Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Bill

  • enacted

Hon Stuart Nash

Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Bill

Government Bill

72—3

Contents

Key
1Title
2Commencement
Part 1
Annual rates of income tax
3Annual rates of income tax for 2018–19 tax year
Part 2
Amendments to Tax Administration Act 1994
4Tax Administration Act 1994
5Section 3 amended (Interpretation)
6Section 4A amended (Construction of certain provisions)
12Section 15 amended (Annual report)
13Section 15B amended (Taxpayer’s tax obligations)
14Part heading and sections 15C to 15Z renumbered
15New subpart 3A inserted (Collection, use, and disclosure of revenue information)
Subpart 3A—Collection, use, and disclosure of revenue information
16Purposes of subpart
16BPrinciples on which subpart based
16CKey terms
Collection of information
17Commissioner may obtain information by accessing property or documents
17BCommissioner may require information or production of documents
17CCommissioner’s powers in relation to documents
17DWarrants
17EInformation or documents treated as in persons’ knowledge, possession, or control
Particular information demands and inquiries
17FCommissioner may require information about offshore payments
17GCommissioner may require information from large multinational groups
17HCourt may make order for provision of information
17ICommissioner may conduct inquiries
17JCommissioner may apply for District Court Judge to conduct inquiries
17KQuestions and statements made in inquiries
Regulations
17LRegulations providing for regular collection of bulk data
Use of information
17MUse of information
Confidentiality of information
18Confidentiality of sensitive revenue information
18BRequirements for revenue officers and other persons
Permitted disclosures
18CPermitted disclosures
18DDisclosures made in carrying into effect revenue laws
18EDisclosures made under information-sharing arrangements
18FRegulations for information-sharing for public services purposes
18GDisclosures to persons and their representatives
18HDisclosures to other agencies for certain specified purposes
18IDisclosures for international purposes
18JDisclosures for risk of harm purposes
16New subpart heading inserted (Subpart 3AB—Tax advice documents)
17Subpart heading amended (Subpart 3AC—Taxpayers’ obligations to keep records)
18Section 21 repealed (Information requisitions in relation to offshore payments)
19Section 21BA repealed (Information required to be provided by large multinational group)
20Section 22 amended (Keeping of business and other records)
21New subpart inserted (Subpart 3B—Reporting of income information by individuals)
Subpart 3B—Reporting of income information by individuals
22COutline of subpart
22DKey terms
22EInformation included in pre-populated accounts
22FInformation requirements
22HAmending accounts for incorrect or missing information
22HBFinalising accounts
22IReturns and assessments
22IBCommissioner’s power in relation to certain amounts of tax payable
22JNo obligation to provide information: de minimis and certain other amounts
22KInformation particulars
22LSetting electronic and non-electronic requirements
22Section 23 amended (Keeping of returns where information transmitted electronically)
23Subparts 3C and 3D amended
24Section 23C amended (Meaning of employment income information)
25Section 23D amended (Employers’ groups for delivery of information)
26Section 24B amended (PAYE tax codes)
27Section 24D amended (Tax codes provided by the Commissioner)
28New section 24DB inserted (Use of unsuitable tax codes)
24DBUse of unsuitable tax codes
29Section 24Q amended (Transfer of payroll donations by employers)
30Section 25A replaced (Use of inconsistent RWT rates)
25AUse of unsuitable RWT rates
31Subpart 3E amended (Subpart 3E—Investment income information)
31BSection 25D amended (Investment income information)
31CSection 28B amended (Notification of investors’ tax file numbers)
32Section 31C amended (Notification requirements for multi-rate PIEs)
33Section 32E amended (Applications for RWT exemption certificates)
34Section 33 amended (Returns of income)
35Sections 33AA, 33C, and 33D repealed
36Section 34B repealed (Commissioner to list tax agents)
37Section 36BB amended (Electronic format for details required for tax pooling intermediaries)
38Section 36BD amended (Electronic filing requirements for registered persons)
39Section 37 amended (Dates by which annual returns to be furnished)
40Section 38 amended (Returns to annual balance date)
41Section 41 amended (Annual returns by persons who receive family assistance credit)
42Section 41A amended (Returns by persons with tax credits for charitable or other public benefit gifts)
43Section 42C amended (Income tax returns by undischarged bankrupt)
44Section 43 amended (Income tax returns and assessments by executors or administrators)
44BSection 46 amended (Employers to make returns as to employees)
45Section 47 amended (ESCT statements provided by employers and others)
46Section 55B amended (Information relating to offshore persons and tax file numbers)
47Part 3A repealed (Part 3A—Income statements)
47BSection 80KA amended (Applications for payment of tax credit by instalment)
48Section 80KM amended (Summary of instalments paid)
48BSection 80KN amended (Payment of tax credit by chief executive)
49Heading and sections 81 to 88 repealed
50Section 89 amended (Commissioner to notify Minister where funds of gift-exempt body applied for non-charitable purpose, etc)
51Section 89C amended (Notices of proposed adjustment required to be issued by Commissioner)
52Section 89D amended (Taxpayers and others with standing may issue notices of proposed adjustment)
52BSection 89N amended (Completing the disputes process)
54Section 91C amended (Taxation laws in respect of which binding rulings may be made)
55New sections 91CB and 91CC inserted
91CBBinding rulings on certain matters
91CCBinding rulings on certain determination matters
55BSection 91CB amended (Binding rulings on certain matters)
56Section 91E amended (Commissioner to make private rulings on application)
57Section 91EA amended (Effect of a private ruling)
58Section 91EB amended (Application of a private ruling)
58BSection 91ED amended (Disclosure requirements)
59Section 91EF amended (Assumptions in making a private ruling)
60Section 91EH amended (Content and notification of a private ruling)
61New heading and new sections 91EK to 91ET inserted
Short-process rulings
91EKCommissioner may make short-process rulings
91ELApplying for short-process ruling
91EMEffect of short-process ruling
91ENApplication of short-process ruling
91EODisclosure requirements
91EPCommissioner may request further information
91EQConditions on which short-process ruling based
91ERRight to consultation
91ESContent and notification of short-process ruling
91ETTreatment of information
62Section 91F amended (Commissioner may make product rulings)
63Section 91FB amended (Application of a product ruling)
64Section 91FC amended (Applying for a product ruling)
65Section 91FF amended (Assumptions in making a product ruling)
66Section 91FH amended (Content and notification of a product ruling)
67Section 91GB amended (Commissioner to make status rulings on application)
68Section 92 amended (Taxpayer assessment of income tax)
69Section 106 amended (Assessment where default made in furnishing returns)
70Section 108 amended (Time bar for amendment of income tax assessment)
70BSection 108B amended (Extension of time bars)
71Section 110 amended (Evidence of returns and assessments)
72Section 111 amended (Commissioner to give notice of assessment to taxpayer)
73Section 113A replaced (Correction of minor errors in subsequent returns)
113ACorrection of certain errors in subsequent returns
74Section 120C amended (Definitions)
75Section 120F amended (Interest priority and rights of Commissioner)
76Section 120KB amended (Provisional tax instalments and due dates generally)
76BASection 120KBB amended (Interest for most standard method and some estimation method provisional taxpayers)
76BSection 120L amended (Meaning of unpaid tax and overpaid tax for provisional tax purposes)
77New section 120VD inserted (Interest on tax credits for charitable or other public benefit gifts)
120VDInterest on tax credits for charitable or other public benefit gifts
78Section 124A renumbered (Application of Part 8)
79New Part 7B inserted (Part 7B—Third-party providers)
Part 7B
Third-party providers
124BWhat this Part does
Tax agents, representatives, and nominated persons
124CTax agents
124DRepresentatives
124EInformation requirements for tax agents and representatives
124FNominated persons
124GRefusal, removal, or disallowance of status of tax agents, representatives, and nominated persons
80Section 124H amended (PAYE intermediaries and listed PAYE intermediaries)
81Sections 124L, 124M, and 124N repealed
82Section 124O amended (Employers’ arrangements with PAYE intermediaries)
83Section 124R repealed (Subsidy claim forms)
84Section 125 amended (Certain rights of objection not conferred)
85Section 135 amended (Powers of Taxation Review Authority on determination of objection or case stated)
86Section 136 amended (When objection may be referred directly to High Court)
87Section 138A amended (Application of this Part)
88Section 138E amended (Certain rights of challenge not conferred)
89Section 139A amended (Late filing penalty for certain returns)
89BSection 139B amended (Late payment penalty)
90Section 141B amended (Unacceptable tax position)
91Section 141B amended (Unacceptable tax position)
92Section 141JA amended (Application of Part 9 to non-filing taxpayers)
93Section 143 amended (Absolute liability offences)
95Section 143C amended (Offence for failure of officers of department to maintain secrecy)
96Sections 143D and 143E replaced
143DOffences related to disclosure of certain information by persons other than revenue officers
143EOffences related to disclosure of certain information to employees
143EBOffences related to disclosure of certain information by employers and directors
96BSection 173L amended (Transfer of excess tax within taxpayer’s accounts)
98Section 184A amended (Refund of tax paid in excess made by direct credit to bank account)
98BNew section 225AB inserted (Order in Council amending schedule 18B of Income Tax Act 2007)
225ABOrder in Council amending schedule 18B of Income Tax Act 2007
98CNew section 227EB inserted (Transitional provisions: publication requirements related to RWT-exempt status and certain exemption certificates)
227EBTransitional provisions: publication requirements related to RWT-exempt status and certain exemption certificates
99New section 227F inserted (Transitional provisions related to information disclosures)
227FTransitional provisions related to information disclosures
99BNew section 227G inserted (Transitional provision related to individuals’ income information)
227GTransitional provision related to individuals’ income information
100Schedule 4 amended (Reporting of employment income information)
101Schedule 5 amended (Certain tax codes and rates)
101BSchedule 6 amended (Reporting of investment income information)
102New schedules inserted
102BSchedule 8 amended (Reporting of income information by individuals and treatment of certain amounts)
Part B
Treatment of certain amounts
1Writing off certain amounts of tax payable
2Exclusions
3Small amounts of tax payable
103Consequential amendments
Part 3
Amendments to Income Tax Act 2007
104Income Tax Act 2007
104BSection CB 6A amended (Disposal within 5 years: bright-line test for residential land)
105Section CB 9 amended (Disposal within 10 years: land dealing business)
106Section CB 10 amended (Disposal within 10 years: land development or subdivision business)
107Section CB 11 amended (Disposal within 10 years of improvement: building business)
108Section CB 15 amended (Transactions between associated persons)
108BSection CB 15C amended (Council-controlled organisations and other companies)
109New heading and new section CB 15D inserted
Exclusions for Housing New Zealand Corporation and wholly-owned group
CB 15DHousing New Zealand Corporation and wholly-owned group
110Section CB 16A amended (Main home exclusion for disposal within 5 years)
111Section CB 16 amended (Residential exclusion from sections CB 6 to CB 11)
112Section CB 17 amended (Residential exclusion from sections CB 12 and CB 13)
113Section CB 18 amended (Residential exclusion from section CB 14)
114Section CB 27 amended (Income equalisation schemes)
115Section CB 28 amended (Environmental restoration accounts)
116Section CD 3 amended (Meaning of dividend)
117Section CD 5 amended (What is a transfer of value)
118Section CD 6 amended (When is a transfer caused by a shareholding relationship?)
118BSection CD 29C replaced (Transfers to shareholders by ASX-listed Australian company of shares in subsidiary)
CD 29CTransfers to shareholders by ASX-listed Australian company of shares in subsidiary
119Section CE 1 amended (Amounts derived in connection with employment)
119BNew sections CG 8B and CG 8C inserted
CG 8BRecoveries after deductions for high-priced bloodstock removed from New Zealand
CG 8CRecoveries after deductions for high-priced bloodstock disposed of to non-residents
120Section CV 1 amended (Group companies)
121Section CV 2 amended (Consolidated groups: income of company in group)
122Section CW 9 amended (Dividend derived from foreign company)
123Section CW 19 amended (Amounts derived during short-term visits)
123BSection CW 35 amended (Personal service rehabilitation payments)
124New section CW 38B inserted (Public purpose Crown-controlled companies)
CW 38BPublic purpose Crown-controlled companies
124BSection CW 41 amended (Charities: non-business income)
125Section CW 42 amended (Charities: business income)
125BNew section CW 52B inserted (Disability support services)
CW 52BDisability support services
126Section CX 10 amended (Employment-related loans)
127Section CX 27 amended (Assistance with tax returns)
128Section CX 51 amended (Income equalisation schemes)
128BSection CX 60 amended (Intra-group transactions)
128CSection CZ 25 amended (Land and buildings as revenue account property affected by Canterbury earthquakes and replaced—insurance or compensation, Government purchase)
128DNew section CZ 25B inserted (Land and buildings as revenue account property affected by Hurunui/Kaikōura earthquakes and replaced—insurance or compensation)
CZ 25BLand and buildings as revenue account property affected by Hurunui/Kaikōura earthquakes and replaced—insurance or compensation
128ENew section CZ 35 inserted (Treatment of backdated payments for social rehabilitation: 2008–09 to 2017–18 income years)
CZ 35Treatment of backdated payments for social rehabilitation: 2008–09 to 2017–18 income years
128FSection DB 18AA amended (Square metre rate method)
129Section DB 41 amended (Charitable or other public benefit gifts by company)
130Section DB 46 amended (Avoiding, remedying, or mitigating effects of discharge of contaminant)
130BSection DF 4 amended (Payments for social rehabilitation)
131Section DQ 2 repealed (Adverse event income equalisation scheme)
132Section DV 12 amended (Maori authorities: donations)
133Section DV 19 amended (Association rebates)
133BASection DZ 20 amended (Expenditure incurred while income-earning activity interrupted by Canterbury earthquake)
133BSection EC 39 amended (First income year in breeding business)
133CNew section EC 39B inserted (Stud-founding bloodstock and related terms)
EC 39BStud-founding bloodstock and related terms
133DSection EC 39B amended (Stud-founding bloodstock and related terms)
133ENew section EC 39C inserted (Setting and publication of national minimum price threshold)
EC 39CSetting and publication of national minimum price threshold
133FNew sections EC 47B to EC 47E inserted
EC 47BRemoval of high-priced bloodstock from New Zealand after earlier deductions
EC 47CWhen prospective breeders treated as being in breeding business
EC 47DChange of prospective bloodstock breeders’ expectation or intention after earlier deductions
EC 47EProspective breeders commencing actual breeding businesses
133FBSection ED 2B amended (Transfers to shareholders by ASX-listed Australian company of shares in subsidiary)
133GSection EE 45 amended (Consideration for purposes of section EE 44)
134Section EE 47 amended (Events for purposes of section EE 44)
135Section EH 1 amended (Income equalisation schemes)
136Section EH 4 amended (Main deposit)
137Section EH 35 amended (Meaning of main maximum deposit)
138Headings and sections EH 37 to EH 62 repealed
139Section EK 2 amended (Persons who may make payment to environmental restoration account)
140Section EK 11 amended (Application for refund)
141Section EK 12 amended (Refund if application or excess balance)
142Section EK 20 amended (Environmental restoration account of consolidated group company)
143Section EK 23 amended (Other definitions)
144Section EW 6 amended (Relationship between financial arrangements and excepted financial arrangements)
145Section EW 14 amended (What spreading methods do)
146Section EW 15E amended (Determination alternatives)
147Section EW 15I amended (Mandatory use of yield to maturity method for some arrangements)
148Section EW 32 amended (Consideration for agreement for sale and purchase (ASAP) of property or services, hire purchase agreement, specified option, or finance lease)
149New section EW 33D inserted (Foreign ASAPs: contingencies for business combines)
EW 33DForeign ASAPs: contingencies for business combines combinations
150Section EW 46C amended (Consideration when debt forgiven within economic group)
151Section EX 56 amended (Cost method)
151BANew section EZ 6B inserted (National minimum price threshold for 2019 calendar year)
EZ 6BNational minimum price threshold for 2019 calendar year
151BSection EZ 23B amended (Property acquired after depreciable property affected by Canterbury earthquakes)
151CSection EZ 23BB amended (Interest in property acquired after depreciable property affected by Canterbury earthquakes)
151DSection EZ 70 amended (Insurance for Canterbury earthquake damage of property: treatment as disposal and reacquisition)
151ESection EZ 71 amended (Insurance for Canterbury earthquake damage of property: limit on depreciation recovery income)
151FSection EZ 72 amended (Item treated as available for use if access restricted due to Canterbury earthquake)
151GSection EZ 73 amended (Insurance for Canterbury earthquake damage causing disposal: optional timing rule for income, deductions)
151HSection EZ 74 amended (Insurance for repairs of Canterbury earthquake damage: optional timing rule for income, deductions)
152New heading and new section EZ 80 inserted
Adverse event income equalisation accounts
EZ 80Transfers of deposits when adverse event income equalisation accounts abolished
153Section FC 2 amended (Transfer at market value)
153BSection FE 5 amended (Thresholds for application of interest apportionment rules)
153CSection FE 16B amended (Total group non-debt liabilities)
153DSection FH 3 amended (Payments under financial instruments producing deduction without income)
153ESection FH 4 amended (Receipts under financial instruments producing deduction without income)
153FSection FH 5 amended (Payments by New Zealand resident or New Zealand deducting branch producing deduction without income)
153GSection FH 10 amended (Expenditure or loss of dual resident company producing double deduction without double income)
153HSection FH 12 amended (Offset of mismatch amounts against surplus assessable income)
153ISection FH 15 amended (Definitions)
154Section FM 9 amended (Amounts that are company’s income)
155Section FM 15 amended (Amortising property and revenue account property)
156Section FM 40 amended (Losing eligibility to be part of consolidated group)
156BSection GB 54 amended (Arrangements involving establishments)
157New heading and new section GB 55 inserted
Arrangements involving tax credits for charitable or other public benefit gifts
GB 55Arrangements involving tax credits for charitable or other public benefit gifts
157BSection GC 16 amended (Credit rating of borrower: other than insuring or lending person)
157CSection GC 17 amended (Credit rating of borrower: insuring or lending person)
158Section HC 10 amended (Complying trusts)
159Section HC 15 amended (Taxable distributions from non-complying and foreign trusts)
160Section HC 16 amended (Ordering rule for distributions from non-complying and foreign trusts)
161Section HC 27 amended (Who is a settlor?)
162Section HC 30 amended (Treatment of foreign trusts when settlor becomes resident)
163Section HC 36 amended (Trusts and minor beneficiary rule)
164Section HC 37 amended (Testamentary trusts and minor beneficiary rule)
165Section HE 3 amended (Association rebates)
165BSection HG 11 amended (Limitation on deductions by partners in limited partnerships)
166Section HM 2 amended (What is a portfolio investment entity?)
166BSection HM 12 amended (Income types)
167Section HM 28 replaced (When listed PIE no longer meets crediting requirement)
HM 28When listed PIE no longer meets requirements
168Section HR 8 inserted (Transitional residents)
169Cross-heading amended (Financial institution special purposes vehicles)
170Section HR 9 replaced (Financial institution special purpose vehicles are transparent)
HR 9Debt funding special purpose vehicles are transparent if election made by originator
171New section HR 9BA inserted (Elections to treat debt funding special purpose vehicles as transparent)
HR 9BAElections to treat debt funding special purpose vehicles as transparent
172Section HR 9B replaced (Bankruptcy-remote property during application of section HR 9)
HR 9BBankruptcy-remote property during application of section HR 9
173Section HR 10 replaced (What happens when vehicle stops being financial institution special purpose vehicle?)
HR 10What happens when vehicle stops being transparent debt funding special purpose vehicle?
174Section HR 12 amended (Non-exempt charities: treatment of tax-exempt accumulations)
174BNew sections HZ 9 and HZ 10 inserted
HZ 9Elections to treat existing debt funding special purpose vehicles as transparent
HZ 10What happens when election is made under section HZ 9?
174CSection LB 7 amended (Tax credits related to personal service rehabilitation payments: providers)
175Section LD 1 amended (Tax credits for charitable or other public benefit gifts)
175BSection LD 3 amended (Meaning of charitable or other public benefit gift)
176Section LD 3 amended (Meaning of charitable or other public benefit gift)
177Section LD 4 amended (Tax credits for payroll donations)
178Section MC 6 amended (When person does not qualify)
179Section MD 3 amended (Calculation of family tax credit)
180Section MD 11 amended (Entitlement to parental tax credit)
181Section MD 11 amended (Entitlement to parental tax credit)
182Section MD 11 amended (Entitlement to parental tax credit)
183Section MD 13 amended (Calculation of family credit abatement)
183BSection MF 2 amended (When person not entitled to payment by instalment)
183CSection MF 4 amended (Requirements for calculating instalment of tax credit)
184Section MF 7 amended (Orders in Council)
184BSection MK 2 amended (Eligibility requirements)
185Section MZ 3 amended (Exclusions from determination of family scheme income)
186Section OP 22 amended (Consolidated ICA group company’s credit)
187Section RA 13 amended (Payment dates for terminal tax)
188Section RB 3 amended (Schedular income tax liability for filing taxpayers for non-resident passive income)
189Section RC 3 amended (Who is required to pay provisional tax?)
190Section RC 5 amended (Methods for calculating provisional tax liability)
191Section RC 9 amended (Provisional tax payable in instalments)
192Section RC 10B amended (Calculating amount of instalment for periods using AIM method)
193Section RD 2 amended (PAYE rules and their application)
195Section RD 5 amended (Salary or wages)
196Section RD 7 amended (Extra pay)
197Section RD 8 amended (Schedular payments)
198New section RD 8B inserted (Treatment of PAYE-related overpayments)
RD 8BTreatment of PAYE-related overpayments
199Section RD 17 amended ( Payment of extra pay with other PAYE income payments)
200Section RD 22 amended (Providing employment income information to Commissioner)
201Section RD 35 amended (Employment-related loans: value using market interest rates)
202Section RD 64 amended (ESCT rules and their application)
203Section RE 1 amended (RWT rules and their application)
204Section RF 2B amended (Non-residential financial arrangement income: outline and concepts)
205Section RF 2C amended (Meaning of non-residential financial arrangement income)
205BSection RM 2 amended (Refunds for overpaid tax)
205CSection RM 2 amended (Refunds for overpaid tax)
205DSection RM 4 amended (Overpayment on amended assessment)
206Section RM 5 repealed (Overpayments on income statements)
207Section RM 16 amended (Treatment of amounts not refunded)
208Section RM 22 amended (Limits on refunds for Maori authorities)
209Section RM 25 amended (Treatment of amounts not refunded)
210Section RM 31 amended (Treatment of amounts not refunded)
211Section RP 14 amended (Collection, payment, and information requirements)
211BSection RP 17B amended (Tax pooling accounts and their use)
211CSection RP 19 amended (Transfers from tax pooling accounts)
211DSection RP 19B amended (Transfers for certain expected tax liabilities)
212Section RZ 14 amended (Listed PAYE intermediaries: transitional provision)
212BNew section RZ 15 inserted (Treatment of certain refunds made on income statements: 1 April 2008 to 31 March 2019)
RZ 15Treatment of certain refunds made on income statements: 1 April 2008 to 31 March 2019
212CNew section RZ 16 inserted (Treatment of certain refunds not paid within 4-year period: 1 April 2008 to 31 March 2013)
RZ 16Treatment of certain refunds not paid within 4-year period: 1 April 2008 to 31 March 2013
213Section YA 1 amended (Definitions)
213BSection YA 2 amended (Meaning of income tax varied)
214Section YC 12 amended (Public unit trusts)
214BSection YC 18 amended (Reverse takeovers)
214CSection YC 18B amended (Corporate reorganisations not affecting economic ownership)
214DSection YC 18C amended (Railways restructure not affecting Crown economic ownership)
214ESection YC 19B amended (Treatment when certain trusts terminated)
214FSection YD 4 amended (Classes of income treated as having New Zealand source)
214FBNew section YZ 5 inserted (New Zealand Memorial Museum Trust — Le Quesnoy: sunset)
YZ 5New Zealand Memorial Museum Trust — Le Quesnoy: sunset
214GNew schedules 18B and 18C inserted
215Schedule 19 amended (Expenditure in avoiding, remedying, or mitigating detrimental effects of discharge of contaminant)
216Schedule 28 amended (Requirements for complying fund rules)
217Schedule 29 amended (Portfolio investment entities: listed investors)
218Schedule 32 amended (Recipients of charitable or other public benefit gifts)
219New schedule 35 inserted (Public purpose Crown-controlled companies)
220Consequential amendments
Part 4
Amendments to other enactments
Goods and Services Tax Act 1985
221Goods and Services Tax Act 1985
222Section 2 amended (Interpretation)
223Section 2A amended (Meaning of associated persons)
223BSection 5 amended (Meaning of term supply)
224Section 6 amended (Meaning of term taxable activity)
225Section 10 amended (Value of supply of goods and services)
225BSection 11 amended (Zero-rating of goods)
225CSection 20 amended (Calculation of tax payable)
225DSection 20A amended (Goods and services tax incurred relating to determination of liability to tax)
226Section 21 amended (Adjustments for apportioned supplies)
227Section 53 amended (Registered person to notify change of status)
228Section 55 amended (Group of companies)
228BNew section 88 inserted (Valuation: non-profit body making certain supplies, deregistering, or acquiring certain assets of non-profit body)
88Valuation: non-profit body making certain supplies, deregistering, or acquiring certain assets of non-profit body
KiwiSaver Act 2006
229KiwiSaver Act 2006
230Section 4 amended (Interpretation)
230BSection 15 amended (Effect of automatic enrolment)
231Section 33 amended (Certain persons may opt in)
231BSection 36 amended (Effect of opting in by employees)
232Section 59A amended (When this subpart applies)
233Section 59B amended (Initial back-dated validation)
234Section 64 amended (Contribution rate)
234BSection 101C amended (Employee’s requirements)
234CSection 101G amended (Rules: providers)
235Section 104 amended (Granting of contributions holiday)
235BSection 112B amended (Non-deduction notices)
235CNew section 241 inserted (Protection from non-compliance: Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2018)
241Protection from non-compliance: Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2018
236Schedule 1 amended (KiwiSaver scheme rules)
4Withdrawal age
237Amendments to KiwiSaver Act 2006 related to nomenclature changes
Child Support Act 1991
238Child Support Act 1991
239Section 35 amended (Adjusted taxable income)
240Section 81 amended (Notification requirement of parents)
241Section 163 amended (Payment of deductions to Commissioner)
242Consequential amendments
Student Loan Scheme Act 2011
243Student Loan Scheme Act 2011
244Section 34 amended (Repayment codes for New Zealand-based borrowers who derive salary or wages)
245Section 35 amended (Borrowers with “SL” repayment code must notify employers)
246Section 36 amended (Employer or PAYE intermediary must make standard deductions from salary or wages)
247Section 57 amended (Consequences of exemption from standard deductions)
248Section 60 amended (When exemption from standard deductions ceases to apply)
249Schedule 2 amended (Application of PAYE rules for purposes of section 70)
Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018
250Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018
250BSection 6 amended (Section CB 6A (Disposal within 2 years: bright-line test for residential land))
250CSection 7 amended (Section CB 16A (Main home exclusion for disposal within 2 years))
250DSection 45 amended (Section DB 18A (Ring-fenced allocations: disposal of residential land within 2 years))
250ESection 46 amended (Section DB 18AB (Deduction cap: disposal of residential land within 2 years to associated persons))
250FSection 93 amended (Section FB 3A (Residential land))
250GSection 95 amended (Section FC 9 (Residential land transferred to executor, administrator, or beneficiary on death of person))
250HSection 107 amended (Section FO 10 (When property passes on resident’s restricted amalgamation))
250ISection 108 amended (Section FO 17 (Land))
250JSection 110 amended (Section GB 52 (Arrangements involving residential land: companies’ shares))
250KSection 111 amended (Section GB 53 (Arrangements involving residential land: trusts))
251Section 158 amended (Section LD 4 (Tax credits for payroll donations))
252Sections 186, 215, 263, 265, 266, 268, 271, and 283 repealed
252BSection 231 amended (Section RL 1 (Residential land withholding tax))
253Section 240 amended (Section RP 14 (Collection, payment, and information requirements))
254Section 243 amended (Section YA 1 (Definitions))
255Section 261 amended (Section 3 (Interpretation))
256Section 267 amended (Section 15L (Amended monthly schedules))
257Section 285 amended (Section 25A (Use of inconsistent RWT rates))
257BSection 321 amended (Section 54C (Information in relation to payment of RLWT))
258Schedule 2 amended (Consequential amendments to other enactments related to tax administration)
Taxation (Neutralising Base Erosion and Profit Shifting) Act 2018
258BSection 35 amended (New subpart FH inserted)
Families Package (Income Tax and Benefits) Act 2017
259Families Package (Income Tax and Benefits) Act 2017
260Section 2 amended (Commencement)
261Sections 48 to 51 and 57 repealed
Income Tax Act 2004
262Income Tax Act 2004
263Section KD 2AB amended (Parental tax credit)
264Section KD 2AB amended (Parental tax credit)
264BSection MD 1 amended (Refund of excess tax)
264CNew section MD 1B inserted (Treatment of certain refunds made on income statements: 2005–06, 2006–07, and 2007–08 income years)
MD 1BTreatment of certain refunds made on income statements: 2005–06, 2006–07, and 2007–08 income years
264DNew section MD 1C inserted (Treatment of certain refunds not paid within 4-year period: 2005–06, 2006–07, and 2007–08 income years)
MD 1CTreatment of certain refunds not paid within 4-year period: 2005–06, 2006–07, and 2007–08 income years
Other enactments
Accident Compensation Act 2001
265Schedule 4 amended (Deductions on account of earner levies)
Intelligence and Security Act 2017
266Section 135 amended (Meaning of restricted information)
Financial Advisers Act 2008
267Section 5 amended (Interpretation)
Financial Service Providers (Registration and Dispute Resolution) Act 2008
268Section 4 amended (Interpretation)
Income Tax Act 1994
269Section KD 2AB amended (Parental tax credit)
269BSection MD 1 amended (Refund of excess tax)
269CNew section MD 1B inserted (Treatment of certain refunds made on income statements: 2000–01, 2001–02, 2002–03, and 2003–04 income years)
MD 1BTreatment of certain refunds made on income statements: 2000–01, 2001–02, 2002–03, and 2003–04 income years
Taxation Review Authorities Act 1994
270Section 12 amended (Officers to maintain secrecy)
Taxation Review Authorities Regulations 1998
271Regulation 36 amended (Reports of decisions)
Tax Administration (Binding Rulings) Regulations 1999
272Tax Administration (Binding Rulings) Regulations 1999
273Regulation 2 amended (Interpretation)
274Regulation 3 amended (Fees)
275Regulation 5 amended (Indication of time for issue of ruling in certain cases)
276Regulation 6 amended (Waiver of fees)
Schedule 1
New schedules 7 and 8 inserted
Schedule 1B
New schedules 18B and 18C inserted
Schedule 2
New schedule 35 inserted
Schedule 3
Consequential amendments in certain Inland Revenue Acts
Schedule 4
Renumbered provisions of Tax Administration Act 1994
Schedule 5
Subsection headings for certain subparts of Tax Administration Act 1994
Schedule 6
Amendments to KiwiSaver Act 2006 related to nomenclature changes
Legislative history

The Parliament of New Zealand enacts as follows: