Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section RD 3 — PAYE income payments
RD 3 PAYE income payments Meaning generally (1) The PAYE rules apply to a PAYE income payment which— (a) means— (i) a payment of salary or wages, see section RD 5 ; or (ii) extra pay, see section RD…
Section RE 3 — Obligation to withhold RWT
RE 3 Obligation to withhold RWT Obligation to withhold and pay (1) A person to whom section RE 1(2) applies is liable to withhold resident withholding tax (RWT) and pay the amount to the Commissioner…
Section RF 3 — Obligation to withhold amounts of tax for non-resident passive income
RF 3 Obligation to withhold amounts of tax for non-resident passive income Withholding amount of tax (1) A person who makes a payment of non-resident passive income must withhold the amount of tax…
Section RG 3 — Obligation to pay FDP
RG 3 Obligation to pay FDP [Repealed] Section RG 3: repealed (with effect on 30 June 2009), on 6 October 2009, by section 540(1) of the Taxation (International Taxation, Life Insurance, and Remedial…
Section RH 3 — Retirement savings schemes
RH 3 Retirement savings schemes Requirements for entity (1) An entity is a retirement savings scheme for a person if the entity— (a) is a portfolio investment entity; and (b) holds funds from a…
Section RM 3 — Refunds for overpaid FDP
RM 3 Refunds for overpaid FDP If a company pays to the Commissioner FDP in relation to a foreign dividend paid to it, and the amount is more than the amount required to be paid under this Part, the…
Section RP 3 — Requirements for listed PAYE intermediaries
RP 3 Requirements for listed PAYE intermediaries For a period in which a person remains a listed PAYE intermediary, they must— (a) continue to qualify under section 15D of the Tax Administration Act…
Section RZ 3 — Standard method: 2010–11 to 2012–13 income years
RZ 3 Standard method: 2010–11 to 2012–13 income years When this section applies (1) This section applies to the calculation of a person's provisional tax liability, when section RC 5 (Methods for…
Section Sch3 — Payment of provisional tax and terminal tax
Schedule 3 Payment of provisional tax and terminal tax ss EF 3 , RA 13 , RA 14 , RC 1 , RC 21 , RC 25 , RM 24 , YA 1 Part A Dates for payment of provisional tax and terminal tax Month of balance date…
Section YA 3 — Treatment of qualifying company election tax, FBT, FDP penalty tax, imputation penalty tax, and withdrawal tax
YA 3 Treatment of qualifying company election tax, FBT, FDP penalty tax, imputation penalty tax, and withdrawal tax [Repealed] Section YA 3: repealed (with effect on 1 April 2008), on 6 October 2009,…
Section YB 3 — Company and person other than company
YB 3 Company and person other than company Company and 25% voting interest holder (1) A company and a person other than a company are associated persons if the person has a voting interest in the…
Section YC 3 — Market value interests
YC 3 Market value interests Percentage of market value (1) A person’s market value interest in a company equals the percentage of the total market value of shares and options over shares in the…
Section YD 3 — Country of residence of foreign companies
YD 3 Country of residence of foreign companies When this section applies (1) This section applies for the purposes of the international tax rules to determine the country in which a foreign company…
Section YZ 3 — Saving effect of section DF 5 of Income Tax Act 1994
YZ 3 Saving effect of section DF 5 of Income Tax Act 1994 When this section applies (1) This section applies when a person— (a) has made a payment to which section DC 1 (Lump sum payments on…
Section ZA 3 — Transitional provisions
ZA 3 Transitional provisions When reference to this Act includes earlier Act (1) A reference in an enactment or document to this Act, or to a provision of it, is to be interpreted as a reference to…
Section CW 3B — Pre-1990 forest land units: emissions trading scheme
CW 3B Pre-1990 forest land units: emissions trading scheme [Repealed] Section CW 3B: repealed (with effect on 26 September 2008), on 6 October 2009, by section 40 of the Taxation (International…
Section DB 3B — Use of money interest
DB 3B Use of money interest Deduction (1) A person is allowed a deduction for an amount of interest they are liable to pay under Part 7 of the Tax Administration Act 1994. Timing of deduction (2) The…
Section DC 3B — Payments to working owners
DC 3B Payments to working owners Deduction (1) A person who has an effective look-through interest for a look-through company (an owner ) is allowed a deduction for their share of a payment made…
Section GC 3B — Disposals of emissions units
GC 3B Disposals of emissions units When section GC 1 applies (1) Section GC 1 applies to a disposal of an emissions unit as if the emissions unit were trading stock. Exclusions (2) Section GC 1 does…
Section OB 3B — General rule for life insurer's policyholder base
OB 3B General rule for life insurer's policyholder base An imputation credit does not arise in relation to a life insurer's policyholder base. Similarly, an imputation debit does not arise in…
Section YD 3B — Crown
YD 3B Crown For the purposes of this Act and for the avoidance of doubt, Her Majesty the Queen in right of New Zealand is regarded as resident in New Zealand. Defined in this Act: New Zealand ,…
Section AA 4 — Crown bound
AA 4 Crown bound This Act binds the Crown.
Section BC 4 — Net income and net loss
BC 4 Net income and net loss Income more than deductions (1) If, for a tax year, a person's annual gross income is more than their annual total deduction, the difference is their net income for the…
Section BD 4 — Allocation of deductions to particular income years
BD 4 Allocation of deductions to particular income years Application (1) Every deduction must be allocated to an income year under this section. General rule (2) A deduction for an amount of…
Section CB 4 — Personal property acquired for purpose of disposal
CB 4 Personal property acquired for purpose of disposal An amount that a person derives from disposing of personal property is income of the person if they acquired the property for the purpose of…
Section CC 4 — Payments of interest
CC 4 Payments of interest Income (1) Interest derived by a person is income of the person. Apportionment (2) Interest due but unpaid on the date on which a person disposes of a security is…
Section CD 4 — Transfers of value generally
CD 4 Transfers of value generally Transfers of value from company (1) A transfer of value from a company to a person is a dividend if— (a) the cause of the transfer is a shareholding in the company,…
Section CE 4 — Adjustments to value of benefits under share purchase agreements
CE 4 Adjustments to value of benefits under share purchase agreements The Commissioner may at any time adjust the previously determined value of a benefit under a share purchase agreement if the…
Section CG 4 — Receipts for expenditure or loss from insurance, indemnity, or otherwise
CG 4 Receipts for expenditure or loss from insurance, indemnity, or otherwise When this section applies (1) This section applies when— (a) a person is allowed a deduction for expenditure or loss; and…
Section CH 4 — Adjustment for change to accounting practice
CH 4 Adjustment for change to accounting practice When this section applies (1) This section applies when a person has, under section EG 2(2)(a) or (3)(a) (Adjustment for changes to accounting…
Section CQ 4 — Foreign investment fund income
CQ 4 Foreign investment fund income FIF income of a person is income. Defined in this Act: FIF income , income Compare: 2004 No 35 s CQ 4
Section CR 4 — Income for general insurance outstanding claims reserve
CR 4 Income for general insurance outstanding claims reserve What this section applies to (1) This section applies for— (a) an insurer who–– (i) uses IFRS 4, Appendix D for general insurance…
Section CS 4 — Exclusion of withdrawal to settle division of relationship property
CS 4 Exclusion of withdrawal to settle division of relationship property [Repealed] Section CS 4: repealed, on 1 April 2011, by section 12 of the Taxation (Annual Rates, Trans-Tasman Savings…
Section CT 4 — Partnership interests and disposal of part of asset
CT 4 Partnership interests and disposal of part of asset In this subpart, and in sections CX 42 (Disposal of ownership interests in controlled petroleum mining entities) and CX 43 (Farm-out…
Section CU 4 — Compensation for lost, destroyed, or damaged assets
CU 4 Compensation for lost, destroyed, or damaged assets When sections CU 5 to CU 8 apply (1) Sections CU 5 to CU 8 apply when— (a) a mining company acquires an asset by incurring mining exploration…
Section CV 4 — Amalgamated companies: amount derived after amalgamation
CV 4 Amalgamated companies: amount derived after amalgamation When this section applies (1) This section applies for the purposes of section FO 7 (Income derived after amalgamation) when an amount is…
Section CW 4 — Annuities under life insurance policies
CW 4 Annuities under life insurance policies When this section applies (1) This section applies when— (a) a person is paid an annuity under a life insurance policy offered or entered into in New…
Section CX 4 — Relationship with assessable income
CX 4 Relationship with assessable income To the extent to which a benefit that an employer provides to an employee in connection with their employment is assessable income, the benefit is not a…
Section CZ 4 — Mineral mining: company making loan before 1 April 1979
CZ 4 Mineral mining: company making loan before 1 April 1979 When this section applies (1) This section applies when sections CU 17 to CU 19 (which relate to the repayment by a mining company of an…
Section DA 4 — Treatment of amount of depreciation loss
DA 4 Treatment of amount of depreciation loss The capital limitation does not apply to an amount of depreciation loss merely because the item of property is itself of a capital nature. Defined in…
Section DB 4 — Chatham Islands dues
DB 4 Chatham Islands dues Deduction (1) A person is allowed a deduction for expenditure incurred on dues levied under the Chatham Islands Council Act 1995 that relate to goods that the person uses in…
Section DC 4 — Payments to working partners
DC 4 Payments to working partners Deduction (1) A person who is a partner in a partnership is allowed a deduction for their share of a payment made under a contract of service to a partner who…
Section DD 4 — Employment-related activities
DD 4 Employment-related activities Business travel expenditure (1) The limitation rule does not apply to a deduction for expenditure on food or drink consumed by a person while travelling in the…
Section DE 4 — Default method for calculating proportion of business use
DE 4 Default method for calculating proportion of business use When this section applies (1) This section applies when— (a) a person has not maintained actual records to show the proportion of…
Section DF 4 — Payments for social rehabilitation
DF 4 Payments for social rehabilitation When this section applies (1) This section applies when a person is paid under the Accident Compensation Act 2001 a personal service rehabilitation payment for…
Section DN 4 — Ring-fencing cap on deduction
DN 4 Ring-fencing cap on deduction Amount of deduction: CFC not elective attributing CFC (1) The deduction that a person is allowed in an income year for an attributed CFC loss from a CFC (the first…
Section DO 4 — Improvements to farm land
DO 4 Improvements to farm land When this section applies (1) This section applies when— (a) a person carries on a farming or agricultural business on land in New Zealand; and (b) an improvement…
Section DP 4 — Improvement destroyed or made useless
DP 4 Improvement destroyed or made useless When this section applies (1) This section applies when, in an income year of a person,— (a) the person operates a forestry business on land, to which there…
Section DQ 4 — Environmental restoration accounts scheme
DQ 4 Environmental restoration accounts scheme Deduction for payment (1) A person is allowed a deduction of the amount set out in section EK 7 (Deduction for payment) if the person has made a payment…
Section DR 4 — Life insurers' claims reserves
DR 4 Life insurers' claims reserves No deduction on account of claims (1) For a life insurer's life insurance policies, the life insurer is denied a deduction relating to the life insurer's…