Section CZ 23-dup2 — Income Tax Act 2007: Employee benefits for Canterbury earthquake relief: exempt income

CZ 23 Employee benefits for Canterbury earthquake relief: exempt income Exempt income (1) Income derived by an employee from an employer is exempt income to the extent given by subsection (2) if the income— (a) would be assessable income in the absence of this section; and (b) is provided by the employer for the purpose of relief of employees from the adverse effects of a Canterbury earthquake, as defined in section 4 of the Canterbury Earthquake Recovery Act 2011, of 4 September 2010 or 22 February 2011; and (c) is derived in the period of 8 weeks beginning on the day of that Canterbury earthquake; and (d) does not replace a PAYE income payment; and (e) does not depend on the seniority of the employee; and (f) is available to another employee, who is not an associated person of the employer and is or was immediately before a Canterbury earthquake in full-time employment with the employer, if the employee is an associated person of the employer; and (g) is treated by the employer as being exempt income for the employee. Extent of exemption (2) Income satisfying subsection (1) is exempt income to the extent that the income is— (a) accommodation as defined in section CE 1(2) (Amounts derived in connection with employment): (b) less than or equal to $3,200 in total, if the income is in a form other than accommodation. Defined in this Act: assessable income , employee , employer , exempt income , fringe benefit , income Section CZ 23: inserted (with effect on 4 September 2010), on 24 May 2011, by section 4 of the Taxation (Canterbury Earthquake Measures) Act 2011 (2011 No 24).