Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section HL 17 — Treatment of income from interest when entitlement conditional or lacking
HL 17 Treatment of income from interest when entitlement conditional or lacking [Repealed] Section HL 17: repealed, on 1 April 2010 (applying for the 2010–11 and later income years), by section…
Section HM 17 — Same rights to all investment proceeds
HM 17 Same rights to all investment proceeds What this section does (1) This section is an additional entry rule for a PIE that is not a life fund PIE. Same rights in relation to proceeds of…
Section LH 17 — Some definitions
LH 17 Some definitions In this subpart,— associated internal software developer , for a person ( person A ) who is performing, or having another person perform, internal software development at a…
Section OA 17 — When policyholder credit account ends on resident’s restricted amalgamation
OA 17 When policyholder credit account ends on resident’s restricted amalgamation When this section applies (1) This section applies on a resident’s restricted amalgamation referred to in section OA…
Section OB 17 — ICA transfer from policyholder credit account
OB 17 ICA transfer from policyholder credit account [Repealed] Section OB 17: repealed, on 1 July 2010, by section 386(1) of the Taxation (International Taxation, Life Insurance, and Remedial…
Section OC 17 — FDPA credit transfer by company
OC 17 FDPA credit transfer by company Debit (1) An FDPA company has an FDP debit for the amount of an FDP credit attached to a dividend paid by the company and shown in a credit transfer notice given…
Section OD 17 — CTRA breach of CTR ratio
OD 17 CTRA breach of CTR ratio [Repealed] Section OD 17: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 99(1) of the…
Section OE 17 — Person choosing to become BETA person
OE 17 Person choosing to become BETA person Election (1) A person who is eligible under section OE 1(2) and who chooses to become a BETA person may make the election for an income year— (a) at any…
Section OJ 17 — PCA person’s equivalent debit
OJ 17 PCA person’s equivalent debit [Repealed] Section OJ 17: repealed, on 1 July 2010, by section 439(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009…
Section OK 17 — MACA tax advantage arrangement
OK 17 MACA tax advantage arrangement Debit (1) A Maori authority has a Maori authority debit for the amount of a further debit for a tax advantage arrangement referred to in section GB 43(2) and (3)…
Section OP 17 — Consolidated ICA resident withholding tax withheld
OP 17 Consolidated ICA resident withholding tax withheld Credit (1) A consolidated imputation group has an imputation credit for resident withholding tax (RWT) that is treated under section RA…
Section OZ 17 — CTRA reductions
OZ 17 CTRA reductions [Repealed] Section OZ 17: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 126(1) of the Taxation…
Section RA 17 — Payment date when RWT exemption certificate expires
RA 17 Payment date when RWT exemption certificate expires When this section applies (1) This section applies in relation to a month of a tax year when an RWT exemption certificate of a person…
Section RC 17 — When GST ratio must not be used
RC 17 When GST ratio must not be used Requirement to discontinue use of GST ratio (1) Despite section RC 16 , a person must stop using a GST ratio for a tax year and must apply section RC 18(4) or…
Section RD 17 — Payment of extra pay with other PAYE income payments
RD 17 Payment of extra pay with other PAYE income payments When this section applies (1) This section applies when a person pays an amount of extra pay to an employee who also receives a PAYE income…
Section RE 17 — Replacement payments under share-lending arrangements
RE 17 Replacement payments under share-lending arrangements When this section applies (1) This section applies when a person makes a payment of resident passive income that consists of a replacement…
Section RM 17 — Treatment of further income tax paid
RM 17 Treatment of further income tax paid When this section applies (1) This section applies for the purposes of sections RM 2 and RM 4 to RM 6 when a company pays further income tax under sections…
Section RP 17 — Tax pooling intermediaries
RP 17 Tax pooling intermediaries Meeting person A's obligations (1) A person ( person A ) may ask a person who maintains a tax pooling account to act as a tax pooling intermediary between person A…
Section Sch17 — Types and classes of livestock
Schedule 17 Types and classes of livestock ss EC 15 , YA 1 Column 1 Types of livestock Column 2 Classes of livestock Beef cattle Beef breeds and beef crosses Rising 1 year heifers Rising 2 year…
Section YB 17 — Partnerships: partnership and associate of partner
YB 17 Partnerships: partnership and associate of partner [Repealed] Section YB 17: repealed, on 1 April 2010, by section 563(1) of the Taxation (International Taxation, Life Insurance, and Remedial…
Section YC 17 — Demutualisation of insurers
YC 17 Demutualisation of insurers When this section applies (1) This section applies if an insurer stops being a special corporate entity as a result of demutualisation. Former member acquiring…
Section CW 17B — Relocation payments
CW 17B Relocation payments Exempt income (1) An amount that an employer pays to or on behalf of an employee in connection with the expenses of the employee in a work-related relocation is exempt…
Section RP 17B — Tax pooling accounts and their use
RP 17B Tax pooling accounts and their use Meaning (1) A tax pooling account means a trust account into which a tax pooling intermediary pays an amount that they receive from a person in their role as…
Section CW 17C — Payments for overtime meals and certain other allowances
CW 17C Payments for overtime meals and certain other allowances Exempt income: overtime meals (1) An amount that an employer pays to or on behalf of an employee for a meal for the employee when the…
Section CB 18 — Residential exclusion from section CB 14
CB 18 Residential exclusion from section CB 14 Exclusion (1) Section CB 14 does not apply if— (a) the person acquired the land and used it or intended to use it for residential purposes; and (b) they…
Section CD 18 — Dividend reduced if foreign tax paid on company’s income
CD 18 Dividend reduced if foreign tax paid on company’s income When this section applies (1) This section applies when a person— (a) derives a dividend from a company that is a foreign company; and…
Section CS 18 — Value of loan treated as fund income
CS 18 Value of loan treated as fund income [Repealed] Section CS 18: repealed, on 1 April 2011, by section 12 of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial…
Section CU 18 — Amount treated as repayment for purposes of section CU 17: excess
CU 18 Amount treated as repayment for purposes of section CU 17: excess When this section applies (1) This section applies when,— (a) in an income year, a holding company of a mining company is…
Section CW 18 — Allowance for additional transport costs
CW 18 Allowance for additional transport costs Exempt income (1) An allowance that an employee receives from an employer to reimburse the employee’s additional transport costs is exempt income to the…
Section CX 18 — Benefits provided to associates of both employees and shareholders
CX 18 Benefits provided to associates of both employees and shareholders When this section applies (1) This section applies when— (a) a benefit provided to an associated person of an employee would…
Section CZ 18 — Benefit provider approved within 6 months of 25 November 2003
CZ 18 Benefit provider approved within 6 months of 25 November 2003 When this section applies (1) This section applies when a person (the provider )— (a) is— (i) an incorporated body; or (ii) a…
Section DB 18 — Transaction costs: leases
DB 18 Transaction costs: leases Deduction (1) A person is allowed a deduction for expenditure that they incur for the preparation and registration, or the renewal, of a lease of property. Link with…
Section DT 18 — Replacement permits
DT 18 Replacement permits In this subpart, a reference to a petroleum permit includes a reference to a replacement permit. All expenditure incurred, deductions allowed, and petroleum mining assets…
Section DV 18 — Statutory producer boards and co-operative companies
DV 18 Statutory producer boards and co-operative companies When this section applies (1) This section applies for the purposes of sections OB 73 and OB 78 (which relate to imputation credits attached…
Section DZ 18 — Expenditure on improvements to forestry land before 1995–96 income year
DZ 18 Expenditure on improvements to forestry land before 1995–96 income year When this section applies (1) This section applies in an income year when a person incurs expenditure— (a) before the…
Section EB 18 — Costs: other stock of low-turnover traders
EB 18 Costs: other stock of low-turnover traders When this section applies (1) This section applies when a low-turnover trader— (a) acquires trading stock other than by manufacture or production; and…
Section EC 18 — Inaccurate herd value ratio
EC 18 Inaccurate herd value ratio The Commissioner may require a person who is using an inaccurate herd value ratio for a type of livestock in an income year to recalculate the herd value ratio. If…
Section EE 18 — Cost: change from diminishing value to straight-line method
EE 18 Cost: change from diminishing value to straight-line method When this section applies (1) This section applies when a person changes from the diminishing value method to the straight-line…
Section EH 18 — Income when refund given on retirement, and election to allocate amount to earlier year
EH 18 Income when refund given on retirement, and election to allocate amount to earlier year Year of income (1) A refund under section EH 17 is income, under section CB 27 (Income equalisation…
Section EJ 18 — Petroleum mining operations outside New Zealand
EJ 18 Petroleum mining operations outside New Zealand Sections EJ 12 to EJ 17 , EJ 19 , and EJ 20 apply with any necessary modifications to a petroleum miner undertaking petroleum mining operations…
Section EK 18 — Payments from which refunds come
EK 18 Payments from which refunds come Each refund to a person is treated as coming from the total amount in the person’s environmental restoration account in the order in which the person made the…
Section EW 18 — Market valuation method
EW 18 Market valuation method Who may use market valuation method (1) A person who is a party to a financial arrangement may use, for the arrangement, a market valuation method if— (a) either— (i)…
Section EX 18 — Formula for calculating attributed CFC income or loss
EX 18 Formula for calculating attributed CFC income or loss If a person has attributed CFC income under section CQ 2 (When attributed CFC income arises) or an attributed CFC loss under section DN 2…
Section EY 18 — Policyholder base allowable deductions: profit participation policies
EY 18 Policyholder base allowable deductions: profit participation policies For an income year, a life insurer has policyholder base allowable deductions equal to the amount they would have, for…
Section EZ 18 — Section EZ 17 amount of depreciation loss when items transferred between companies in wholly-owned group before 1 April 1993
EZ 18 Section EZ 17 amount of depreciation loss when items transferred between companies in wholly-owned group before 1 April 1993 When this section applies (1) This section applies when, before 1…
Section FA 18 — Treatment of amounts paid in income years after agreement ends
FA 18 Treatment of amounts paid in income years after agreement ends When this section applies (1) This section applies when an amount that is liable to be paid under a hire purchase agreement is…
Section FB 18 — Bloodstock
FB 18 Bloodstock When this section applies (1) This section applies for the purposes of section EC 41 (Reduction: bloodstock not previously used for breeding in New Zealand) when bloodstock is…
Section FE 18 — Measurement of debts and assets of worldwide group
FE 18 Measurement of debts and assets of worldwide group Standards applying (1) The amount of total group debt and the amount of total group assets of the worldwide group of an excess debt entity is…
Section FM 18 — Financial arrangements: transfer from company A to company B
FM 18 Financial arrangements: transfer from company A to company B When this section applies (1) This section applies in an income year in which a company ( company A ) transfers a financial…
Section FO 18 — When amalgamating companies are parties to financial arrangement
FO 18 When amalgamating companies are parties to financial arrangement When this section applies (1) This section applies when amalgamating companies are parties to a financial arrangement that…