a PIE,—

former Financial Reporting Act is defined in section EZ 32F(4) (Applicable accounting standard for section EX 21E: former generally accepted accounting practice without IFRS) for the purposes of that section and section EX 21E

former Financial Reporting Standard 34 is defined in section EZ 32F(4) (Applicable accounting standard for section EX 21E: former generally accepted accounting practice without IFRS) for the purposes of that section and section EX 21E

former Financial Reporting Standard 35 is defined in section EZ 32F(4) (Applicable accounting standard for section EX 21E: former generally accepted accounting practice without IFRS) for the purposes of that section and section EX 21E

former financial reporting standards without IFRS is defined in section EZ 32F(4) (Applicable accounting standard for section EX 21E: former generally accepted accounting practice without IFRS) for the purposes of that section and section EX 21E

former generally accepted accounting practice without IFRS is defined in section EZ 32F(4) (Applicable accounting standard for section EX 21E: former generally accepted accounting practice without IFRS) for the purposes of that section and section EX 21E

forward contract,—

friendly society means a society or credit union or association of credit unions registered, treated as registered, or incorporated under the Friendly Societies and Credit Unions Act 1982

fringe benefit is defined in section CX 2 (Meaning of fringe benefit)

fringe benefit tax means fringe benefit tax payable under section RD 26 (Liability for FBT), and FBT has the same meaning

fringe benefit tax rules means the provisions listed in section RD 25 (FBT rules and their application) and FBT rules has the same meaning

full reinsurance is defined in section EY 12(2) (Meaning of life reinsurance)

full-time earner is defined in section MA 7 (Meaning of full-time earner for family scheme) for the purposes of subparts MA to MG and MZ (which relate to tax credits for families)

fully credited is defined in section CD 43(26) (Available subscribed capital (ASC) amount) for the purposes of that section

fully credited for conduit tax relief [Repealed]

fully imputed,—

fund provider, for a person and a KiwiSaver scheme or a complying superannuation fund of which they are a member, means the trustees of the scheme or fund

further FDP [Repealed]

further income tax means an amount of tax by way of further income tax that a company may be liable to pay under—

futures contract means a forward contract traded on a recognised futures exchange

FX hedge means a financial arrangement that is a hedge of foreign exchange risk

gaming-machine gambling means class 4 gambling, as defined in section 30 of the Gambling Act 2003, that utilises or involves a gaming machine

gaming-machine operator’s licence means a class 4 operator’s licence as defined in section 4 of the Gambling Act 2003

gaming-machine venue licence means a class 4 venue licence as defined in section 4 of the Gambling Act 2003

general insurance means insurance that is not life insurance

general insurance contract [Repealed]

general limitation means a rule described in any of section DA 2(1) to (6) (General limitations)

general partner—

general permission is defined in section DA 1(1) (General permission)

general power of appointment—

generally accepted accounting practice is defined in section 8 of the Financial Reporting Act 2013

generally accepted accounting practice with IFRS is defined in section EZ 32F(4) (Applicable accounting standard for section EX 21E: former generally accepted accounting practice without IFRS) for the purposes of that section and section EX 21E

geothermal energy proving period means, for a person’s geothermal well that is not used to exploit geothermal energy, a period—

geothermal well means a bore or well solely for the purpose of investigating or exploiting geothermal energy in New Zealand

gifting settlor is defined in section EX 46(12) (Limits on choice of calculation methods)

goods, in subparts LY (Research and development tax credits) and MX (Tax credits for R&D tax losses), in sections CX 1 (Goods and services tax), DB 2 (Goods and services tax), EA 3 (Prepayments), GB 56 (Arrangements involving research and development tax credits), GB 54 (Arrangements involving establishments), and YD 4B (Meaning of permanent establishment), and in the definitions of R&D expenditure, R&D material, and services, is defined in section 2 of the Goods and Services Tax Act 1985

government screen production payment [Repealed]

government stock is defined in section DZ 11(3) (Film reimbursement scheme on or before 30 June 2001) for the purposes of that section

Government Superannuation Fund means the fund established under the Government Superannuation Fund Act 1956

grandparented charity means, for an entity, a tax charity that, before 3 May 2016,—

grandparented consolidated company, for a company that is part of a consolidated group and for an income year (the current income year), means a company that before 17 May 2006 chose to form or join the consolidated group, when—

grandparented Maori authority means, for an entity, a Maori authority that, before 3 May 2016,—

grandparented structure [Repealed]

grandparenting income year is defined in section HA 5(5) (Elections to become qualifying company)

grandparenting start day is defined in section EY 30 (Transitional adjustments: life risk)

grant-related suspensory loan means a loan—

greater Christchurch is defined in section CZ 29(5) (Accommodation expenditure: Canterbury earthquake relief) for the purposes of that section

greenhouse gas unit means a unit that is—

grey list means the list of countries in schedule 24, part A (International tax rules: grey list countries)

grey list company means a company that is resident under section YD 3 (Country of residence of foreign companies) in a grey list country if either—

grey list dividend [Repealed]

gross, for an amount, means without any deduction from the amount

gross gambling proceeds means gross proceeds, as defined in regulation 3(1) of the Gambling (Class 4 New Proceeds) Regulations 2004, plus prizes

group funding debt means the amount calculated under section FE 23 (Banking group’s funding debt)

group investment fund means a group investment fund established under the—

group life master policy is defined in section EY 30 (Transitional adjustments: life risk)

group of companies is defined in section IC 3 (Common ownership: group of companies)

group of persons—

GST means goods and services tax under the Goods and Services Tax Act 1985

GST charged means GST charged under section 8(1) of the Goods and Services Tax Act 1985

GST payable in sections CX 1 (Goods and services tax), DB 2 (Goods and services tax), and DB 3(3) (Determining tax liabilities), has the same meaning as tax payable in section 2 of the Goods and Services Tax Act 1985, but does not include interest payable under Part 7 of the Tax Administration Act 1994

GST ratio is defined in section RC 8(2) (GST ratio method)

guaranteed residual value means an amount to which both the following apply:

guarantor is defined in—

guardian is defined in section HC 36(5) (Trusts and minor beneficiary rule) for the purposes of that section

hedge and hedging are defined in section EM 8 (Some definitions) for the purposes of subpart EM (Hedging of currency movements in Australian non-attributing shares and attributing FDR method interests)

herd livestock means a type of specified livestock that a person—

herd scheme—