Statute
Section CW 58 — Income Tax Act 2007: Disposal of companies’ own shares
Text of the provision Official document
CW 58 Disposal of companies’ own shares An amount of income derived by a company from disposing of shares in the company is exempt income if— (a) the company acquired the shares; and (b) the acquisition was treated under section 67A(1) of the Companies Act 1993 as not resulting in the cancellation of the shares. Defined in this Act: amount , cancellation , company , exempt income , income , share , Compare: 2004 No 35 s CW 46
Official source: legislation.govt.nz
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