Section RD 6 — Income Tax Act 2007: Certain benefits and payments

RD 6 Certain benefits and payments When this section applies (1) This section applies when an employee receives— (a) an accommodation benefit treated as income under section CE 1(1B) (Amounts derived in connection with employment); or (b) another benefit in kind that is included in their salary or wages; or (c) 1 or more of the following payments: (i) a superannuation payment: (ii) a pension: (iii) a retiring or other allowance: (iv) an annuity. Value or amount included in salary or wages (2) The value of the benefit or amount of the payment is treated as— (a) accruing from day to day; and (b) included in the employee’s salary or wages for the pay period or, as applicable, as part of their salary or wages for the pay period. When non-cash benefit treated as paid (3) If the employee receives the benefit otherwise than in cash, the value is treated as paid— (a) for a benefit that constitutes the only salary or wages of the employee, on the last day of the pay period; or (b) for all other benefits, when the last amount of salary or wages for the pay period is paid. Defined in this Act: accommodation , employee , employment , pay , pay period , salary or wages , Compare: 2004 No 35 s NC 4 Section RD 6(1)(a): substituted (with effect on 1 April 2008), on 6 October 2009, by section 505(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section RD 6(1)(a): amended (with effect on 1 April 2008), on 29 August 2011 (applying for the 2008–09 and later income years), by section 140(1) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section RD 6(1)(b): substituted (with effect on 1 April 2008), on 6 October 2009, by section 505(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section RD 6 list of defined terms accommodation : inserted (with effect on 1 April 2008), on 6 October 2009, by section 505(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).