Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section DC 8 — Attribution of personal services
DC 8 Attribution of personal services When this section applies (1) This section applies when, under sections GB 27 to GB 29 (which relate to the attribution rule for income from personal services),…
Section DD 8 — Entertainment that is income or fringe benefit
DD 8 Entertainment that is income or fringe benefit The limitation rule does not apply to a deduction for expenditure on entertainment that is— (a) income of the person who consumes it; or (b) a…
Section DE 8 — Logbook term
DE 8 Logbook term Meaning of logbook term (1) A logbook term is a period to which the proportion of business use of a motor vehicle established by the logbook applies. The term lasts up to 3 years…
Section DN 8 — Ring-fencing cap on deduction: attributable FIF income method
DN 8 Ring-fencing cap on deduction: attributable FIF income method Amount of deduction: FIF not elective attributing FIF (1) The deduction that a person is allowed in an income year for a FIF loss…
Section DO 8 — Meaning of planting and plot
DO 8 Meaning of planting and plot In this section and sections DO 5 to DO 7 ,— planting for a person and an income year means 1 or more listed horticultural plants— (a) that are involved in the…
Section DP 8 — Forestry business on land bought from the Crown, Maori owners, or holding company: no deduction
DP 8 Forestry business on land bought from the Crown, Maori owners, or holding company: no deduction No deduction: forestry company (1) A forestry company is denied a deduction for interest to which…
Section DT 8 — Acquisition of certain petroleum mining assets
DT 8 Acquisition of certain petroleum mining assets The consideration that a person pays to acquire a petroleum mining asset, other than an existing privilege, a prospecting permit for petroleum, or…
Section DU 8 — Meaning of asset for sections DU 1 to DU 7
DU 8 Meaning of asset for sections DU 1 to DU 7 Mining company’s share or interest in asset (1) Sections DU 1 to DU 7 apply to a share or interest that a mining company has in an asset— (a) to the…
Section DV 8 — Non-profit organisations
DV 8 Non-profit organisations When this section applies (1) This section applies when an incorporated or unincorporated organisation— (a) does not have the purpose of making a profit for a…
Section DZ 8 — Buying patent rights before 1 April 1993
DZ 8 Buying patent rights before 1 April 1993 When this section applies (1) This section applies when a person buys patent rights before 1 April 1993 and uses them in deriving their income. In this…
Section EB 8 — Cost allocation: budgeted method or standard cost method
EB 8 Cost allocation: budgeted method or standard cost method When this section applies (1) This section applies when a person— (a) has a business of manufacturing or producing trading stock; and (b)…
Section EC 8 — Restrictions arising from use of herd scheme
EC 8 Restrictions arising from use of herd scheme Herd scheme: first restriction on use of other method (1) A valuation method other than the herd scheme is not available to a person, in an income…
Section EE 8 — Election that property not be depreciable
EE 8 Election that property not be depreciable Item acquired (1) A person may choose that an item of property they acquire not be depreciable property even though, in the absence of the election, it…
Section EH 8 — Refund of excess deposit
EH 8 Refund of excess deposit When this section applies (1) This section applies when a person’s deposits for an accounting year are more than their main maximum deposit for the accounting year.…
Section EI 8 — Disposal of land to the Crown
EI 8 Disposal of land to the Crown When this section applies (1) This section applies when a person derives income from disposing of any of their land to the Crown. Timing of income (2) The person…
Section EJ 8 — Film production expenditure for other films having no large budget film grant
EJ 8 Film production expenditure for other films having no large budget film grant Films other than New Zealand films (1) A deduction under section DS 2 (Film production expenditure) for film…
Section EK 8 — Deduction for transfer
EK 8 Deduction for transfer When this section applies (1) This section applies when a person is allowed a deduction under section DQ 4 (Environmental restoration accounts scheme) for a transfer to…
Section EW 8 — Election to treat certain excepted financial arrangements as financial arrangements
EW 8 Election to treat certain excepted financial arrangements as financial arrangements Election (1) A person may choose to treat as financial arrangements all the excepted financial arrangements to…
Section EX 8 — Income interests: total of direct and indirect interests
EX 8 Income interests: total of direct and indirect interests Calculation of income interest (1) A person’s income interest in a CFC at any time is the total of the following: (a) any direct income…
Section EY 8 — Meaning of life insurance
EY 8 Meaning of life insurance Meaning (1) Life insurance means insurance under which— (a) person A (the life insurer ) is liable to provide person B (the policyholder ) with a benefit described in…
Section EZ 8 — Premium paid on land leased before 1 April 1993
EZ 8 Premium paid on land leased before 1 April 1993 When this section applies (1) This section applies when section DZ 9 (Premium paid on land leased before 1 April 1993) applies. Amount of…
Section FA 8 — Deductibility of expenditure under finance lease
FA 8 Deductibility of expenditure under finance lease Lessee treated as owner (1) The lessee under a finance lease is treated as the owner of the personal property lease asset for the purposes of…
Section FB 8 — Patent applications and patent rights
FB 8 Patent applications and patent rights When this section applies (1) This section applies for the purposes of sections CB 30 and DB 38 to DB 40 (which relate to patent applications and patent…
Section FC 8 — Transfer of certain financial arrangements
FC 8 Transfer of certain financial arrangements What this section applies to (1) This section applies, in the circumstances described in section FC 1(1)(a) or (b) , to a transfer of a financial…
Section FE 8 — Measurement dates
FE 8 Measurement dates Daily, 3-monthly, or annual basis for excess debt entity (1) An excess debt entity must measure the amount of total group debt and total group assets of its New Zealand group…
Section FF 8 — Identifying members of foreign groups
FF 8 Identifying members of foreign groups [Repealed] Section FF 8: repealed (with effect on 30 June 2009), on 6 October 2009, by section 228(1) of the Taxation (International Taxation, Life…
Section FM 8 — Transactions between group companies: income
FM 8 Transactions between group companies: income When this section applies (1) This section applies when a company that is part of a consolidated group derives an amount of income from a transaction…
Section FN 8 — Trans-Tasman imputation groups and resident imputation subgroups
FN 8 Trans-Tasman imputation groups and resident imputation subgroups Trans-Tasman imputation group (1) If at least 1 company in an imputation group is an Australian ICA company, and at least 1…
Section FO 8 — Bad debts and expenditure or loss on resident’s restricted amalgamation
FO 8 Bad debts and expenditure or loss on resident’s restricted amalgamation When this section applies (1) This section applies when an amalgamating company ends its existence on a resident’s…
Section GB 8 — Arrangements involving attributed repatriation from CFCs
GB 8 Arrangements involving attributed repatriation from CFCs When this section applies (1) This section applies when— (a) a CFC enters into a loan, security, or other type of arrangement (the CFC…
Section GC 8 — Insufficient amount receivable by person
GC 8 Insufficient amount receivable by person Amount receivable (1) If the amount of consideration receivable by a person (the taxpayer ) under a transfer pricing arrangement is less than an arm’s…
Section HA 8 — Shareholders’ personal liability
HA 8 Shareholders’ personal liability Agreement required for election (1) A person making an election as shareholder as described in section HA 5 must agree for each income year in which the election…
Section HB 8 — Disposal of financial arrangements and certain excepted financial arrangements
HB 8 Disposal of financial arrangements and certain excepted financial arrangements When this section applies (1) This section applies when a person (the exiting owner ) disposes of some or all of…
Section HC 8 — Amounts received after person’s death
HC 8 Amounts received after person’s death When this section applies (1) This section applies when a trustee of an estate of a deceased person receives an amount in an income year that is not income…
Section HD 8 — Circumstances giving rise to agency
HD 8 Circumstances giving rise to agency For the purposes of this Act and the Tax Administration Act 1994 , a person is treated as an agent in relation to the income of another person to the extent…
Section HF 8 — Proportional allocation
HF 8 Proportional allocation If a Maori authority distribution consists of a taxable Maori authority distribution and another amount, the Maori authority must allocate an equal proportion of each…
Section HG 8 — Disposal of financial arrangements and certain excepted financial arrangements
HG 8 Disposal of financial arrangements and certain excepted financial arrangements When this section applies (1) This section applies when a person (the exiting partner ) disposes of some or all of…
Section HL 8 — Imputation credit distribution requirement: portfolio listed company
HL 8 Imputation credit distribution requirement: portfolio listed company [Repealed] Section HL 8: repealed, on 1 April 2010 (applying for the 2010–11 and later income years), by section 292(1) of…
Section HM 8 — Residence in New Zealand
HM 8 Residence in New Zealand Requirements (1) The entity must be— (a) resident in New Zealand; and (b) not treated under a double tax agreement as not resident in New Zealand. Foreign investment…
Section HR 8 — Transitional residents
HR 8 Transitional residents Provisions under which transitional resident treated as non-resident (1) When a foreign-sourced amount is derived by a transitional resident, the following provisions…
Section IA 8 — Restrictions relating to schedular income
IA 8 Restrictions relating to schedular income Certain schedular income (1) For the purposes of section BC 7 (Income tax liability of person with schedular income), a person must not take a tax loss…
Section IC 8 — Limitations on amounts used
IC 8 Limitations on amounts used Limit on amounts (1) A tax loss made available, or a payment made, under section IC 5(2) must be no more than the amount that would be company B’s net income for the…
Section IQ 8 — When group membership lacking in tax year of use
IQ 8 When group membership lacking in tax year of use When this section applies (1) This section applies if a company joins a consolidated group in a tax year with a ring-fenced tax loss consisting…
Section LA 8 — Remaining refundable credits: non-resident withholding tax
LA 8 Remaining refundable credits: non-resident withholding tax What this section applies to (1) This section applies to a person’s tax credit remaining for a tax year under section LA 5(5) , if it…
Section LB 8 — Tax credits related to personal service rehabilitation payments: payers
LB 8 Tax credits related to personal service rehabilitation payments: payers When this section applies (1) This section applies when— (a) a person is paid under the Accident Compensation Act 2001 a…
Section LC 8 — Some definitions
LC 8 Some definitions [Repealed] Section LC 8: repealed, on 29 May 2012 (applying for the 2012–13 and later tax years), by section 6(1)(f) of the Taxation (Budget Measures) Act 2012 (2012 No 38).
Section LD 8 — Meaning and ranking of payroll donation
LD 8 Meaning and ranking of payroll donation Meaning (1) A payroll donation , for a pay period and employer who agrees to offer payroll giving to their employees, is an amount that a person asks…
Section LE 8 — Application of imputation ratio
LE 8 Application of imputation ratio When this section applies (1) This section applies when a person who has a tax credit under section LE 1 receives an imputation credit attached to a dividend, and…
Section LF 8 — Credits for persons who are non-resident or who receive exempt income
LF 8 Credits for persons who are non-resident or who receive exempt income When this section applies (1) This section applies for a tax year when a company resident in New Zealand pays a dividend…
Section LH 8 — Orders in Council
LH 8 Orders in Council [Repealed] Section LH 8: repealed, on 1 April 2009, by section 19(1)(c) of the Taxation (Urgent Measures and Annual Rates) Act 2008 (2008 No 105).