Section CW 50 — Income Tax Act 2007: Veterinary services bodies

CW 50 Veterinary services bodies Exempt income: veterinary clubs (1) An amount of income derived by a veterinary association, club, or society is exempt income if— (a) the association, club, or society was established mainly to promote efficient veterinary services in New Zealand; and (b) none of its funds is used or available to be used for the private pecuniary profit of a member, proprietor, shareholder, or associate of any of them. Exempt income: Veterinary Council (2) An amount of income derived by the Veterinary Council of New Zealand is exempt income. Defined in this Act: amount , associated person , exempt income , income , New Zealand , Compare: 2004 No 35 s CW 42