Section EX 41 — Income Tax Act 2007: Income interest of non-resident or transitional resident

EX 41 Income interest of non-resident or transitional resident Categories 2 and 3 (1) Subsection (2) applies only to rights described in section EX 29(3) or (4) . Exemption for non-resident or transitional resident (2) A person’s rights in a FIF at any time are not an attributing interest if— (a) the person is a natural person; and (b) the person acquires the rights when a non-resident or transitional resident; and (c) at the time, the person is a non-resident or transitional resident. Defined in this Act: attributing interest , FIF , income year , New Zealand resident , non-resident , transitional resident , Compare: 2004 No 35 s EX 35