Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section LC 1 — When net income under low income amount
LC 1 When net income under low income amount [Repealed] Section LC 1: repealed (with effect from 1 April 2008), on 29 May 2008, by section 24(1) of the Taxation (Personal Tax Cuts, Annual Rates, and…
Section LD 1 — Tax credits for charitable or other public benefit gifts
LD 1 Tax credits for charitable or other public benefit gifts Amount of credit (1) A person who makes a charitable or other public benefit gift in a tax year and who meets the requirements of section…
Section LE 1 — Tax credits for imputation credits
LE 1 Tax credits for imputation credits Amount of credit (1) A person whose assessable income for an income year includes an imputation credit has a tax credit for the tax year corresponding to the…
Section LF 1 — Tax credits for FDP credits
LF 1 Tax credits for FDP credits Amount of credit (1) A person whose assessable income for an income year includes a foreign dividend payment (FDP) credit has a tax credit equal to the amount of the…
Section LH 1 — Who this subpart applies to
LH 1 Who this subpart applies to [Repealed] Section LH 1: repealed, on 1 April 2009, by section 19(1)(c) of the Taxation (Urgent Measures and Annual Rates) Act 2008 (2008 No 105).
Section LJ 1 — What this subpart does
LJ 1 What this subpart does When tax credits allowed (1) This subpart provides the rules for dividing assessable income from foreign-sourced amounts into segments and allows a tax credit for foreign…
Section LK 1 — Tax credits relating to attributed CFC income
LK 1 Tax credits relating to attributed CFC income Amount of credit (1) A person who has an amount of attributed CFC income for an income year has a tax credit for the tax year corresponding to the…
Section LL 1 — What this subpart does
LL 1 What this subpart does [Repealed] Section LL 1: repealed (with effect on 30 June 2009), on 6 October 2009, by section 343(1) of the Taxation (International Taxation, Life Insurance, and Remedial…
Section LO 1 — Tax credits for Maori authority credits
LO 1 Tax credits for Maori authority credits Amount of credit (1) A person who derives a taxable Maori authority distribution in a tax year has a tax credit for the tax year equal to the amount of…
Section LP 1 — What this subpart does
LP 1 What this subpart does Supplementary dividends (1) This subpart provides the rules for the treatment of a tax credit for a supplementary dividend. The amount of the credit is determined by…
Section LQ 1 — Tax credits of CTR companies
LQ 1 Tax credits of CTR companies [Repealed] Section LQ 1: repealed (with effect on 30 June 2009), on 6 October 2009, by section 346(1) of the Taxation (International Taxation, Life Insurance, and…
Section LR 1 — Tax credits for policyholder income
LR 1 Tax credits for policyholder income Amount of credit (1) A person who has a credit in their policyholder credit account for a tax year has a tax credit equal to the amount, as limited under…
Section LS 1 — Tax credits for multi-rate PIEs
LS 1 Tax credits for multi-rate PIEs Tax credit (1) A multi-rate PIE has a tax credit for a tax year for the amount determined— (a) under sections HM 51 and HM 53 (which relate to certain tax…
Section LZ 1 — Low tax jurisdiction companies
LZ 1 Low tax jurisdiction companies [Repealed] Section LZ 1: repealed, on 2 November 2012, by section 119 of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).
Section MA 1 — What this Part does
MA 1 What this Part does This Part identifies the tax credits to which a person is entitled— (a) under the family scheme for a tax year, see subparts MA to MF and MZ (which relate to working for…
Section MB 1 — Adjustments for calculation of family scheme income
MB 1 Adjustments for calculation of family scheme income Assessable income derived at uniform daily rate (1) To determine the net income (the family scheme income ) on which the calculation of an…
Section MC 1 — What this subpart does
MC 1 What this subpart does Rules about entitlements under family scheme (1) This subpart provides the rules for determining whether a person and their spouse, civil union partner, or de facto…
Section MD 1 — Abating WFF tax credit
MD 1 Abating WFF tax credit Tax credit (1) A person who qualifies under section MC 2 (Who qualifies for entitlements under family scheme?) is entitled to a tax credit (the abating WFF tax credit )…
Section ME 1 — Minimum family tax credit
ME 1 Minimum family tax credit Tax credit (1) A person who qualifies under sections MC 3 to MC 6 (which relate to the qualifying criteria) is entitled to a tax credit (the minimum family tax credit )…
Section MF 1 — Application for payment of tax credit by instalment
MF 1 Application for payment of tax credit by instalment When this section applies (1) This section applies when— (a) a person who is a principal caregiver expects to be entitled, throughout a…
Section MK 1 — Tax credits for superannuation contributions
MK 1 Tax credits for superannuation contributions Tax credits for members paid to fund providers (1) A fund provider of a person's KiwiSaver scheme or a complying superannuation fund has a tax credit…
Section ML 1 — What this subpart does
ML 1 What this subpart does Redundancy payments (1) This subpart provides a tax credit for a person who derives a redundancy payment before 1 October 2011 for loss of employment. Exclusions (2)…
Section MZ 1 — Entitlement to child tax credit
MZ 1 Entitlement to child tax credit When this section applies (1) This section applies when— (a) a person is claiming or receiving a child tax credit for a child for an entitlement period ending on…
Section OA 1 — What this Part does
OA 1 What this Part does This Part provides some rules of general application for recording amounts as credits and debits to a memorandum account. Defined in this Act: memorandum account ,
Section OB 1 — General rules for companies with imputation credit accounts
OB 1 General rules for companies with imputation credit accounts New Zealand resident (1) A company that is resident in New Zealand (the imputation credit account (ICA) company ) must establish and…
Section OC 1 — General rules for companies with FDP accounts
OC 1 General rules for companies with FDP accounts FDPA company (1) A company resident in New Zealand may choose to become a foreign dividend payment account (FDPA) company. This subsection does not…
Section OD 1 — General rules for companies with CTR accounts
OD 1 General rules for companies with CTR accounts [Repealed] Section OD 1: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by…
Section OE 1 — General rules for persons with branch equivalent tax accounts
OE 1 General rules for persons with branch equivalent tax accounts BETA company (1) [Repealed] BETA person (2) A person resident in New Zealand who is not a company may choose to be a BETA person…
Section OF 1 — General rules for companies with ASC accounts
OF 1 General rules for companies with ASC accounts ASC account company (1) A public unit trust or a group investment fund that derives category A income may choose to become an available subscribed…
Section OJ 1 — General rules for companies and other persons with policyholder credit accounts
OJ 1 General rules for companies and other persons with policyholder credit accounts [Repealed] Section OJ 1: repealed, on 1 July 2010, by section 439(1) of the Taxation (International Taxation, Life…
Section OK 1 — General rules for Maori authorities with Maori authority credit accounts
OK 1 General rules for Maori authorities with Maori authority credit accounts Accounts (1) A Maori authority must maintain a Maori authority credit account for a tax year. The account is a record of…
Section OP 1 — Memorandum accounts of consolidated groups
OP 1 Memorandum accounts of consolidated groups Single company (1) For the purposes of this Part, a consolidated group is treated as if it were a single company, and subpart FM (Consolidated groups…
Section OZ 1 — No imputation credit for pre-imputation tax paid
OZ 1 No imputation credit for pre-imputation tax paid No imputation credit arises in the imputation credit account of an imputation credit account (ICA) company for a payment of income tax imposed…
Section RA 1 — What this Part does
RA 1 What this Part does This Part provides the rules to require a person to pay to the Commissioner interim and terminal payments of tax and other amounts payable under the Inland Revenue Acts. The…
Section RB 1 — Payment of terminal tax
RB 1 Payment of terminal tax A person must pay their terminal tax for a tax year on the due date set out in section RA 13 (Payment dates for terminal tax). Defined in this Act: pay , tax year ,…
Section RC 1 — What this subpart does
RC 1 What this subpart does When this subpart applies (1) Sections RC 3 to RC 39 apply, for the purposes of the provisional tax rules, to provide— (a) the circumstances in which a person has a…
Section RD 1 — What this subpart does
RD 1 What this subpart does This subpart establishes and measures an employer’s liability under— (a) the PAYE rules by— (i) listing the types of payments to which the rules apply: (ii) calculating…
Section RE 1 — RWT rules and their application
RE 1 RWT rules and their application Meaning (1) The RWT rules means— (a) this subpart; and (b) sections LA 4 , LA 6 , and LB 3 (which relate to tax credits for RWT); and (c) sections 15N , 25 to 28…
Section RF 1 — NRWT rules and their application
RF 1 NRWT rules and their application Meaning (1) The NRWT rules means— (a) this subpart; and (b) section LB 5 (Tax credits for non-resident withholding tax); and (c) sections LJ 1 to LJ 3 , LJ 6 ,…
Section RG 1 — FDP rules and their application
RG 1 FDP rules and their application [Repealed] Section RG(1): repealed (with effect on 30 June 2009), on 6 October 2009, by section 540(1) of the Taxation (International Taxation, Life Insurance,…
Section RH 1 — RSCT rules and their application
RH 1 RSCT rules and their application Meaning (1) The RSCT rules means— (a) this subpart; and (b) section BE 1(5B) (Withholding liabilities); and (c) section CX 50B (Contributions to retirement…
Section RM 1 — What this subpart does
RM 1 What this subpart does This subpart establishes and measures a person’s entitlement to a refund for an overpayment under this Part or another Part of this Act, how the amount of the refund may…
Section RP 1 — What this subpart does
RP 1 What this subpart does This subpart establishes the obligations of PAYE intermediaries and tax pooling intermediaries in relation to the collection and payment of tax and the provision of…
Section RZ 1 — Certain elections to become person with provisional tax liability
RZ 1 Certain elections to become person with provisional tax liability When this section applies (1) This section applies when a person has a non-standard income year and has, between 10 October 2000…
Section YA 1 — Definitions
YA 1 Definitions In this Act, unless the context requires otherwise,— 1973 version provisions [Repealed] 1988 version provisions [Repealed] 1990 version provisions [Repealed] abating WFF tax credit…
Section YB 1 — What this subpart does
YB 1 What this subpart does Associated person rules and nominee rules (1) This subpart sets out the rules that— (a) define when 2 persons are associated persons; and (b) determine how nominees are…
Section YC 1 — Meaning of control
YC 1 Meaning of control [Repealed] Section YC 1: repealed, on 1 April 2010 (applying for the 2010–11 and later income years), by section 566(1) of the Taxation (International Taxation, Life…
Section YD 1 — Residence of natural persons
YD 1 Residence of natural persons What this section does (1) This section contains the rules for determining when a person who is not a company is a New Zealand resident for the purposes of this Act.…
Section YE 1 — References to balance dates and years
YE 1 References to balance dates and years When this section applies (1) This section applies for the purposes of the Act unless the context requires otherwise. Tax year identified by 2 years (2) A…
Section YF 1 — General rules for currency conversion
YF 1 General rules for currency conversion When this section applies (1) This section applies when— (a) an amount is paid or payable in a currency other than New Zealand currency; and (b) a provision…