Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section GB 18 — Arrangements to acquire film rights or incur production expenditure
GB 18 Arrangements to acquire film rights or incur production expenditure When this section applies (1) This section applies if the Commissioner considers that 2 persons have made arrangements so…
Section HA 18 — Treatment of dividends when qualifying company status ends
HA 18 Treatment of dividends when qualifying company status ends When this section applies (1) This section applies when a company’s status as a qualifying company ends under section HA 11(1) .…
Section HC 18 — Taxable distributions from foreign trusts
HC 18 Taxable distributions from foreign trusts An amount that a person derives in an income year as a taxable distribution from a foreign trust is income of the person under section CV 13(c)…
Section HD 18 — Agency in relation to absentees generally
HD 18 Agency in relation to absentees generally What sections HD 19 to HD 25 do (1) Sections HD 19 to HD 25 apply for the purposes of this Act to treat a person as an agent in relation to the income…
Section HL 18 — Certain new investors treated as part of existing portfolio investor class
HL 18 Certain new investors treated as part of existing portfolio investor class [Repealed] Section HL 18: repealed, on 1 April 2010 (applying for the 2010–11 and later income years), by section…
Section HM 18 — Requirements for listed PIEs: unlisted companies
HM 18 Requirements for listed PIEs: unlisted companies Choosing to become listed PIE (1) A company that is not listed on a recognised exchange in New Zealand may choose under section HM 71 to become…
Section OA 18 — Calculation of maximum permitted ratios
OA 18 Calculation of maximum permitted ratios When this section applies (1) This section applies in relation to an imputation credit, an FDP credit, and a Maori authority credit, for the purposes of…
Section OB 18 — ICA transfer from ASC account
OB 18 ICA transfer from ASC account Credit (1) An ICA company has an imputation credit for the transfer of an amount from its available subscribed capital (ASC) account. The amount is calculated…
Section OC 18 — FDPA transfer to imputation credit account
OC 18 FDPA transfer to imputation credit account Election (1) An FDPA company may choose for a tax year to transfer some or all of a closing credit balance in the company’s FDP account to the…
Section OD 18 — CTRA tax advantage arrangement
OD 18 CTRA tax advantage arrangement [Repealed] Section OD 18: 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…
Section OE 18 — When person stops being BETA person
OE 18 When person stops being BETA person Election (1) A BETA person may choose to stop the branch equivalent tax account. When election made (2) A person may make an election under subsection (1)…
Section OJ 18 — PCA person’s debit for transfer of life insurance business
OJ 18 PCA person’s debit for transfer of life insurance business [Repealed] Section OJ 18: repealed, on 1 July 2010, by section 439(1) of the Taxation (International Taxation, Life Insurance, and…
Section OK 18 — MACA final balance
OK 18 MACA final balance Debit (1) A Maori authority has a Maori authority debit for a credit balance in the Maori authority credit account when the Maori authority stops being a Maori authority.…
Section OP 18 — Consolidated ICA transfer from group company’s FDP account
OP 18 Consolidated ICA transfer from group company’s FDP account Credit (1) A consolidated imputation group has an imputation credit for an amount equal to the amount of an FDP debit under section OC…
Section OZ 18 — Credit-back of PCA balance
OZ 18 Credit-back of PCA balance When this section applies (1) This section applies for a life insurer immediately before a day (the application day ) that is— (a) 1 July 2010, if the life insurer…
Section RA 18 — Payment date for emigrating companies
RA 18 Payment date for emigrating companies When this section applies (1) This section applies to an emigrating company that is treated under section FL 2 (Treatment of emigrating companies and their…
Section RC 18 — Changing calculation method
RC 18 Changing calculation method When this section applies (1) This section applies if, after having chosen to use a GST ratio for a tax year, a person liable to pay provisional tax either— (a)…
Section RD 18 — Schedular payments without notification
RD 18 Schedular payments without notification When this section applies (1) This section applies when a person makes a schedular payment but the notification required under section 24L of the Tax…
Section RE 18 — Payments made by RWT proxies
RE 18 Payments made by RWT proxies Calculation of amount of tax (1) A person who is an RWT proxy for a person paying resident passive income that consists of a dividend must withhold an amount of tax…
Section RM 18 — Limits on refunds related to foreign dividends
RM 18 Limits on refunds related to foreign dividends Maximum refund (1) Despite section RM 3 , if the overpayment described in that section relates to an earlier tax year, the refund must be no more…
Section RP 18 — Deposits in tax pooling accounts
RP 18 Deposits in tax pooling accounts When this section applies (1) This section applies when a tax pooling intermediary makes a deposit in a tax pooling account on behalf of a person. Deposit held…
Section Sch18 — Categories of livestock for which national standard costs to be declared
Schedule 18 Categories of livestock for which national standard costs to be declared ss EC 23 , EC 24 Column 1 Column 2 Column 3 Types of livestock Categories for which national standard costs to be…
Section YB 18 — Persons habitually acting together: 1988 version provisions
YB 18 Persons habitually acting together: 1988 version provisions [Repealed] Section YB 18: repealed, on 1 April 2010, by section 563(1) of the Taxation (International Taxation, Life Insurance, and…
Section YC 18 — Reverse takeovers
YC 18 Reverse takeovers When subsections (2) and (3) apply (1) Subsections (2) and (3) apply if— (a) a limited attribution company (the initial parent ) is treated under section YC 11(3) as holding…
Section EX 18A — Scheme for finding person's attributed CFC income or loss
EX 18A Scheme for finding person's attributed CFC income or loss Formula and rules for calculation (1) The attributed CFC income or loss of a person (an interest holder ) holding an income interest…
Section YC 18B — Corporate reorganisations not affecting economic ownership
YC 18B Corporate reorganisations not affecting economic ownership When subsection (3) applies (1) Subsection (3) applies if a company (the initial parent ) enters into an arrangement described in…
Section CB 19 — Business exclusion from sections CB 6 to CB 11
CB 19 Business exclusion from sections CB 6 to CB 11 Exclusion (1) Sections CB 6 to CB 11 do not apply to a disposal of land if— (a) the land is the premises of a business; and (b) the person…
Section CD 19 — Foreign tax credits and refunds linked to dividends
CD 19 Foreign tax credits and refunds linked to dividends Foreign tax credits (1) If a double tax agreement gives a person a tax credit in a foreign country when they derive a dividend from that…
Section CU 19 — Amount treated as repayment for purposes of section CU 17: net income
CU 19 Amount treated as repayment for purposes of section CU 17: net income When this section applies (1) This section applies when— (a) a holding company of a mining company is allowed, under…
Section CW 19 — Amounts derived during short-term visits
CW 19 Amounts derived during short-term visits Exempt income (1) Income that a non-resident person derives in a tax year from performing personal or professional services in New Zealand during a…
Section CX 19 — Benefits provided instead of allowances
CX 19 Benefits provided instead of allowances When not fringe benefit (1) A benefit that an employer provides to an employee in connection with their employment is not a fringe benefit to the extent…
Section CZ 19 — Community trust receipts in 2004–05 or 2005–06 tax year
CZ 19 Community trust receipts in 2004–05 or 2005–06 tax year An amount of income derived by a trustee or company is exempt income if— (a) the amount would be exempt income under section CW 41…
Section DB 19 — Expenses of failed or withdrawn application for resource consent
DB 19 Expenses of failed or withdrawn application for resource consent Deduction (1) A person who applies for the grant of a resource consent under the Resource Management Act 1991 and is refused the…
Section DT 19 — Partnership interests and disposal of part of asset
DT 19 Partnership interests and disposal of part of asset In this subpart, unless the context requires otherwise,— (a) a partner is treated as having a share or interest in a petroleum permit or…
Section DV 19 — Association rebates
DV 19 Association rebates When this section applies (1) This section applies when an association— (a) enters into a mutual transaction with a member; and (b) in relation to the transaction, pays an…
Section DZ 19 — Attributed CFC loss carried back under section EZ 32C
DZ 19 Attributed CFC loss carried back under section EZ 32C [Repealed] Section DZ 19: repealed (with effect on 30 June 2009), on 2 November 2012 (applying for income years beginning on or after 1…
Section EB 19 — Discounted selling price for low-turnover traders
EB 19 Discounted selling price for low-turnover traders Financial statements prepared (1) A low-turnover trader who prepares financial statements may determine the value of their closing stock at its…
Section EC 19 — Chatham Islands adjustment to herd value
EC 19 Chatham Islands adjustment to herd value Adjustment for herd livestock on Chatham Islands (1) A person may adopt an adjustment for herd livestock on the Chatham Islands by giving notice in the…
Section EE 19 — Cost: fixed life intangible property
EE 19 Cost: fixed life intangible property When this section applies (1) This section applies when— (a) a person owns an item of fixed life intangible property; and (b) the person incurs additional…
Section EH 19 — Refund on death
EH 19 Refund on death When this section applies (1) This section applies when a person— (a) has a main income equalisation account; and (b) dies. Refund (2) Despite section FC 2 (Transfer at market…
Section EJ 19 — Meaning of offshore development
EJ 19 Meaning of offshore development [Repealed] Section EJ 19: repealed (with effect on 1 April 2008), on 6 October 2009, by section 131(1) of the Taxation (International Taxation, Life Insurance,…
Section EK 19 — Environmental restoration account of amalgamating company
EK 19 Environmental restoration account of amalgamating company If an amalgamating company with an environmental restoration account ends its existence on an amalgamation during an income year,— (a)…
Section EW 19 — Choice among some spreading methods
EW 19 Choice among some spreading methods A person who is not required to use a method under section EW 15B and who may use the yield to maturity method or an alternative, the straight-line method,…
Section EX 19 — Taxable distribution from non-complying trust
EX 19 Taxable distribution from non-complying trust Application of this section (1) This section applies when— (a) a CFC derives a taxable distribution from a non-complying trust in an accounting…
Section EY 19 — Shareholder base income: non-participation policies
EY 19 Shareholder base income: non-participation policies What is included (1) For an income year, a life insurer's income is included as their shareholder base income if it relates to life insurance…
Section EZ 19 — Section EZ 17 amount of depreciation loss when person previously exempt from tax acquires item
EZ 19 Section EZ 17 amount of depreciation loss when person previously exempt from tax acquires item When this section applies (1) This section applies when a person who has derived nothing but…
Section FB 19 — Leased assets
FB 19 Leased assets When this section applies (1) This section applies when— (a) a person leases, rents, or hires plant, machinery, or other equipment, including a motor vehicle or a temporary…
Section FE 19 — Banking group’s equity threshold
FE 19 Banking group’s equity threshold Requirement for New Zealand banking group: formula (1) A reporting bank must calculate the equity threshold of its New Zealand banking group for a tax year…
Section FM 19 — Financial arrangements: transfer for fair and reasonable consideration
FM 19 Financial arrangements: transfer for fair and reasonable consideration When this section applies (1) This section applies in an income year in which a company ( company A ) transfers a…
Section FO 19 — Calculation of outstanding accrued balance: consideration for discharge
FO 19 Calculation of outstanding accrued balance: consideration for discharge Formula (1) In section FO 18(2)(a) , the outstanding accrued balance is calculated using the formula— consideration +…