Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section EZ 50 — Rules for non-market transactions
EZ 50 Rules for non-market transactions (1) Where the Commissioner, having regard to any connection between the parties to the issue or transfer of a financial arrangement and to any other relevant…
Section GB 50 — Arrangements involving partners
GB 50 Arrangements involving partners When this section applies (1) This section applies when— (a) a partner of a partnership enters into an arrangement; and (b) the arrangement involves an amount of…
Section HM 50 — Attributing credits to investors
HM 50 Attributing credits to investors When this section applies (1) This section applies when a multi-rate PIE has a tax credit other than a tax credit under subpart LS (Tax credits for multi-rate…
Section OB 50 — ICA returning share transfer
OB 50 ICA returning share transfer Debit (1) An ICA company has an imputation debit for the amount of an imputation credit attached to a dividend paid to the company as a share user in a returning…
Section OP 50 — Consolidated ICA refund of schedular income tax
OP 50 Consolidated ICA refund of schedular income tax Debit (1) A consolidated imputation group that includes an Australian ICA company has an imputation debit for the amount of a refund of a payment…
Section RD 50 — Employer’s liability for attributed benefits
RD 50 Employer’s liability for attributed benefits When this section applies (1) This section applies when an employer is required to attribute the value of a fringe benefit to an employee under…
Section Sch50-“ 140 — Where another person withholds RWT
“ 140 Where another person withholds RWT For the purposes of determining a person’s liability to pay a late payment penalty, the person is treated as having withheld or accounted for an amount of tax…
Section Sch50-“ 25 — RWT withholding certificates
“ 25 RWT withholding certificates “ (1) Subsection (1B) applies when a person withholds RWT for resident passive income paid to or derived by any other person that is— “ (a) interest; or “ (b) a…
Section Sch50-“ 28 — Recipient of resident passive income to provide tax file number when RWT not withheld
“ 28 Recipient of resident passive income to provide tax file number when RWT not withheld A person who receives from a payment of resident passive income, that is interest, must provide their tax…
Section Sch50-“ 47 — ESCT statements provided by employers
“ 47 ESCT statements provided by employers “ (1) This section applies when an employer or PAYE intermediary withholds in a period an amount of ESCT from an employer’s superannuation contribution. “…
Section Sch50-“ 49 — NRWT withholding certificates and annual reconciliations
“ 49 NRWT withholding certificates and annual reconciliations “ (1) Subsection (1B) applies when a person in a year— “ (a) withholds, or is required by the NRWT rules to withhold, NRWT for…
Section Sch50-“ 51 — RWT withholding reconciliation statements
“ 51 RWT withholding reconciliation statements “ (1) Subsection (1B) applies when a person withholds (or is required by the RWT rules to withhold, but fails to do so) RWT for resident passive income…
Section Sch50-“ 52 — Disclosure of interest payments when no requirement to withhold RWT
“ 52 Disclosure of interest payments when no requirement to withhold RWT A person who in a year pays an amount of resident passive income that is interest,— “ (a) for which RWT is required to be…
Section Sch50-“ 69 — Annual ICA return
“ 69 Annual ICA return “ (1) An imputation credit account (ICA) company must provide to the Commissioner an annual ICA return in the prescribed form for a tax year, showing— “ (a) the opening balance…
Section Sch50-“ 71 — Annual FDPA return
“ 71 Annual FDPA return A foreign dividend payment (FDPA) company must, not later than the time allowed under section 37 for providing a return of income for an income year, provide to the…
Section Sch50-“ 225AA — Regulations: co-operative dairy and marketing companies
“ 225AA Regulations: co-operative dairy and marketing companies “ (1) The Governor-General may from time to time, by Order in Council, make regulations for the type of company described in subsection…
Section Sch50-“ 41A — Returns by persons with tax credits for housekeeping payments and charitable or other public benefit gifts
“ 41A Returns by persons with tax credits for housekeeping payments and charitable or other public benefit gifts “ (1) A person who has a tax credit under section LC 7 or subpart LD of the Income Tax…
Section Sch50-“ 68A — Statement when CTR credit attached to dividend
“ 68A Statement when CTR credit attached to dividend If a CTR company attaches a CTR credit to a dividend, the company must include the following information in the company dividend statement…
Section Sch50-“ 80KA — Applications for payment of tax credit by instalment
“ 80KA Applications for payment of tax credit by instalment “ (1) This section applies to applications made under section MF 1 of the Income Tax Act 2007. “ (2) An application by a person who wants…
Section Sch50-“ 92AA — Assessment for tax credits under Part M of Income Tax Act 2007
“ 92AA Assessment for tax credits under Part M of Income Tax Act 2007 The Commissioner must make an income tax assessment for a tax year for a taxpayer who has a tax credit identified in Part M of…
Section CX 50B — Contributions to retirement savings schemes
CX 50B Contributions to retirement savings schemes Excluded income (1) A retirement scheme contribution is excluded income of a person if they are— (a) the person for whose benefit the contribution…
Section Sch50-“ 104B — Determination of credits and debits in memorandum accounts
“ 104B Determination of credits and debits in memorandum accounts “ (1) In this section,— “ credit date means the credit date recorded when a memorandum credit arises in a memorandum account “ debit…
Section Sch50-“ 165B — Recovery of overpaid refunds: NRWT
“ 165B Recovery of overpaid refunds: NRWT “ (1) This section applies for the purposes of the NRWT rules when the amount of a refund made to a person is more than the amount properly refundable to…
Section Sch50-“ 166B — Shipping business of absentee taxpayer
“ 166B Shipping business of absentee taxpayer “ (1) This section applies if an assessment is made in relation to— “ (a) an absentee who carries on a shipping business carrying goods or passengers; or…
Section Sch50-“ 225B — Order in Council amending schedule 27
“ 225B Order in Council amending schedule 27 “ (1) The Governor-General may from time to time, by Order in Council, amend schedule 27 of the Income Tax Act 2007 by— “ (a) adding a country or…
Section Sch50-“ 24B — PAYE tax codes
“ 24B PAYE tax codes “ (1) This section applies for the purposes of the PAYE rules to provide an employee with a tax code for a PAYE income payment. Subsection (2) overrides this subsection. “ (2)…
Section Sch50-“ 46B — FBT returns for quarters
“ 46B FBT returns for quarters “ (1) This section applies to an employer who pays their FBT liability under the single rate option or the alternate rate option. The employer chooses the relevant…
Section Sch50-“ 71B — Return requirements for refunds: foreign dividends
“ 71B Return requirements for refunds: foreign dividends “ (1) This section applies for the purposes of section RM 21(3) of the Income Tax Act 2007 when a loss balance is used to reduce a company’s…
Section Sch50-“ 78B — Applications for tax credits
“ 78B Applications for tax credits “ (1) A taxpayer who has a tax credit under section LJ 2 or LK 1 of the Income Tax Act 2007 must apply for the credit within 4 years after the end of the tax year…
Section Sch50-“ 80KB — Contents of application
“ 80KB Contents of application “ (1) An application referred to in section 80KA must— “ (a) be in a form prescribed by the Commissioner; and “ (b) be signed by the person and any other person who, at…
Section Sch50-“ 92AB — Assessments of liabilities of shareholders of qualifying companies
“ 92AB Assessments of liabilities of shareholders of qualifying companies “ (1) The Commissioner may assess the liability of a shareholder who has agreed under section HA 8 of the Income Tax Act 2007…
Section Sch50-“ 93B — Trustee income: Commissioner’s power to assess
“ 93B Trustee income: Commissioner’s power to assess “ (1) This section applies when a person— “ (a) fails to disclose details of a trust under section 59; or “ (b) fails to provide information that…
Section Sch50-“ 24C — Tax code for payment that includes income-tested benefit
“ 24C Tax code for payment that includes income-tested benefit If an employee receives a PAYE income payment of an income-tested benefit and a PAYE income payment that does not consist of an…
Section Sch50-“ 46C — FBT returns for years
“ 46C FBT returns for years “ (1) This section applies to an employer who pays their FBT liability under the close company option or the small business option. The employer chooses the relevant…
Section Sch50-“ 78C — Disclosure when changes occur
“ 78C Disclosure when changes occur A taxpayer must provide to the Commissioner, as soon as possible, all relevant information if — “ (a) an amount referred to in section LJ 6 of the Income Tax Act…
Section Sch50-“ 80KC — When tax file number of child does not accompany application
“ 80KC When tax file number of child does not accompany application “ (1) Subsection (2) applies when— “ (a) an application referred to in section 80KA is not accompanied by the tax file number of…
Section Sch50-“ 93C — Foreign tax credits: Commissioner’s power to amend assessments
“ 93C Foreign tax credits: Commissioner’s power to amend assessments “ (1) This section applies when a person is entitled to a tax credit under section LK 1 of the Income Tax Act 2007 and— “ (a) the…
Section Sch50-“ 24D — Tax code for parental leave payment
“ 24D Tax code for parental leave payment The tax code applying to an employee’s parental leave payment under Part 7A of the Parental Leave and Employment Protection Act 1987 is their tax code before…
Section Sch50-“ 44D — Natural product dealer certificate
“ 44D Natural product dealer certificate “ (1) For the purposes of schedule 4, part H of the Income Tax Act 2007, the Commissioner may issue a natural product dealer certificate to a person who…
Section Sch50-“ 46D — FBT returns: changes in payment periods
“ 46D FBT returns: changes in payment periods “ (1) This section applies when an employer chooses to pay income tax on an income year basis under the close company option, and the first day of the…
Section Sch50-“ 78D — Evidential requirements for tax credits
“ 78D Evidential requirements for tax credits A taxpayer who has a tax credit under section LB 3 or subparts LE, LF, or LO of the Income Tax Act 2007, must provide the Commissioner with sufficient…
Section Sch50-“ 80KD — What Commissioner must do on receipt of application
“ 80KD What Commissioner must do on receipt of application “ (1) This section applies when the Commissioner receives an application that complies with section 80KB. “ (2) The Commissioner must do the…
Section Sch50-“ 120OE — Interest paid on deposits in tax pooling accounts
“ 120OE Interest paid on deposits in tax pooling accounts “ (1) Interest paid by the Commissioner on an amount deposited in a tax pooling intermediary’s tax pooling account accrues to the benefit of…
Section Sch50-“ 24E — Tax code for employment as private domestic worker
“ 24E Tax code for employment as private domestic worker An employee who wishes to have a tax code for their employment as a private domestic worker may provide their tax code notification to the…
Section Sch50-“ 32E — Applications for RWT exemption certificates
“ 32E Applications for RWT exemption certificates “ (1) A person listed in subsection (2) may apply to the Commissioner for an RWT exemption certificate. “ (2) The persons are— “ (a) a registered…
Section Sch50-“ 46E — FBT returns: information for calculations
“ 46E FBT returns: information for calculations “ (1) This section applies for the purposes of sections RD 58(2), RD 60(4), and RD 61(4) of the Income Tax Act 2007 when an employer asks the…
Section Sch50-“ 78E — Information for underlying foreign credits
“ 78E Information for underlying foreign credits “ (1) For the purposes of section LL 2 of the Income Tax Act 2007, a taxpayer must have available to provide, if asked,— “ (a) a copy of a receipt…
Section Sch50-“ 80KE — Notices of entitlement
“ 80KE Notices of entitlement A notice of entitlement issued under section 80KD— “ (a) is not transferable; and “ (b) is subject to the terms and conditions set out in it by the Commissioner. “…
Section Sch50-“ 24F — Special tax code certificates
“ 24F Special tax code certificates “ (1) The Commissioner may provide an employee with a special tax code certificate, whether because the employee has 2 or more employments, or is entitled to have…
Section Sch50-“ 32F — Calculation of annual gross income when threshold met
“ 32F Calculation of annual gross income when threshold met For the purposes of section 32E(2)(i), when the person is part of a group of companies, the person’s annual gross income is determined by—…