The Parliament of New Zealand enacts as follows:
This Act is the Taxation (Cost of Living Payments) Act 2022.
This Act comes into force on the day after the date on which it receives the Royal assent.
This Part amends the Tax Administration Act 1994.
(1)
This section amends section 3(1).
(2)
Insert, in appropriate alphabetical order:
cost of living payments scheme means the Cost of Living Payments Scheme established and administered by the Crown to provide financial support to certain low- and middle-income persons affected by an increase in the cost of living
(3)
In the definition of disputable decision, after paragraph (b)(v), insert:
to make, or to decline to make, a grant under the cost of living payments scheme under section 7AAA; or
(4)
In the definition of tax, after paragraph (cd), insert:
for the purposes of sections 6 to 6B, 156 to 165, 174AA, and 176 to 177CA, includes an amount payable in relation to a grant made under the cost of living payments scheme:
After section 7, insert:
It is a function of the Commissioner to administer the cost of living payments scheme (the scheme) on behalf of the Crown.
If a person who receives a grant under the scheme from the Commissioner does not qualify for the grant under the eligibility requirements of the scheme, the person must immediately repay to the Commissioner the total amount of the grant.
The Commissioner must publish, on an internet site administered by the Commissioner, the eligibility requirements referred to in subsection (2).
In section 157(10), definition of income tax, after paragraph (k), insert:
an amount payable in relation to a grant made under the cost of living payments scheme:
This Part amends the Income Tax Act 2007.
After section CW 33(1)(c), insert:
a payment under the cost of living payments scheme, as defined in section 3(1) of the Tax Administration Act 1994:
In section MB 13(2)(n), before “(e),”, insert “(cb),”.
“(e),”
“(cb),”
19 May 2022
Introduction (Bill 128–1), first reading, second reading, committee of the whole House, third reading
24 May 2022
Royal assent
This Act is administered by the Inland Revenue Department.