Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section GB 13 — When combination of changes reduces income
GB 13 When combination of changes reduces income When this section applies (1) This section applies when— (a) before the end of a quarter, either— (i) a person directly or indirectly disposes of a…
Section GC 13 — Calculation of arm’s length amounts
GC 13 Calculation of arm’s length amounts Use of most reliable measure (1) An arm’s length amount of consideration must be determined by applying whichever 1 or a combination of the methods listed in…
Section HA 13 — Qualifying companies’ distributions
HA 13 Qualifying companies’ distributions A distribution that is a transfer of value to a shareholder of a qualifying company must be treated in the way set out in sections HA 14 to HA 18 . Defined…
Section HB 13 — LTC elections
HB 13 LTC elections LTC elections (1) For the purposes of section HB 1 , an LTC election (the election ) is a notice that–– (a) is signed and dated by a director of the company that becomes a…
Section HC 13 — Charitable trusts
HC 13 Charitable trusts In the trust rules, a trust is a charitable trust in an income year if— (a) all income derived or accumulated by the trustee in that or in any earlier income year is held for…
Section HD 13 — Unit trusts
HD 13 Unit trusts A trustee of a unit trust is treated as an agent of the unit trust in relation to income derived by the unit trust. Defined in this Act: agent , income , trustee , unit trust ,…
Section HL 13 — Becoming portfolio investment entity
HL 13 Becoming portfolio investment entity [Repealed] Section HL 13: repealed, on 1 April 2010 (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International…
Section HM 13 — Maximum shareholdings in investments
HM 13 Maximum shareholdings in investments When this section applies (1) This section applies when an entity has an investment consisting of shares in a company other than shares in— (a) a PIE, or an…
Section IC 13 — Variation of requirements for development companies in Niue
IC 13 Variation of requirements for development companies in Niue When this section applies (1) This section applies in relation to the required common ownership of group companies set out in…
Section LC 13 — Tax credits for independent earners
LC 13 Tax credits for independent earners When this section applies (1) This section applies for a natural person, for a period (the credit period ) in a tax year when the person–– (a) is not…
Section LH 13 — Internal software development: limit
LH 13 Internal software development: limit [Repealed] Section LH 13: repealed, on 1 April 2009, by section 19(1)(c) of the Taxation (Urgent Measures and Annual Rates) Act 2008 (2008 No 105).
Section LK 13 — Use of credits by amalgamated company
LK 13 Use of credits by amalgamated company When this section applies (1) This section applies when an amalgamating company ends its existence on a resident’s restricted amalgamation and the company…
Section MB 13 — Family scheme income from other payments
MB 13 Family scheme income from other payments (1) The family scheme income of a person for an income year includes the value of payments— (a) paid or provided to the person from any source; and (b)…
Section MD 13 — Calculation of family credit abatement
MD 13 Calculation of family credit abatement When this section applies (1) This section applies for the purposes of section MD 1 to determine the amount of a person’s family credit abatement for an…
Section MK 13 — When short payment and unpaid compulsory employer contributions found after tax credit used
MK 13 When short payment and unpaid compulsory employer contributions found after tax credit used [Repealed] Section MK 13: repealed, on 1 April 2009, by section 54 of the Taxation (Urgent Measures…
Section OA 13 — Policyholder credit account on resident’s restricted amalgamation
OA 13 Policyholder credit account on resident’s restricted amalgamation When this section applies (1) This section applies on a resident’s restricted amalgamation if— (a) an amalgamating company ends…
Section OB 13 — ICA transfer of debit balance on leaving wholly-owned group
OB 13 ICA transfer of debit balance on leaving wholly-owned group Election (1) If the requirements of subsections (2) and (3) are met, an ICA company may choose to transfer a debit balance in its…
Section OC 13 — FDPA payment of dividend
OC 13 FDPA payment of dividend Debit (1) An FDPA company has an FDP debit for the amount of an FDP credit attached to a dividend paid by the company. Table reference (2) The FDP debit in subsection…
Section OD 13 — CTRA adjustment for conduit tax relief
OD 13 CTRA adjustment for conduit tax relief [Repealed] Section OD 13: 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 13 — BETA reduction in FDP
OE 13 BETA reduction in FDP [Repealed] Section OE 13: repealed (with effect on 30 June 2009), on 6 October 2009, by section 433(1) the Taxation (International Taxation, Life Insurance, and Remedial…
Section OJ 13 — Choosing to stop being PCA person
OJ 13 Choosing to stop being PCA person [Repealed] Section OJ 13: repealed, on 1 July 2010, by section 439(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009…
Section OK 13 — MACA payment of other taxes
OK 13 MACA payment of other taxes Debit (1) A Maori authority has a Maori authority debit for an amount of overpaid income tax applied to pay an amount due under the Inland Revenue Acts. Subsection…
Section OP 13 — Consolidated ICA dividend derived with FDP credit
OP 13 Consolidated ICA dividend derived with FDP credit Credit (1) A consolidated imputation group has an imputation credit for the amount of an FDP credit attached to a dividend derived by a group…
Section OZ 13 — Fully credited dividends: modifying actual ratio
OZ 13 Fully credited dividends: modifying actual ratio What this section applies to (1) This section applies in the transitional period to a dividend for which, in the absence of this section, the…
Section RA 13 — Payment dates for terminal tax
RA 13 Payment dates for terminal tax When payment due (1) A person must pay their terminal tax for a tax year by— (a) the 7th day of the month in schedule 3, part A , column G or H (Payment of…
Section RC 13 — Paying 2 instalments for tax year
RC 13 Paying 2 instalments for tax year Who this section applies to (1) This section applies for a tax year to— (a) a person with an initial provisional tax liability whose first business day occurs…
Section RD 13 — Advance payments of salary or wages
RD 13 Advance payments of salary or wages When this section applies: increase in amount of tax (1) This section applies when— (a) an employee receives from an employer a payment of salary or wages…
Section RE 13 — Dividends other than non-cash dividends
RE 13 Dividends other than non-cash dividends When this section applies (1) This section applies when a person makes a payment of resident passive income that consists of a dividend other than a…
Section RF 13 — Basis for payment of amounts of tax for non-resident passive income
RF 13 Basis for payment of amounts of tax for non-resident passive income When this section applies (1) This section applies when a person estimates for a tax year that they will not be required by…
Section RM 13 — Limits on refunds for ICA companies
RM 13 Limits on refunds for ICA companies When this section applies (1) This section applies when an ICA company is entitled to— (a) a refund of income tax under sections RM 2 and RM 4 to RM 6 ; or…
Section RP 13 — General responsibilities of PAYE intermediaries
RP 13 General responsibilities of PAYE intermediaries When this section applies (1) This section applies when a PAYE intermediary assumes the PAYE and ESCT obligations in relation to an employee and…
Section Sch13 — Depreciable land improvements
Schedule 13 Depreciable land improvements s EE 7 1 airport runways 2 bores and wells 3 bridges 4 chimneys 5 culverts 6 dams 7 fences 8 hardstanding 9 reservoirs 10 retaining walls 11 roads 12…
Section YB 13 — Look-through companies and owners of interests
YB 13 Look-through companies and owners of interests Association (1) A look-through company and a person who has a look-through interest for the look-through company (an owner ) and who is a director…
Section YC 13 — Corporate spin-outs
YC 13 Corporate spin-outs When this section applies (1) This section applies if— (a) a share in a company (the spun-out company ) is transferred or issued to a shareholder in another company (the…
Section EJ 13B — Dry well drilled
EJ 13B Dry well drilled When this section applies (1) This section applies when— (a) the petroleum miner has petroleum development expenditure for a well, the drilling of which stops in an income…
Section RD 13B — Adjustments for payroll donations
RD 13B Adjustments for payroll donations When this section applies (1) This section applies when an employee makes a payroll donation for a pay period for which they have a tax credit under section…
Section EJ 13C — Well not producing
EJ 13C Well not producing When this section applies (1) This section applies when— (a) the petroleum miner has petroleum development expenditure for a well that, in an income year— (i) stops…
Section CB 14 — Disposal: amount from land affected by change and not already in income
CB 14 Disposal: amount from land affected by change and not already in income Income (1) An amount that a person derives from disposing of land is income of the person if— (a) the amount is not…
Section CD 14 — Notional distributions of emigrating companies
CD 14 Notional distributions of emigrating companies Dividend (1) A notional distribution of an emigrating company under section FL 2 (Treatment of emigrating companies and their shareholders) is a…
Section CS 14 — Superannuation fund becomes superannuation scheme
CS 14 Superannuation fund becomes superannuation scheme [Repealed] Section CS 14: repealed, on 1 April 2011, by section 12 of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver,…
Section CU 14 — Recovery of reinvestment profit on disposal of mining shares
CU 14 Recovery of reinvestment profit on disposal of mining shares When this section applies (1) This section applies when— (a) a company derives an amount from disposing of a mining share, including…
Section CV 14 — Distributions from community trusts
CV 14 Distributions from community trusts To the extent to which section HC 21 (Distributions from community trusts) applies to treat an amount that a community trust distributes to a person as…
Section CW 14 — Dividends derived by qualifying companies
CW 14 Dividends derived by qualifying companies Section CW 10 does not apply to treat as exempt income a dividend derived by a company that has been a qualifying company at some time before the date…
Section CX 14 — Contributions to sickness, accident, or death benefit funds
CX 14 Contributions to sickness, accident, or death benefit funds A fringe benefit arises when an employer makes a contribution for the benefit of an employee to a sickness, accident, or death…
Section CZ 14 — Treatment of superannuation fund interests in group investment funds on 1 April 1999
CZ 14 Treatment of superannuation fund interests in group investment funds on 1 April 1999 When this section applies (1) This section applies when a superannuation fund has an interest in a group…
Section DB 14 — Security payment
DB 14 Security payment When subsection (2) applies (1) Subsection (2) applies when— (a) a person receives a security payment for a loss; and (b) no other provision of this Act allows the person a…
Section DC 14 — Criteria for approval of share purchase schemes: when period of restriction ends
DC 14 Criteria for approval of share purchase schemes: when period of restriction ends What this section does (1) This section sets out the criteria, relating to the provisions of a share purchase…
Section DT 14 — Farm-out arrangements
DT 14 Farm-out arrangements When this section applies (1) This section applies when a farm-in party under a farm-out arrangement incurs farm-in expenditure that, if it were incurred by the farm-out…
Section DV 14 — Amalgamated company: expenditure on improvements for farming, horticultural, aquacultural, and forestry businesses
DV 14 Amalgamated company: expenditure on improvements for farming, horticultural, aquacultural, and forestry businesses When this section applies (1) This section applies when— (a) an amalgamating…
Section DZ 14 — Deductions under specified leases
DZ 14 Deductions under specified leases When this section applies (1) This section applies for the purposes of sections FZ 2 and FZ 4 (which relate to specified leases). Lessor (2) In an income year…