Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2016–17 Income Year) Order 2017

  • revoked
  • Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2016–17 Income Year) Order 2017: revoked, on 22 June 2018, by clause 3 of the Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2017–18 Income Year) Order 2018 (LI 2018/100).

Reprint as at 22 June 2018

Coat of Arms of New Zealand

Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2016–17 Income Year) Order 2017

(LI 2017/178)

Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2016–17 Income Year) Order 2017: revoked, on 22 June 2018, by clause 3 of the Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2017–18 Income Year) Order 2018 (LI 2018/100).

Patsy Reddy, Governor-General

Order in Council

At Wellington this 31st day of July 2017

Present:
Her Excellency the Governor-General in Council

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 order is administered by the Inland Revenue Department.

This order is made under section EX 55 of the Income Tax Act 2007 and section 225(1)(f) of the Tax Administration Act 1994 on the advice and with the consent of the Executive Council.

Order

1 Title

This order is the Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2016–17 Income Year) Order 2017.

2 Deemed rate of return on attributing interests in foreign investment funds for 2016–17 income year

The deemed rate of return applying for the 2016–17 income year for the purposes of section EX 55(4)(b) and (6)(c) of the Income Tax Act 2007 is 6.28%.

Michael Webster,
Clerk of the Executive Council.

Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order sets, for the 2016–17 income year, the deemed rate of return used to calculate foreign investment fund income under the deemed rate of return calculation method set out in section EX 55 of the Income Tax Act 2007.

This order sets the deemed rate of return for the 2016–17 income year at 6.28%. The deemed rate of return set for the 2015–16 income year was 6.77%.

This order also revokes the Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2015–16 Income Year) Order 2016.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 3 August 2017.

Reprints notes
1 General

This is a reprint of the Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2016–17 Income Year) Order 2017 that incorporates all the amendments to that order as at the date of the last amendment to it.

2 Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes

Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.

4 Amendments incorporated in this reprint

Income Tax (Deemed Rate of Return on Attributing Interests in Foreign Investment Funds, 2017–18 Income Year) Order 2018 (LI 2018/100): clause 3