Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section RM 10 — Using refund to satisfy tax liability
RM 10 Using refund to satisfy tax liability When this section applies (1) This section applies when a person is entitled to a refund of an amount of tax under sections RM 2 and RM 4 to RM 6 . An…
Section RP 10 — When transfers from accounts not authorised
RP 10 When transfers from accounts not authorised Employer to pay amount of tax to trust account (1) If an employer has not authorised a PAYE intermediary to direct the transfer of funds as described…
Section RZ 10 — Recovery of amounts payable to Commissioner
RZ 10 Recovery of amounts payable to Commissioner An amount payable to the Commissioner under section RZ 8(3) or (5) is recoverable as if it were income tax imposed under section BB 1 (Imposition of…
Section Sch10 — Straight-line equivalents of diminishing value rates of depreciation
Schedule 10 Straight-line equivalents of diminishing value rates of depreciation ss EE 40 , EE 41 , EZ 14 , EZ 15 Column 1 Diminishing value depreciation rate (%) Column 2 Straight-line equivalent…
Section YB 10 — Who is a settlor?
YB 10 Who is a settlor? For the purposes of sections YB 7 to YB 9 , settlor has the meaning set out in section HC 27 (Who is a settlor?) but does not include a person who provides services to a trust…
Section YC 10 — Shareholders holding less than 10% direct interests
YC 10 Shareholders holding less than 10% direct interests When this section applies (1) This section applies when— (a) a person has a direct voting interest or direct market value interest of less…
Section YD 10 — Meaning of CTR holding company
YD 10 Meaning of CTR holding company [Repealed] Section YD 10: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 136(2) of…
Section CS 10B — Exclusion of permitted withdrawals from KiwiSaver schemes and complying superannuation funds
CS 10B Exclusion of permitted withdrawals from KiwiSaver schemes and complying superannuation funds [Repealed] Section CS 10B: repealed, on 1 April 2011, by section 12 of the Taxation (Annual Rates,…
Section DB 10B — Interest or expenditure connected to stapled debt security
DB 10B Interest or expenditure connected to stapled debt security No deduction (1) A company that issues a stapled debt security is denied, while section FA 2B(2) (Stapled debt securities) applies to…
Section FB 10B — Look-through companies
FB 10B Look-through companies When this section applies (1) This section applies for the purposes of sections HB 4 to HB 10 (which relate to transfers of interests) when a look-through interest for a…
Section RE 10B — Amounts withheld from distributions to holders of FIF attributing interests
RE 10B Amounts withheld from distributions to holders of FIF attributing interests When this section applies (1) This section applies when— (a) a distribution is made to a holder of an attributing…
Section CB 11 — Disposal within 10 years of improvement: building business
CB 11 Disposal within 10 years of improvement: building 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 within 10…
Section CC 11 — Lessee acquiring lease asset on expiry of term of lease
CC 11 Lessee acquiring lease asset on expiry of term of lease When this section applies (1) This section applies for the purposes of section FA 9 (Treatment when lease ends: lessee acquiring asset),…
Section CD 11 — Avoidance arrangements
CD 11 Avoidance arrangements An amount treated as a dividend under any of the following sections is a dividend: (a) section GB 1 (Arrangements involving dividend stripping): (b) section GB 23(7)…
Section CE 11 — Proceeds from claims under policies of income protection insurance
CE 11 Proceeds from claims under policies of income protection insurance When this section applies (1) This section applies when an employer is liable to pay, or contribute to the payment of, a…
Section CS 11 — Transfer by superannuation fund to another superannuation fund
CS 11 Transfer by superannuation fund to another superannuation fund [Repealed] Section CS 11: repealed, on 1 April 2011, by section 12 of the Taxation (Annual Rates, Trans-Tasman Savings…
Section CU 11 — Meaning of asset for sections CU 3 to CU 10
CU 11 Meaning of asset for sections CU 3 to CU 10 Mining company’s share or interest in asset (1) Sections CU 3 to CU 10 apply to a share or interest that a mining company has in an asset— (a) to the…
Section CV 11 — Maori authorities
CV 11 Maori authorities Income (1) An amount that a member of a Maori authority derives as a distribution from the Maori authority is income of the member if the amount is— (a) a notional…
Section CW 11 — Dividend of conduit tax relief holding company
CW 11 Dividend of conduit tax relief holding company [Repealed] Section CW 11: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by…
Section CX 11 — Employment-related loans: loans by life insurers
CX 11 Employment-related loans: loans by life insurers When fringe benefit treated as arising (1) A life insurer provides a benefit that is treated as an employment-related loan if— (a) the life…
Section CZ 11 — Recovery of deductions for software acquired before 1 April 1993
CZ 11 Recovery of deductions for software acquired before 1 April 1993 What this section applies to (1) This section applies to any of the following items for the acquisition of which a person was…
Section DB 11 — Negative base price adjustment
DB 11 Negative base price adjustment Deduction (1) A person who has a negative base price adjustment under section EW 31(4) (Base price adjustment formula) is allowed a deduction for the expenditure…
Section DC 11 — Transfers of employment income obligations to associates
DC 11 Transfers of employment income obligations to associates When this section applies (1) This section applies when— (a) an employee of a person ( person A ) becomes an employee of another person…
Section DD 11 — Some definitions
DD 11 Some definitions In this subpart,— business includes any recurring income-earning activity business contacts — (a) includes, for a person,— (i) their clients, customers, shareholders, other…
Section DE 11 — Replacement vehicles
DE 11 Replacement vehicles For the purpose of establishing the proportion of business use of a motor vehicle, a replacement vehicle is treated in the same way as the vehicle it replaces if— (a) the…
Section DO 11 — Improvement destroyed or made useless
DO 11 Improvement destroyed or made useless When this section applies (1) This section applies when, in an income year of a person,— (a) the person owns land, or operates a business on land, to which…
Section DP 11 — Cost of timber
DP 11 Cost of timber When this section applies (1) This section applies when a person— (a) derives an amount on the disposal of timber and the amount is income of the person under section CB 24…
Section DT 11 — Association ending
DT 11 Association ending When this section applies (1) This section applies when— (a) a petroleum miner disposes of a petroleum mining asset to a person ( person A ) who is— (i) an associated person…
Section DU 11 — Disposal of mining shares by company
DU 11 Disposal of mining shares by company Deduction (1) When a company disposes of a mining share, the company is allowed a deduction for the cost of the share to it. Amount of deduction (2) The…
Section DV 11 — Distribution to member of co-operative company, excluded from being dividend
DV 11 Distribution to member of co-operative company, excluded from being dividend Deduction (1) A co-operative company, or a company owned by a co-operative company, is allowed a deduction for a…
Section DZ 11 — Film reimbursement scheme on or before 30 June 2001
DZ 11 Film reimbursement scheme on or before 30 June 2001 Film reimbursement scheme (1) Section DS 3 (Clawback of deductions for film reimbursement schemes) does not apply to a deduction for…
Section EB 11 — Market selling value
EB 11 Market selling value Valuation at market selling value (1) A person may determine the value of their closing stock at its market selling value if the market selling value is less than the cost…
Section EC 11 — Restrictions on making of elections
EC 11 Restrictions on making of elections Forms of notice (1) This section specifies the 2 forms of notice that a person must give to the Commissioner and when each must be used. When a person…
Section EE 11 — Calculation rule: income year in which item disposed of
EE 11 Calculation rule: income year in which item disposed of Generally no amount of depreciation loss (1) A person does not have an amount of depreciation loss for an item of depreciable property…
Section EH 11 — Income when refund given at end of 5 years
EH 11 Income when refund given at end of 5 years A refund under section EH 10 is income, under section CB 27 (Income equalisation schemes), derived by the person and is allocated to the income year…
Section EJ 11 — Amount paid by lessee for non-compliance with covenant for repair
EJ 11 Amount paid by lessee for non-compliance with covenant for repair When this section applies (1) This section applies when a lessee of land is allowed a deduction under section DB 21 (Amounts…
Section EK 11 — Application for refund
EK 11 Application for refund Who may apply (1) A person may apply to the Commissioner for a refund under section EK 12 of an amount in the person’s environmental restoration account if the refund—…
Section EW 11 — What financial arrangements rules do not apply to
EW 11 What financial arrangements rules do not apply to The financial arrangements rules do not apply to— (a) the calculation of resident passive income: (b) the calculation of non-resident passive…
Section EX 11 — Options and similar rights in certain cases
EX 11 Options and similar rights in certain cases Increase in income interest (1) The rules in this section apply to increase a person’s income interest in a CFC (the first CFC ) in some cases.…
Section EY 11 — Superannuation schemes providing life insurance
EY 11 Superannuation schemes providing life insurance Benefits treated as life insurance (1) The provision by a trustee of a superannuation scheme of a benefit to a member or beneficiary of the…
Section EZ 11 — Amounts of depreciation recovery income and depreciation loss for part business use up to 2004–05 income year
EZ 11 Amounts of depreciation recovery income and depreciation loss for part business use up to 2004–05 income year For the purposes of sections EE 49(1)(b)(ii) and EE 50(5)(b)(ii) (which relate to…
Section FA 11 — Adjustments for leases that become finance leases
FA 11 Adjustments for leases that become finance leases When this section applies (1) This section applies when a lease is entered into on or after 20 May 1999 and— (a) the lease is a consecutive or…
Section FB 11 — Pension payments to former employees
FB 11 Pension payments to former employees When this section applies (1) This section applies for the purposes of section DC 2 (Pension payments to former employees) when a person is entitled to the…
Section FE 11 — Temporary increases or decreases in value
FE 11 Temporary increases or decreases in value A temporary increase or decrease in a value applying in this subpart must be excluded from a calculation made under this subpart if— (a) the increase…
Section FF 11 — Changes in foreign group membership
FF 11 Changes in foreign group membership [Repealed] Section FF 11: repealed (with effect on 30 June 2009), on 6 October 2009, by section 228(1) of the Taxation (International Taxation, Life…
Section FM 11 — Expenditure: nexus with income derivation
FM 11 Expenditure: nexus with income derivation When this section applies (1) This section applies when a company incurs expenditure or loss or has an amount of depreciation loss in a tax year or…
Section FN 11 — Company choosing to leave imputation group
FN 11 Company choosing to leave imputation group When this section applies (1) This section applies when a company chooses to leave an imputation group and notifies the Commissioner of its election.…
Section FO 11 — When property passes on amalgamation other than resident’s restricted amalgamation
FO 11 When property passes on amalgamation other than resident’s restricted amalgamation Disposal and acquisition (1) If property belonging to an amalgamating company becomes the property of the…
Section GB 11 — Temporary increases in totals for control interest categories
GB 11 Temporary increases in totals for control interest categories When this section applies (1) This section applies when,— (a) before the end of a quarter, an increase occurs in the total of…
Section GC 11 — Requests for matching treatment
GC 11 Requests for matching treatment When this section applies (1) This section applies when— (a) an arm’s length amount of consideration is substituted under section GC 7 or GC 8 in relation to a…