Section DB 35 — Income Tax Act 2007: Some definitions

DB 35 Some definitions Definitions (1) In this section, and in section DB 34 ,— development is defined in paragraph 8 of the reporting standard new reporting standard means the New Zealand Equivalent to International Accounting Standard 38, approved or issued under the Financial Reporting Act 1993 , and as amended from time to time or an equivalent standard issued in its place old reporting standard means Financial Reporting Standard No 13 1995 (Accounting for Research and Development Activities) being the standard approved under the Financial Reporting Act 1993 , or an equivalent standard issued in its place, that applies in the tax year in which the expenditure is incurred research is defined in paragraph 8 of the reporting standard. Meaning of research or development: modification by Order in Council (2) The Governor-General may make an Order in Council specifying— (a) a kind of expenditure that is not expenditure on research or development for the purposes of section DB 34 : (b) an activity that is neither research nor development for the purposes of section DB 34 : (c) the date from which the expenditure or the activity is excluded from being research or development. Defined in this Act: development , income year , new reporting standard , old reporting standard , research , Compare: 2004 No 35 s DB 27 Section DB 35(1): substituted, on 1 April 2008, by section 339 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section DB 35(1) new reporting standard : inserted (with effect on 1 April 2008), on 7 December 2009, by section 12 of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63). Section DB 35(1) new reporting standard : amended, on 1 July 2011, by section 12 of the Financial Reporting Amendment Act 2011 (2011 No 22). Section DB 35(1) old reporting standard : inserted (with effect on 1 April 2008), on 7 December 2009, by section 12 of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63). Section DB 35(1) reporting standard : repealed (with effect on 1 April 2008), on 7 December 2009, by section 12 of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63). Section DB 35(1) list of defined terms new reporting standard : inserted (with effect on 1 April 2008), on 7 December 2009, by section 126 of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63). Section DB 35(1) list of defined terms old reporting standard : inserted (with effect on 1 April 2008), on 7 December 2009, by section 126 of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63). Section DB 35(1) list of defined terms reporting standard : repealed (with effect on 1 April 2008), on 7 December 2009, by section 126 of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63).