Section CC 9 — Income Tax Act 2007: Royalties

CC 9 Royalties Income (1) A royalty derived by a person is income of the person. Meaning of royalty (2) Royalty includes a payment of any kind derived as consideration for— (a) the use of, or right to use, a copyright, patent, plant variety rights, trademark, design or model, plan, secret formula or process, or other similar property or right: (b) the use of, or right to use, a mine or quarry: (c) the extraction, removal, or other exploitation of standing timber or a natural resource: (d) the right to extract, remove, or otherwise exploit standing timber or a natural resource: (e) the use of, or right to use, a film, a videotape, or a tape in connection with radio broadcasting: (f) the supply of scientific, technical, industrial, or commercial knowledge or information: (g) the total or partial forbearance of the use of, or the grant of a right to use, property or a right referred to in any of paragraphs (a) to (e): (h) the supply of assistance that enables the application or use of anything in any of paragraphs (a) to (f): (i) the total or partial forbearance of the supply of knowledge or information or assistance referred to in paragraph (f) or (h). Relevance of description of payment (3) For the purposes of subsection (2), none of the following is relevant: (a) how the payment is described or computed: (b) whether the payment is periodical or otherwise: (c) whether the payment is an instalment of the purchase price of real property: (d) whether the payment is an instalment of the purchase price of personal property. Defined in this Act: income , natural resource , pay , royalty , standing timber Compare: 2004 No 35 s CC 9 Section CC 9 list of defined terms natural resource : inserted (with effect on 1 April 2008), on 7 December 2009, by section 126 of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63).