Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section OD 6 — CTRA transfer from FDP account
OD 6 CTRA transfer from FDP account [Repealed] Section OD 6: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 99(1) of…
Section OE 6 — BETA payment of income tax on foreign income
OE 6 BETA payment of income tax on foreign income [Repealed] Section OE 6: repealed, on 1 July 2012 (applying for income years beginning on or after that date), by section 105(2) of the Taxation…
Section OJ 6 — PCA credit for maximum deficit in FDP account
OJ 6 PCA credit for maximum deficit in FDP account [Repealed] Section OJ 6: repealed, on 1 July 2010, by section 439(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters)…
Section OK 6 — MACA dividend derived with imputation credit
OK 6 MACA dividend derived with imputation credit Credit (1) A Maori authority has a Maori authority credit for the amount of an imputation credit attached to a dividend derived by the Maori…
Section OP 6 — Provisions applying to consolidated imputation groups
OP 6 Provisions applying to consolidated imputation groups Single company, tax liabilities (1) The provisions listed in subsection (2) apply, modified as necessary, to a consolidated imputation group…
Section OZ 6 — ASCA redemption of unused investments
OZ 6 ASCA redemption of unused investments When this section applies (1) The section applies when a public unit trust or a group investment fund that derives category A income— (a) redeems a share…
Section RA 6 — Withholding and payment obligations for passive income
RA 6 Withholding and payment obligations for passive income Resident passive income (1) A person who makes a payment of resident passive income must withhold and pay RWT for the payment to the…
Section RC 6 — Standard method
RC 6 Standard method When this section applies (1) This section applies to a person liable to pay provisional tax for the purposes of section RC 5(2) and (3) and the calculation of the amount of…
Section RD 6 — 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…
Section RE 6 — When obligation to withhold unreasonable
RE 6 When obligation to withhold unreasonable When this section applies (1) This section applies when a person ( person A ) who is a person listed in a paragraph in section 32E(2)(a) to (h) of the…
Section RF 6 — When amounts of tax not withheld or partly withheld
RF 6 When amounts of tax not withheld or partly withheld Person as filing taxpayer (1) When a person is required under section RA 6(2) (Withholding and payment obligations for passive income) to…
Section RG 6 — Using loss balances
RG 6 Using loss balances [Repealed] Section RG 6: 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 6 — Calculating amounts of tax on failure to withhold
RH 6 Calculating amounts of tax on failure to withhold When this section applies (1) This section applies when a retirement scheme contributor or retirement savings scheme does not withhold an amount…
Section RM 6 — Refunds after 4-year period ends
RM 6 Refunds after 4-year period ends When this section applies (1) This section applies when a person has overpaid either an amount of tax or FDP, and the 4-year period referred to in sections RM…
Section RP 6 — Operation of PAYE intermediaries’ trust accounts
RP 6 Operation of PAYE intermediaries’ trust accounts Nature of account (1) A PAYE intermediary’s trust account must be named as a trust account and established at a registered bank within the…
Section RZ 6 — Limits on refunds: transitional dates
RZ 6 Limits on refunds: transitional dates ICA companies (1) If an imputation credit account (ICA) company has a refund of income tax, and an amount paid in excess is dealt with under section RM…
Section Sch6-1 — PIE investments
1 PIE investments The prescribed investor rate for a person who is an investor in a multi-rate PIE is set out in table 1. Table 1 Row Conditions Prescribed rate 1 For a natural person who is resident…
Section Sch6-2 — Retirement scheme contributions
2 Retirement scheme contributions The retirement scheme prescribed rate for a person in relation to a retirement scheme contribution made for them is set out in table 2. Table 2 Row Conditions…
Section YB 6 — Trustee and beneficiary
YB 6 Trustee and beneficiary Association (1) A trustee of a trust and a person who has benefited or is eligible to benefit under the trust are associated persons. Land provisions (2) This section…
Section YC 6 — Disregarding certain securities
YC 6 Disregarding certain securities When this section applies (1) This section applies for the purposes of sections YC 2 to YC 5 if— (a) a company has issued an excluded fixed rate security: (b) an…
Section YD 6 — Apportionment of income from sea transport
YD 6 Apportionment of income from sea transport When this section applies (1) This section applies when a non-resident derives an amount of income from transporting people or property by sea from New…
Section ZA 6 — Comparative tables of old and new provisions
ZA 6 Comparative tables of old and new provisions Schedule 52 (1) Schedule 52 (Comparative tables of old and rewritten provisions) sets out corresponding provisions in the Income Tax Act 2004 , the…
Section CT 6B — Meaning of petroleum mining operations
CT 6B Meaning of petroleum mining operations Meaning (1) Petroleum mining operations means an activity included in those described in subsection (2) and not excluded by subsection (3). Activities:…
Section FE 6B — Alternative apportionment of interest by some excess debt entities
FE 6B Alternative apportionment of interest by some excess debt entities Who this section applies to (1) This section applies to a company or person that is required by section FE 5(1D) to apportion…
Section HM 6B — Optional look-through rules for certain PIEs
HM 6B Optional look-through rules for certain PIEs When this section applies (1) This section applies when a PIE (a retail PIE ) is a zero-rated investor in another PIE (a wholesale PIE ).…
Section OK 6B — MACA attributed PIE income with imputation credit
OK 6B MACA attributed PIE income with imputation credit Credit (1) A Maori authority that is an investor in a multi-rate PIE has a Maori authority credit for the amount of an imputation credit…
Section RA 6B — Withholding and payment obligations for retirement scheme contributions
RA 6B Withholding and payment obligations for retirement scheme contributions A person who makes a contribution to a retirement savings scheme must withhold and pay RSCT for the contribution to the…
Section Sch6-1B — Foreign investment variable-rate PIEs and notified foreign investors
1B Foreign investment variable-rate PIEs and notified foreign investors A foreign investment variable-rate PIE must apply the prescribed investor rates set out in table 1B in relation to income…
Section BC 7 — Income tax liability of person with schedular income
BC 7 Income tax liability of person with schedular income Modified income tax liability (1) The income tax liability for a tax year of a person who has schedular income for the year is the total of—…
Section CB 7 — Disposal: land acquired for purposes of business relating to land
CB 7 Disposal: land acquired for purposes of business relating to land Income (1) An amount that a person ( person A ) derives from disposing of land is income of person A if— (a) both the following…
Section CC 7 — Consideration other than in money
CC 7 Consideration other than in money When this section applies (1) This section applies when— (a) a lender provides money to a borrower for use in a business that the borrower carries on in New…
Section CD 7 — Bonus issues in lieu of dividend
CD 7 Bonus issues in lieu of dividend Bonus issues in lieu (1) A bonus issue in lieu is a dividend. Amount of dividend (2) The amount of the dividend is the money or money’s worth offered as an…
Section CE 7 — Meaning of share purchase agreement
CE 7 Meaning of share purchase agreement In sections CE 1 to CE 4 , share purchase agreement means an agreement to sell or issue shares in a company to an employee that is entered into in connection…
Section CG 7 — Recoveries after deduction of payments under lease
CG 7 Recoveries after deduction of payments under lease When this section applies (1) This section applies, for the purposes of section FA 5 (Assets acquired and disposed of after deduction of…
Section CH 7 — Adjustment for avoidance arrangements
CH 7 Adjustment for avoidance arrangements An amount treated as income of a person under any of the following sections is income of the person: (a) section GA 1 (Commissioner’s power to adjust): (b)…
Section CQ 7 — Treatment of attributing interests subject to returning share transfer
CQ 7 Treatment of attributing interests subject to returning share transfer [Repealed] Section CQ 7: repealed on 6 October 2009, by section 31 of the Taxation (International Taxation, Life Insurance,…
Section CS 7 — Exclusion of withdrawal when member ends employment
CS 7 Exclusion of withdrawal when member ends employment [Repealed] Section CS 7: repealed, on 1 April 2011, by section 12 of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver,…
Section CT 7 — Meaning of petroleum mining asset
CT 7 Meaning of petroleum mining asset Meaning (1) Petroleum mining asset means— (a) a petroleum permit: (b) an asset that— (i) is acquired by a petroleum miner for the purpose of carrying on an…
Section CU 7 — Compensation and scrap payment: not income from mining
CU 7 Compensation and scrap payment: not income from mining When, under sections CU 4 and CU 6 , this section applies, neither of the following amounts is income from mining of the mining company:…
Section CV 7 — Australian wine producer rebate
CV 7 Australian wine producer rebate An amount of Australian wine producer rebate derived by a New Zealand resident wine producer is income of the wine producer. Defined in this Act: amount ,…
Section CW 7 — Foreign-sourced interest
CW 7 Foreign-sourced interest Interest that a person derives from a country or territory outside New Zealand is exempt income if— (a) the person was not resident in New Zealand during the period for…
Section CX 7 — Employer or associated person treated as having right to use vehicle under arrangement
CX 7 Employer or associated person treated as having right to use vehicle under arrangement When this section applies (1) This section applies for the application of the fringe benefit tax (FBT)…
Section CZ 7 — Primary producer co-operative companies: 1987–88 income year
CZ 7 Primary producer co-operative companies: 1987–88 income year Income: sale of asset (1) If a primary producer co-operative company disposes of an asset for which the company was allowed a…
Section DB 7 — Interest: most companies need no nexus with income
DB 7 Interest: most companies need no nexus with income Deduction (1) A company is allowed a deduction for interest incurred. Exclusion: qualifying company (2) Subsection (1) does not apply to a…
Section DC 7 — Contributions to employees’ superannuation schemes
DC 7 Contributions to employees’ superannuation schemes Deduction (1) An employer is allowed a deduction for a superannuation contribution to an employees’ superannuation scheme. Exclusion [Repealed]…
Section DD 7 — Entertainment outside New Zealand
DD 7 Entertainment outside New Zealand The limitation rule does not apply to a deduction for expenditure on entertainment that is enjoyed or consumed outside New Zealand. Defined in this Act:…
Section DE 7 — Logbook requirements
DE 7 Logbook requirements Test period (1) When a logbook is used to establish the proportion of business use of a motor vehicle, a person must select a start date, and keep the logbook for at least…
Section DN 7 — Calculation of FIF loss
DN 7 Calculation of FIF loss The amount of a FIF loss is calculated, using the relevant calculation method, under sections EX 44 to EX 61 (which relate to the calculation of FIF income or loss).…
Section DO 7 — Accounting for expenditure on listed horticultural plants under sections DO 5 and DO 6
DO 7 Accounting for expenditure on listed horticultural plants under sections DO 5 and DO 6 Separate accounting for additional listed horticultural plants if deduction under section DO 6 (1) A person…
Section DP 7 — Land contouring: no deduction
DP 7 Land contouring: no deduction No deduction (1) A person who derives income under section CB 24 (Disposal of timber or right to take timber) or CB 25 (Disposal of land with standing timber) is…