COVID-19 Response (Taxation and Social Assistance Urgent Measures) Act 2020

Reprint as at 30 March 2021

Coat of Arms of New Zealand

COVID-19 Response (Taxation and Social Assistance Urgent Measures) Act 2020

Public Act
 
2020 No 8
Date of assent
 
25 March 2020
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 and the Ministry of Social Development.

Contents

1Title
2Commencement
Part 1
Amendments to Income Tax Act 2007
3Income Tax Act 2007
4Section DB 65 repealed (Allowance for certain commercial buildings)
5Section EE 31 amended (Annual rate for item acquired in person’s 1995–96 or later income year)
6Section EE 35 amended (Special rate or provisional rate)
7Section EE 37 amended (Improvements)
8Section EE 38 amended (Items of low value)
9Section EE 60 amended (Total deductions in section EE 56)
10Section EE 61 amended (Meaning of annual rate)
11Section EE 64 amended (Meaning of excluded depreciable property)
12Section EE 67 amended (Other definitions)
13Section EZ 13 amended (Annual rate for item acquired on or after 1 April 1993 and before end of person’s 1994–95 income year)
14Section EZ 14 amended (Pre-1993 depreciation rate)
15Section LA 5 amended (Treatment of remaining credits)
16Section LZ 14 inserted (Research and development tax credits’ refundability: option for 2019–20 income year)
LZ 14Research and development tax credits’ refundability: option for 2019–20 income year
17Section MA 7 amended (Meaning of full-time earner for family scheme)
18Section MC 5 amended (Third requirement: residence)
19Section MD 9 amended (Fifth requirement: full-time earner)
20Section MD 10 amended (Calculation of in-work tax credit)
21Section RC 3 amended (Who is required to pay provisional tax?)
22Section RC 4 amended (Choosing to pay provisional tax)
23Section RC 6 amended (Standard method)
24Section RC 9 amended (Provisional tax payable in instalments)
25Section RC 13 amended (Paying 2 instalments for tax year)
26Section RC 14 amended (Paying 1 instalment for tax year)
27Section RC 16 amended (Who may use GST ratio?)
28Section RM 12 amended (Reduction in provisional tax liability)
29Section YA 1 amended (Definitions)
30Schedule 39 repealed (Items for purposes of definition of special excluded depreciable property)
Part 2
Amendments to other enactments
Amendments to Tax Administration Act 1994
31Tax Administration Act 1994
32Section 3 amended (Interpretation)
33New section 183ABAB inserted (Remission for taxpayers affected by COVID-19)
183ABABRemission for taxpayers affected by COVID-19
34Schedule 7 amended (Disclosure rules)
23BGovernment agencies: COVID-19 response purposes
Amendment to Goods and Services Tax Act 1985
35New section 89 of Goods and Services Tax Act 1985 inserted (COVID-19-related payments made before commencement of Goods and Services Tax (Grants and Subsidies) Amendment Order 2020)
89COVID-19-related payments made before commencement of Goods and Services Tax (Grants and Subsidies) Amendment Order 2020
Amendments to Social Security Act 2018
36Schedule 4 of Social Security Act 2018 amended (Rates of benefits)
Amendments to Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020
37Section 2 of Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 amended
38Section 155 of Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 repealed
Amendment to Commissioner’s Table of Depreciation Rates
39Commissioner’s Table of Depreciation Rates amended
Reprint notes

The Parliament of New Zealand enacts as follows: