Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section OB 9 — ICA dividend derived with imputation credit
OB 9 ICA dividend derived with imputation credit Credit (1) An ICA company has an imputation credit for the amount of an imputation credit attached to a dividend derived by the company. Table…
Section OC 9 — FDPA transfer for net foreign attributed income
OC 9 FDPA transfer for net foreign attributed income [Repealed] Section OC 9: repealed (with effect on 30 June 2009), on 6 October 2009, by section 407(1) of the Taxation (International Taxation,…
Section OD 9 — CTRA reversal of tax advantage arrangement
OD 9 CTRA reversal of tax advantage arrangement [Repealed] Section OD 9: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section…
Section OE 9 — BETA refund of FDP
OE 9 BETA refund of FDP [Repealed] Section OE 9: repealed, on 1 July 2012 (applying for income years beginning on or after that date), by section 109(1) of the Taxation (International Investment and…
Section OJ 9 — PCA transfer to imputation credit account
OJ 9 PCA transfer to imputation credit account [Repealed] Section OJ 9: repealed, on 1 July 2010, by section 439(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act…
Section OK 9 — MACA reversal of tax advantage arrangement
OK 9 MACA reversal of tax advantage arrangement When this section applies (1) This section applies when it is established that a Maori authority credit in a Maori authority’s credit account was…
Section OP 9 — Consolidated ICA transfer from tax pooling account
OP 9 Consolidated ICA transfer from tax pooling account Credit (1) A consolidated imputation group has an imputation credit for an amount representing an entitlement to funds held in a tax pooling…
Section OZ 9 — Benchmark dividends: ratio change
OZ 9 Benchmark dividends: ratio change When this section applies (1) This section applies when— (a) a company pays a dividend in the transitional period; and (b) the dividend is a later dividend for…
Section RA 9 — Treatment of amounts withheld as received
RA 9 Treatment of amounts withheld as received Payments treated as received or derived (1) An amount withheld from a payment under this Part, unless a provision in this Part states otherwise,— (a) is…
Section RC 9 — Provisional tax payable in instalments
RC 9 Provisional tax payable in instalments Who this section applies to (1) This section applies to a person who is liable to pay provisional tax. General principle (2) For a person liable to pay…
Section RD 9 — Maximum amount
RD 9 Maximum amount When a person calculates an amount of tax for a PAYE income payment, they must use the maximum rate under schedule 2 (Basic tax rates for PAYE income payments) at the time for the…
Section RE 9 — Agents’ or trustees’ obligations in relation to certain dividends
RE 9 Agents’ or trustees’ obligations in relation to certain dividends When this section applies (1) This section applies when an agent or trustee is required to withhold RWT from certain dividends.…
Section RF 9 — When dividends fully imputed or fully credited
RF 9 When dividends fully imputed or fully credited When this section applies (1) This section applies for the purposes of sections RF 8 , RF 10 , and RF 11B to determine the extent to which a…
Section RM 9 — Calculations for attributed and non-attributed fringe benefits
RM 9 Calculations for attributed and non-attributed fringe benefits When this section applies (1) This section applies when an employer chooses to pay fringe benefit tax (FBT) under sections RD 47 to…
Section RP 9 — Authorised transfers from accounts
RP 9 Authorised transfers from accounts When this section applies (1) This section applies when an employer has authorised the PAYE intermediary to direct the transfer of an amount from the…
Section RZ 9 — Relief in certain cases
RZ 9 Relief in certain cases If the Commissioner is satisfied that an amount of withdrawal tax is more than the total tax credit allowed in relation to a person’s account under section LZ 9(2)…
Section YB 9 — Settlor and beneficiary
YB 9 Settlor and beneficiary Association (1) A settlor 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 9 — Shares or options held by trustees
YC 9 Shares or options held by trustees Trustees treated as notional single person (1) All the trustees of a trust holding a share or an option over a share in a company under the trust are treated…
Section YD 9 — Residence of CTR company shareholders
YD 9 Residence of CTR company shareholders [Repealed] Section YD 9: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section…
Section CZ 9B — Available capital distribution amount: 1988 to 2010
CZ 9B Available capital distribution amount: 1988 to 2010 When this section applies (1) This section applies for the purposes of section CD 44 (Available capital distribution amount) in relation to…
Section DP 9B — Treaty of Waitangi claim settlements: rights to take timber
DP 9B Treaty of Waitangi claim settlements: rights to take timber When this section applies (1) This section applies when a person's right to take timber (the old right ) has been extinguished, and…
Section HR 9B — Bankruptcy-remote property during application of section HR 9
HR 9B Bankruptcy-remote property during application of section HR 9 Despite section HR 9 , property that a financial institution holds because of the application of section HR 9 cannot be attached,…
Section OB 9B — ICA attributed PIE income with imputation credit
OB 9B ICA attributed PIE income with imputation credit Credit (1) An ICA company that is an investor in a multi-rate PIE has an imputation credit for the amount of an imputation credit attributed to…
Section CB 10 — Disposal within 10 years: land development or subdivision business
CB 10 Disposal within 10 years: land development or subdivision business Income (1) An amount that a person derives from disposing of land is income of the person if— (a) they dispose of the land…
Section CC 10 — Films
CC 10 Films When this section applies (1) This section applies when a person has a right or interest of any of the kinds described in subsection (2) in or to— (a) a film; or (b) a print of the film;…
Section CD 10 — Bonus issue by foreign unit trust instead of money or property
CD 10 Bonus issue by foreign unit trust instead of money or property Interest absolutely vested in unit holder (1) A bonus issue made to a unit holder by a unit trust that is a foreign company is a…
Section CE 10 — Exit inducements
CE 10 Exit inducements An amount is income of a person if they derive it for— (a) the loss of a vocation; or (b) the loss of a position; or (c) leaving a position; or (d) loss of status. Defined in…
Section CH 10 — Interest apportionment: reporting bank
CH 10 Interest apportionment: reporting bank When this section applies (1) This section applies when a reporting bank is required under section FE 7 (Apportionment of interest by reporting bank) to…
Section CS 10 — When member treated as not ending employment
CS 10 When member treated as not ending employment [Repealed] Section CS 10: repealed, on 1 April 2011, by section 12 of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and…
Section CU 10 — Mining asset used to derive income other than income from mining
CU 10 Mining asset used to derive income other than income from mining When this section applies (1) This section applies when— (a) a mining company acquires an asset by incurring mining exploration…
Section CV 10 — Foreign dividend payment account companies or conduit tax relief companies
CV 10 Foreign dividend payment account companies or conduit tax relief companies [Repealed] Section CV 10: repealed (with effect on 30 June 2009), on 6 October 2009, by section 39(1) of the Taxation…
Section CW 10 — Dividend within New Zealand wholly-owned group
CW 10 Dividend within New Zealand wholly-owned group Exempt income (1) A dividend is exempt income if— (a) it is derived by a company (the recipient ) that is resident in New Zealand; and (b) it is…
Section CX 10 — Employment-related loans
CX 10 Employment-related loans When fringe benefit arises (1) A fringe benefit arises when an employer provides a loan to an employee. Exclusions (2) Subsection (1) does not apply to a loan made— (a)…
Section CZ 10 — Transitional relief for calculation of attributed repatriation dividends: 2 July 1992
CZ 10 Transitional relief for calculation of attributed repatriation dividends: 2 July 1992 Loans made by CFC to intermediary before 2 July 1992 (1) Subsection (2) applies for the purposes of…
Section DB 10 — Interest or expenditure connected to profit-related or substituting debentures
DB 10 Interest or expenditure connected to profit-related or substituting debentures When this section applies (1) This section applies for the purposes of section FA 2 (Recharacterisation of certain…
Section DC 10 — Sale of business: transferred employment income obligations
DC 10 Sale of business: transferred employment income obligations When this section applies (1) This section applies when— (a) a person (the seller ) sells a business, or a part of a business, to…
Section DD 10 — Interpretation: reimbursement and apportionment
DD 10 Interpretation: reimbursement and apportionment In sections DD 2 to DD 8 ,— (a) a person is treated as having incurred expenditure on entertainment described in section DD 2 if they pay an…
Section DE 10 — Variance during logbook term
DE 10 Variance during logbook term If, in any month during a logbook term, the proportion of business use in that month is less by at least 20 percentage points than the proportion established by the…
Section DO 10 — Farming or horticulture expenditure of lessor or sublessor
DO 10 Farming or horticulture expenditure of lessor or sublessor When this section applies (1) This section applies when a person— (a) is the owner of an estate in fee simple or of a leasehold estate…
Section DP 10 — Cost of acquiring timber or right to take timber: other cases
DP 10 Cost of acquiring timber or right to take timber: other cases Acquiring land with standing timber (1) For a person acquiring land with standing timber on it in a disposal to which section CB 25…
Section DT 10 — Disposal of petroleum mining asset outside association
DT 10 Disposal of petroleum mining asset outside association When this section applies (1) This section applies when— (a) a petroleum miner disposes of a petroleum mining asset to a person described…
Section DU 10 — Application of sections to non-resident mining operators
DU 10 Application of sections to non-resident mining operators Sections of this subpart and subpart IS applying to non-resident mining operators (1) Sections DU 1 to DU 6 and IS 1 , IS 3 , and IS 4…
Section DV 10 — Building societies
DV 10 Building societies Deduction (1) A building society is allowed a deduction for— (a) expenditure incurred on money borrowed by way of withdrawable shares: (b) interest and other financial…
Section DZ 10 — General insurance with risk period straddling 1 July 1993
DZ 10 General insurance with risk period straddling 1 July 1993 When this section applies (1) This section applies when— (a) a company carries on a business of providing general insurance or…
Section EB 10 — Replacement price
EB 10 Replacement price Valuation at replacement price (1) A person may determine the value of their closing stock at its replacement price if they use replacement price for their trading stock in…
Section EC 10 — Restrictions on use of cost price method
EC 10 Restrictions on use of cost price method Cost price method: first restriction on use of method (1) The cost price method is not available to a person to value specified livestock in an income…
Section EE 10 — Calculation rule: item temporarily not available
EE 10 Calculation rule: item temporarily not available An item of depreciable property is treated as being available for use while subject temporarily to repair or inspection, if it was used or…
Section EH 10 — Refund at end of 5 years
EH 10 Refund at end of 5 years When this section applies (1) This section applies when a deposit is in a person’s main income equalisation account at the end of 5 years after the end of the…
Section EJ 10 — Personal property lease payments
EJ 10 Personal property lease payments What this section applies to (1) This section applies to a lease that— (a) is of a personal property lease asset; and (b) is not a finance lease; and (c) is not…
Section EK 10 — Certain refunds not income
EK 10 Certain refunds not income A refund under section EK 9 is excluded income under section CX 52 (Refund from environmental restoration account). Defined in this Act: excluded income , Compare:…