Section RF 12C — Income Tax Act 2007: Amount derived from non-resident life insurer becoming resident

RF 12C Amount derived from non-resident life insurer becoming resident When this section applies (1) This section applies when an amount of non-resident passive income is— (a) derived by a life insurer from a company resident in New Zealand; and (b) treated as income as a result of the granting of the insurer's application under section EY 49 (Non-resident life insurer becoming resident). Zero-rating (2) The rate of NRWT payable on the amount is 0%. Defined in this Act: amount , company , life insurer , New Zealand , non-resident passive income , NRWT , pay , resident in New Zealand Compare: 2004 No 35 s NG 2(1)(b)(iii) Section RF 12C: inserted (with effect on 1 April 2008), on 6 October 2009, by section 536(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).