Income Tax (Ngāpuhi Investment Fund Limited) Order 2020

2020/308

Coat of Arms of New Zealand

Income Tax (Ngāpuhi Investment Fund Limited) Order 2020

Patsy Reddy, Governor-General

Order in Council

At Wellington this 14th day of December 2020

Present:
The Right Hon Jacinda Ardern presiding in Council

This order is made under section CW 38B(4)(a) of the Income Tax Act 2007—

(a)

on the advice and with the consent of the Executive Council; and

(b)

on the recommendation of the Minister of Revenue.

Order

1 Title

This order is the Income Tax (Ngāpuhi Investment Fund Limited) Order 2020.

2 Commencement

This order comes into force on 18 December 2020.

3 Schedule 35 of Income Tax Act 2007 amended

In the Income Tax Act 2007, Schedule 35, insert in its appropriate alphabetical order:

Ngāpuhi Investment Fund Limited

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 comes into force on 18 December 2020. It adds the name of the company Ngāpuhi Investment Fund Limited to Schedule 35 of the Income Tax Act 2007. Adding the company’s name makes it a public purpose Crown-controlled company under that Act.

Public purpose Crown-controlled companies have their own income tax exemption. They are also public authorities under the Goods and Services Tax Act 1985, which helps ensure that they can claim goods and services tax input credits.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 17 December 2020.

This order is administered by the Inland Revenue Department.