Section RE 29 — Income Tax Act 2007: Establishing whether person holds certificate

RE 29 Establishing whether person holds certificate When this section applies (1) This section applies for the purposes of section RE 5(2) to set out the ways available to person A to establish whether person B is a person holding an RWT exemption certificate. Requirements (2) Person A may establish that— (a) they have taken reasonable steps to confirm that person B is a person listed in section 32E(2)(a) to (h) of the Tax Administration Act 1994; or (b) except in relation to a person listed in section 32E(2)(k) or (l) or to whom a certificate has been provided under section 32I , they have been given person B’s tax file number and have been notified that person B holds an RWT exemption certificate; or (c) they have seen person B’s certificate and have taken reasonable steps to confirm that person B is the person named in the certificate. Additional requirements (3) In addition to the requirements of subsection (2), the following requirements must be met in relation to person B’s RWT exemption certificate: (a) no notice of cancellation has been published in the Gazette — (i) for interest, more than 5 working days before the date on which the money was lent: (ii) for a dividend or a taxable Maori authority distribution, more than 5 working days before the date on which payment was made: (b) person A has not been advised by the Commissioner or person B of a cancellation of a certificate more than 5 working days before the date on which payment is made: (c) person A has no other grounds for believing that person B is not eligible for a certificate. Later certificate (4) For the purposes of subsection (3)(a) and (b), if a notice of cancellation has been published or if person A has been advised as described, the requirements are still met if— (a) a certificate has been provided to person B and notified in the Gazette in the period that is after the notice of cancellation and more than 5 working days before the date on which the payment is made; or (b) person A has seen a certificate provided to person B after the date of publication of the notice of cancellation. When person B listed or income of particular type (5) For the purposes of this section, person A has no ground for believing that the payment is income derived by a person other than person B when— (a) person B is a person listed in section 32E(2)(a) to (h) of the Tax Administration Act 1994; and (b) the payment is not interest, a dividend, or a taxable Maori authority distribution derived by person B as trustee on behalf of a third person. Defined in this Act: Commissioner , dividend , income , interest , notice , notify , pay , RWT exemption certificate , tax file number , taxable Maori authority distribution , trustee , working day , Compare: 2004 No 35 s NF 2(7)