Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section DB 3 — Determining tax liabilities
DB 3 Determining tax liabilities Deduction (1) A person is allowed a deduction for expenditure that they incur in connection with the following matters: (a) calculating or determining their income…
Section DC 3 — Pension payments to former partners
DC 3 Pension payments to former partners When this section applies (1) This section applies when— (a) a person is a partner in a partnership; or (b) a person who was a partner in a partnership is in…
Section DD 3 — When limitation rule does not apply
DD 3 When limitation rule does not apply The limitation rule is either restricted in its application or does not apply to deductions for the expenditure described in sections DD 4 to DD 8 . Defined…
Section DE 3 — Methods for calculating proportion of business use
DE 3 Methods for calculating proportion of business use The 3 methods that may be used to calculate the proportion of business use of a motor vehicle are— (a) actual records, see section DE 5 : (b) a…
Section DF 3 — Identifying expenditure for purposes of sections DF 1 and DF 2
DF 3 Identifying expenditure for purposes of sections DF 1 and DF 2 For the purposes of sections DF 1 and DF 2 , a statement by a person making a grant-related suspensory loan as to the expenditure…
Section DN 3 — Calculation of attributed CFC loss
DN 3 Calculation of attributed CFC loss The amount of an attributed CFC loss is calculated under sections EX 18 to EX 20 (which relate to the calculation of attributed CFC income or loss). Defined in…
Section DO 3 — Trees on farms
DO 3 Trees on farms When this section applies (1) This section applies when— (a) a person carries on, on land in New Zealand, a farming or agricultural business that is the principal business carried…
Section DP 3 — Improvements to forestry land
DP 3 Improvements to forestry land When this section applies (1) This section applies when— (a) a person carries on a forestry business on land in New Zealand; and (b) an improvement described in…
Section DQ 3 — Thinning operations income equalisation scheme
DQ 3 Thinning operations income equalisation scheme Deduction (1) A person who has made a deposit for a tax year is allowed a deduction of the amount quantified in section EH 67(2) (Deduction of…
Section DR 3 — Life reinsurance outside New Zealand
DR 3 Life reinsurance outside New Zealand No deduction A life insurer is denied a deduction for life reinsurance premiums they incur if the relevant life reinsurance policy,–– (a) was not offered in…
Section DS 3 — Clawback of deductions for film reimbursement schemes
DS 3 Clawback of deductions for film reimbursement schemes Reduction of deductions (1) A person who disposes of property under a film reimbursement scheme must use the formula in subsection (3) to…
Section DT 3 — Acquisition of privileges and permits
DT 3 Acquisition of privileges and permits The consideration that a person pays to acquire an existing privilege, a prospecting permit for petroleum, or an exploration permit for petroleum from a…
Section DU 3 — Replacing or repairing asset
DU 3 Replacing or repairing asset When subsections (2) to (4) apply (1) Subsections (2) to (4) apply when— (a) a mining company complies with section CU 6(2) (Compensation and scrap payment: use to…
Section DV 3 — Formula for calculating maximum deduction
DV 3 Formula for calculating maximum deduction Formula (1) The formula referred to in section DV 2(8) is— taxable income − non-resident passive income. Definition of items in formula (2) The items in…
Section DW 3 — Non-resident general insurers and shippers
DW 3 Non-resident general insurers and shippers No deduction (1) A person listed in subsection (2) is denied a deduction for expenditure incurred in deriving the income described in the relevant…
Section DX 3 — Tax credits: supplementary dividend holding companies
DX 3 Tax credits: supplementary dividend holding companies [Repealed] Section DX 3: repealed, on 1 October 2012 (applying for the 2013–14 and later income years), by section 17(1) of the Taxation…
Section DZ 3 — Petroleum mining: development expenditure from 1 October 1990 to 15 December 1991
DZ 3 Petroleum mining: development expenditure from 1 October 1990 to 15 December 1991 Deduction (1) A petroleum miner is allowed a deduction for petroleum mining development expenditure incurred by…
Section EA 3 — Prepayments
EA 3 Prepayments When this section applies (1) This section applies when— (a) a person has been allowed a deduction for expenditure under this Act or an earlier Act; and (b) the expenditure was not…
Section EB 3 — Valuation of trading stock
EB 3 Valuation of trading stock Valuation method (1) A person who carries on a business must determine the value of their trading stock at the end of each income year by a method that is available…
Section EC 3 — Livestock valuation methods
EC 3 Livestock valuation methods Specified livestock (1) The value of specified livestock is determined under sections EC 6 to EC 27 . Non-specified livestock (2) The value of non-specified livestock…
Section ED 3 — Part-year tax calculations for transfers: general insurance OCR
ED 3 Part-year tax calculations for transfers: general insurance OCR When this section applies (1) This section applies when an insurer to whom sections CR 4 and DW 4 (which relate to outstanding…
Section EE 3 — Ownership of goods subject to reservation of title
EE 3 Ownership of goods subject to reservation of title When this section applies (1) This section applies when— (a) a person (the buyer ) enters into an unconditional contract to buy an item of…
Section EF 3 — Accident compensation levies and premiums
EF 3 Accident compensation levies and premiums Timing of deduction (1) A deduction that an employer or self-employed person is allowed for an Accident Compensation Corporation (ACC) levy or premium…
Section EG 3 — Allocation of income, deductions, and tax credits by portfolio tax rate entity
EG 3 Allocation of income, deductions, and tax credits by portfolio tax rate entity [Repealed] Section EG 3: repealed, on 1 April 2010 (applying for the 2010–11 and later income years), by section…
Section EH 3 — Persons to whom main income equalisation scheme applies
EH 3 Persons to whom main income equalisation scheme applies Meaning of farmer, fisher, and forester for main income equalisation scheme (1) The main income equalisation scheme applies to— (a) a…
Section EI 3 — Assigning or granting copyright
EI 3 Assigning or granting copyright When this section applies (1) This section applies when a person— (a) is the author of a literary, dramatic, musical, or artistic work; and (b) made the work over…
Section EJ 3 — Spreading forward of fertiliser expenditure
EJ 3 Spreading forward of fertiliser expenditure When this section applies (1) This section applies when— (a) a person carries on a farming or agricultural business on land in New Zealand; and (b)…
Section EK 3 — Payments to environmental restoration account
EK 3 Payments to environmental restoration account Upper limit of payment (1) A person must not make a payment for an income year of more than the person’s maximum payment for the income year. Lower…
Section EW 3 — What is a financial arrangement?
EW 3 What is a financial arrangement? Meaning (1) Financial arrangement means an arrangement described in any of subsections (2) to (4). Money received for money provided (2) A financial arrangement…
Section EX 3 — Control interest: total of direct, indirect, and associated person interests
EX 3 Control interest: total of direct, indirect, and associated person interests Calculation of control interest (1) A New Zealand resident’s control interest in a foreign company at any time is the…
Section EY 3 — Shareholder base
EY 3 Shareholder base Shareholder base income (1) A life insurer has shareholder base income,— (a) for policies that are not profit participation policies, under section EY 19 : see also subsection…
Section EZ 3 — Petroleum development expenditure from 1 October 1990 to 15 December 1991
EZ 3 Petroleum development expenditure from 1 October 1990 to 15 December 1991 Timing of deduction (1) Expenditure that is allowed as a deduction under section DZ 3 (Petroleum mining: development…
Section FA 3 — Recharacterisation of certain dividends: recovery of cost of shares held on revenue account
FA 3 Recharacterisation of certain dividends: recovery of cost of shares held on revenue account When this section applies (1) This section applies to the amount of a dividend derived from shares…
Section FB 3 — Land acquired for certain purposes or under certain conditions
FB 3 Land acquired for certain purposes or under certain conditions When this section applies (1) This section applies for the purposes of sections CB 6 to CB 12 , CB 14 , CB 17 , CB 20 , and CB 23…
Section FC 3 — Property transferred to spouse, civil union partner, or de facto partner
FC 3 Property transferred to spouse, civil union partner, or de facto partner When this section applies (1) This section applies in the circumstances described in section FC 1(1)(a) or (b) when…
Section FE 3 — Interest apportionment for individuals
FE 3 Interest apportionment for individuals Natural persons and trustees: inbound, not described in section FE 2(1)(g) (1) This subpart applies to a natural person or trustee not described in section…
Section FF 3 — Steps required to determine treatment of excessive interest expenditure
FF 3 Steps required to determine treatment of excessive interest expenditure [Repealed] Section FF 3: repealed (with effect on 30 June 2009), on 6 October 2009, by section 228(1) of the Taxation…
Section FM 3 — Liability of consolidated groups and group companies
FM 3 Liability of consolidated groups and group companies Taxable income of consolidated group (1) For the purposes of calculating the income tax liability for a tax year of a consolidated group…
Section FN 3 — Liabilities of companies in imputation group
FN 3 Liabilities of companies in imputation group A company that is part of an imputation group is jointly and severally liable for further income tax, civil penalties, and interest under Part 7 of…
Section FO 3 — Resident’s restricted amalgamations
FO 3 Resident’s restricted amalgamations What is a resident’s restricted amalgamation? (1) In the amalgamation rules, an amalgamation is a resident’s restricted amalgamation if, at the time of the…
Section FZ 3 — Income of lessor under specified lease
FZ 3 Income of lessor under specified lease Interest (1) The income of a lessor derived under a specified lease is treated as interest. Treatment of amount derived (2) The amount of interest derived…
Section GB 3 — Arrangements for carrying forward loss balances: companies
GB 3 Arrangements for carrying forward loss balances: companies When this section applies (1) This section applies when— (a) a share in a company (the loss company ) or another company has been…
Section GC 3 — Disposals by life insurers
GC 3 Disposals by life insurers Section GC 1 applies to a life insurer that disposes of any property, other than a financial arrangement, in the course of their business of life insurance, as if the…
Section GZ 3 — Donations of trading stock for relief of Canterbury earthquakes
GZ 3 Donations of trading stock for relief of Canterbury earthquakes Section GC 1 (Disposals of trading stock at below market value) does not apply to the disposal of trading stock by a person to a…
Section HA 3 — Meaning of loss-attributing qualifying company
HA 3 Meaning of loss-attributing qualifying company [Repealed] Section HA 3: repealed, on 1 April 2011 (applying for income years beginning on or after 1 April 2011), by section 71(1) of the Taxation…
Section HB 3 — Loss balances extinguished
HB 3 Loss balances extinguished Despite sections HB 1 and HB 2 , a loss balance under Part I (Treatment of tax losses) is cancelled if the loss balance arose in relation to an income year when a…
Section HC 3 — Multiple settlements
HC 3 Multiple settlements For the purposes of this subpart, if a settlement is made on a trust and further settlements are made on the same terms, a trustee of the trust may treat all the settlements…
Section HD 3 — Agents’ duties and liabilities
HD 3 Agents’ duties and liabilities When this section applies (1) This section applies for the purposes of sections HD 8 to HD 27 in relation to all income derived by a principal through a business…
Section HE 3 — Association rebates
HE 3 Association rebates Meaning (1) In this subpart, and in sections CB 34 and DV 19 (which relate to income and deductions relating to mutual transactions), an association rebate means a payment by…
Section HF 3 — Applying provisions to Maori authorities
HF 3 Applying provisions to Maori authorities Relationship with provisions generally (1) A provision in the Maori authority rules overrides any other provision in this Act that may apply to a Maori…