Section CW 33 — Income Tax Act 2007: Allowances and benefits

CW 33 Allowances and benefits Exempt income (1) The following are exempt income: (a) a monetary benefit under the Social Security Act 1964 , except an income-tested benefit: (b) a payment under Part 5 or 13 of the Accident Insurance Act 1998, or under Part 11 of the Accident Compensation Act 2001, of any of the following kinds: (i) a payment to an insured person for treatment or rehabilitation: (ii) an independence allowance: (iii) a funeral grant: (iv) a survivor’s grant: (v) a childcare payment: (c) a participation allowance under regulations made under the Social Security Act 1964 : (d) a disabled workshop payment: (e) an amount derived by a trustee of a trust created for the benefit of persons harmed by thalidomide, or a distribution to a beneficiary from the trust: (f) an amount derived by a trustee of the New Zealand Agent Orange Trust that represents the settlement fund and income attributable to the fund, or a distribution to a beneficiary from the trust. Meaning of disabled workshop payment (2) In this section, disabled workshop payment means a payment to a disabled person for undertaking therapeutic activities in a sheltered workshop, as defined in the Disabled Persons Employment Promotion Act 1960, or in a similar workshop, if the average amount paid in a tax year is $50 or less per week. Defined in this Act: amount , disabled workshop payment , exempt income , income , income-tested benefit , pay , tax year , trustee , Compare: 2004 No 35 s CW 27 Section CW 33(1)(b): amended, on 21 December 2010, by section 189 of the Taxation (GST and Remedial Matters) Act 2010 (2010, No 130).