Section CV 11 — Income Tax Act 2007: Maori authorities

CV 11 Maori authorities Income (1) An amount that a member of a Maori authority derives as a distribution from the Maori authority is income of the member if the amount is— (a) a notional distribution under section HF 5 (Notional distributions of co-operative companies); or (b) a taxable Maori authority distribution under section HF 7 (Taxable Maori authority distributions). When credits attached (2) The amount of a taxable Maori authority distribution or notional distribution is increased by a credit that is attached or is treated as attached under section RE 24 (When amount of tax treated as Maori authority credit). Defined in this Act: amount , co-operative company , Maori authority , Maori authority credit , member , taxable Maori authority distribution , Compare: 2004 No 35 ss HI 4(3) , HI 5(2), (3) , HI 7