1: Title
This Act is the Taxation (Taxpayer Assessment and Miscellaneous Provisions) Act 2001.
2: Commencement
This Act comes into force on the day on which it receives the Royal assent.
1: Amendments to Income Tax Act 1994
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
3: Income Tax Act 1994
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
4: New
section BD 2A Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
5: Non-profit bodies and charities exempt income
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
6: Exempt income--certain aircraft operators
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
7: Land transactions
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
8: Meaning of term dividends
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
9: Exclusions from term dividends
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
10: Calculation and attribution of controlled foreign company repatriation
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
11: Benefit from share option or purchase schemes
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
12: Interpretation
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
13: Value of fringe benefit
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
14: Application of other provisions to fringe benefit tax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
15: Income from minerals, timber or flax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
16: Primary producer co-operative companies
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
17: Calculation of actuarial reserves
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
18: Specified suspensory loans
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
19: Grant-related suspensory loans
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
20: Certain deductions not allowed--rents, interest and premises
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
21: Section DF 2 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
22: Contributions to employees' superannuation schemes
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
23: Pensions payable to former employees
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
24: Retiring allowances payable to employees
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
25: Payments to employees or former employees while on naval, military or air service
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
26: Limitation on deduction for expenditure on specified types of entertainment
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
27: Use of actual records to establish business use proportion of motor vehicle
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
28: Allowable deductions of building societies
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
29: Deduction to Maori authorities for donations to Maori associations
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
30: Expenditure incurred by superannuation funds
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
31: Expenditure by group investment fund
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
32: New
sections DI 3B and DI 3C Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
33: Certain deductions not allowed--bad debts, share losses and indemnities
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
34: Deduction from estate income of irrecoverable book debts
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
35: Chatham Island dues
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
36: Patent expenses
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
37: Misappropriation by partner of property entrusted to partnership
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
38: Misappropriation by employees and other persons for the purposes of business of taxpayer
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
39: Expenditure on scientific research
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
40: New sections DJ 9A and DJ 9B inserted
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
41: Expenditure to prevent or combat pollution of environment
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
42: Expenditure incurred in borrowing money or obtaining lease
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
43: Expenditure on acquiring land
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
44: Cost of timber
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
45: Forestry business carried on by company on land acquired partly from Crown, partly from Maori owners and partly from holding company
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
46: Expenditure in respect of forestry encouragement agreements under Forestry Encouragement Act 1962
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
47: Treatment of petroleum mining exploration and development expenditure
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
48: Companies engaged in exploring for, searching for, or mining certain minerals
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
49: Amounts from sale of mining shares by companies
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
50: Companies holding shares in mining companies
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
51: Expenditure on land improvements used for farming or agriculture
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
52: Farmers' expenditure on tree planting
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
53: Capitalisation of mortgage interest
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
54: Section EC 1 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
55: Treatment of interest under
Part 7 of Tax Administration Act 1994 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
56: Reassessments
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
57: Depreciation of depreciable property that can no longer be used
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
58: Additional depreciation in respect of certain new assets acquired or improvements made between 16 December 1991 and 1 April 1994
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
59: Supplementary depreciation allowance for plant and machinery used in 2 and 3 shift industries
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
60: Disposition of depreciable property
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
61: Post facto adjustment
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
62: Relationship with rest of Act
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
63: Relationship with rest of Act
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
64: Rules for non-market transactions
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
65: Relationship with rest of Act
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
66: Sale for no consideration or for consideration less than market price
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
67: Adjustment in certain circumstances
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
68: Deposits to be allowed as deduction
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
69: General provisions as to refunds
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
70: Deposits to be allowed as deduction
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
71: Valuation elections, and limitations on elections, for specified livestock
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
72: Valuation of bloodstock
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
73: Bloodstock used as a racehorse
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
74: Payments received for non-compliance with covenant to repair
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
75: Sums received from sale of patent rights
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
76: Payment for non-compliance with covenant to repair
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
77: Timing of deduction for payment made when restrictive covenant breached
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
78: Depreciation deduction for assets acquired by taxpayer from an associated person before a certain date
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
79: Income derived from disposal of trading stock together with other assets of a business
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
80: Section FB 6 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
81: Floating rate of interest on debentures
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
82: Share dealing
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
83: Revised assessments where assets purchased and resold after deduction of payments under lease
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
84: Effect of specified lease on lessor and lessee
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
85: Income of lessor under specified lease
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
86: Purchase and sale of lease asset by lessee or associated person
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
87: Part year accounts and part year net income allocation
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
88: Special provisions relating to dispositions of property
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
89: Land
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
90: Leased assets
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
91: Depreciable property
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
92: Mining assets
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
93: Apportionment of interest deductions
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
94: Treatment of specified leases and interest expense
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
95: Mode of elections
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
96: Rule for calculating group excess interest allocation amount
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
97: Deduction for dividends paid on certain preference shares
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
98: Attribution rule for personal services
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
99: Attribution rule--calculation
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
100: Imputation—arrangement to obtain a tax advantage
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
101: Sale of trading stock for inadequate consideration
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
102: Distribution of trading stock to shareholders of company
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
103: Leases for inadequate rent
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
104: Cross-border arrangements between associated persons
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
105: New
section GZ 2 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
106: Returns, assessments and liability of consolidated group
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
107: Taxable income to be calculated generally as if group were single company
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
108: Special partnerships
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
109: Group investment funds
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
110: Profits of mutual associations in respect of transactions with members
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
111: Liability of electing shareholder for income tax of company
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
112: Taxation of shareholders in qualifying companies
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
113: Interpretation
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
114: Trustee income
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
115: Tax in respect of Maori Authorities with more than 20 beneficiaries
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
116: Section HK 1 replaced
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
117: Rate and amount of tax payable by agent
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
118: Liability of principal not affected
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
119: Agents to be personally liable for payment of tax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
120: Guardian of person under disability to be agent
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
121: Liability of mortgagee in possession
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
122: Company deemed agent of debenture holders
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
123: Modification of agency provisions in respect of gross income from company
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
124: Liability of agent of absentee principal for returns and tax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
125: Partner of absentee deemed agent
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
126: Master of ship deemed agent of absentee owner
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
127: Tenant, mortgagor or other debtor to be agent of absentee landlord, mortgagee or other creditor
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
128: Person having disposal of income deemed agent
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
129: Liability as agent of employer of non-resident taxpayer and employer's agent
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
130: Non-resident trader to be agent of employees in New Zealand
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
131: Agents in New Zealand of principals resident abroad
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
132: Net losses may be offset against future net income
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
133: Net losses may be used to pay penalties
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
134: Losses of mining companies and petroleum miners
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
135: Proportionate adjustment to rebates on change of return date
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
136: Low income rebate
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
137: Rebate in certain cases for children
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
138: Transitional tax allowance
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
139: Rebate in certain cases for housekeeper
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
140: Rebate for gifts of money
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
141: New section KD A1 inserted
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
142: Rules for Part KD credit
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
143: Rules for family tax credit
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
144: Allowance of credit of tax in end of year assessment
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
145: Rebate for interest on home vendor mortgages
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
146: Rebate for savings in special farm, fishing vessel and home ownership accounts
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
147: Credit of tax for imputation credit
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
148: Credits in respect of tax paid in a country or territory outside New Zealand
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
149: Recovery of excess credit allowed through not taking into account refund of foreign tax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
150: Foreign tax credits--controlled foreign companies
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
151: Dividend paid without deduction in full of foreign tax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
152: United Kingdom tax on dividends
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
153: Foreign tax credits of consolidated group members
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
154: Tax deductions to be credited against tax assessed
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
155: Resident withholding tax deductions to be credited against income tax assessed
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
156: Credit of tax for dividend withholding payment credit in hands of shareholder
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
157: Interest paid in conduit financing arrangements
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
158: Amount of provisional tax payable
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
159: Election to be a provisional taxpayer
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
160: Terminal tax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
161: Refund of excess tax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
162: Credits arising to imputation credit account
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
163: Debits arising to imputation credit account
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
164: Further tax payable where end of year debit balance or when company ceases to be imputation credit account company
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
165: Determinations by Commissioner as to credits and debits arising to policyholder credit account
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
166: Determinations by Commissioner as to credits and debits arising to imputation credit account
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
167: Use of credit to reduce dividend withholding payment, or use of debit to satisfy income tax liability
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
168: Determinations by Commissioner as to credits and debits arising to branch equivalent tax account
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
169: Use of consolidated group credit to reduce dividend withholding payment or use of group or individual debit to reduce income tax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
170: Determinations by Commissioner as to credits and debits arising to dividend withholding payment credit account
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
171: Correction by Commissioner of credits and debits
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
172: New
sections MZ 5 and MZ 6 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
173: New section MZ 7 inserted
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
174: Payment of tax deductions to Commissioner
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
175: Assessment and payment of tax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
176: Payment of fringe benefit tax--final quarter of income year
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
177: Payment of deductions of resident withholding tax to Commissioner
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
178: Certificates of exemption
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
179: Payment of deductions of non-resident withholding tax to Commissioner
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
180: Payment and recovery of dividend withholding payment etc
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
181: Dividend withholding payments and consolidated groups
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
182: Definitions
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
183: Modifications to measurement of voting and market value interests in case of continuity provisions
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
184: Further definitions of associated persons
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
185: Commission agency contracts performed out of New Zealand
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
186: References to particular regimes in former Act, etc
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
187: Consequential changes to sections resulting from taxpayer assessment
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
2: Amendments to Tax Administration Act 1994
188: Tax Administration Act 1994
This Part amends the Tax Administration Act 1994
189: Interpretation
1: This section amends section 3(1)
2: The following definitions are repealed: assessment determination determination of net loss determination of net loss carried forward foreign tax New Zealand tax
3: In paragraph (a) deferrable tax by the Commissioner on a due date
4: In paragraph (b) notice of proposed adjustment section 89D either section 89D or section 89DA
5: In the definition of period of deferral
a: in paragraph (a) or the Commissioner the taxpayer
b: in paragraph (b) specified in the notice of assessment
6: After paragraph (b) response period
ba: the date fixed by the taxpayer on their notice of assessment, if the taxpayer fixes a date allowed by section 92
7: In the definition of taxpayer's tax position
a: in paragraph (a) subparagraph (i) Unless paragraph (b)
b: paragraph (b)
8: Subsections (3) to (6) (7)(a)
9: Subsections (2) (7)(b)
190: Taxpayer's tax obligations
1: In section 15B paragraph (a)
aa: if required under a tax law, make an assessment:.
2: Subsection (1)
191: New section 32D inserted
1: After section 32C
32D: Disclosure requirements for purpose of continuity provisions and qualifying unit trusts
1: Upon the request of a trustee of a qualifying unit trust, a unit holder of the qualifying unit trust must provide the trustee with a written statement of persons associated with the unit holder.
2: A request must be made in writing.
3: A unit holder who receives a request must provide the statement no later than 20 working days after the date on which the request is made.
4: The trustee is entitled to rely on the statement as being correct, and the statement is treated as being correct, unless the trustee has reasonable grounds for believing that the statement provided is not correct.
2: Subsection (1)
192: Section 33 replaced
1: Section 33
33: Annual returns of income by taxpayers
1: In an income year, a taxpayer, other than a taxpayer to whom section 33A
2: A return must contain a notice of the assessment required to be made under section 92
2: Subsection (1)
193: Annual income tax returns not required
1: In section 33A(2)(n) to determine their income tax liability
2: In the section heading to section 33A income tax returns returns of income
3: Subsections (1) (2)
194: Consequential adjustments on change in return date
1: Section 39(3)
3: If a return of income has been made to a date other than 31 March in an income year, the assessment in relation to the return is to be treated as made to that date and not to the 31 March nearest to that date.
2: In section 39(4) or additional assessments
3: Subsections (1) (2)
195: Returns by person claiming housekeeper or charitable rebates
1: Section 41A(6)
2: Section 41A(6AA)
6AA: The Commissioner may, in special circumstances, accept an application for a refund before the end of the income year to which the application relates.
3: In section 41A(8) assessable and
4: Subsection (1)
5: Subsection (2)
6: Subsection (3)
196: Section 43 replaced
1: Section 43
43: Income tax returns and assessments by executors or administrators
1: The executor or administrator of a deceased taxpayer must furnish the same returns of income and make the same assessments that the taxpayer was required to furnish or make, or would have been required to furnish or make, if the taxpayer had remained alive.
2: The Commissioner may from time to time require the executor or administrator to furnish such further returns of income for the deceased taxpayer as the Commissioner considers necessary.
3: Income tax assessed in respect of a deceased taxpayer, whether or not under subsection (1)
4: Part IIIA and section 33A(1)
2: Subsection (1)
197: Commissioner may in certain cases demand special returns and make special assessments
1: In section 44(5) any such assessment of taxable income is made an assessment is made under this section
2: In section 44(6) in respect of the taxable income of the person during for
3: Subsections (1) (2)
198: Special returns for financial arrangements
1: Section 44B(2)
2: Despite the time bar, the Commissioner must make assessments in respect of the person for the income years to which the adjustment relates according to the calculations of income and expenditure under the adjustment.
2: Subsection (1)
199: Income statement deemed return
1: In section 80G(2) to be signed to contain a notice of assessment signed
2: Subsection (1)
200: Income statement deemed general assessment
1: Section 80H(1)
1: A person is treated as having made an assessment under section 92 section 80G(2)
2: In section 80H(3) 80H(5) 80H(6) a general assessment an assessment
3: In section 80H(4) A general assessment An assessment
4: In section 80H Income statement deemed assessment
5: Subsections (1) to (4)
201: Deemed matters
1: Section 80I(2)(c)
c: an assessment is deemed to have been made—.
2: Subsection (1)
202: Notices of proposed adjustment required to be issued by Commissioner
1: In section 89C paragraph (a) may issue a taxpayer with an assessment of tax makes an assessment
2: In section 89C(g) 89C(i) issued made
3: In section 89C(k)
a: issues issued issue makes made make
b: assessment to assessment for
4: In section 89C(l) IIIA. IIIA; or
m: the assessment includes a calculation by the Commissioner of a rebate of income tax under Part KD of the Income Tax Act 1994
5: Subsections (1) to (4)
203: Taxpayers and others with standing may issue notices of proposed adjustment
1: Section 89D(2)
2: A taxpayer who has not furnished a return of income for an assessment period may dispute the assessment made by the Commissioner only by furnishing a return of income for the assessment period.
2A: For the purpose of subsection (2), section 33(2)
2B: A taxpayer to whom section 80F section 80H
2: Subsection (1)
204: New section 89DA inserted
1: After section 89D
89DA: Taxpayer may issue notice of proposed adjustment for taxpayer assessment
1: A taxpayer may issue a notice of proposed adjustment in respect of an assessment made by the taxpayer for an income year if the Commissioner has not previously issued a notice of proposed adjustment to the taxpayer in respect of the assessment.
2: For a notice of proposed adjustment to have effect, a taxpayer must issue the notice of proposed adjustment within the applicable response period.
2: Subsection (1)
205: Determinations in relation to financial arrangements
1: Section 90(9)
9: If a person has applied a determination under subsection (1)
10: Subsection (9)
a: since the date of the determination, the legislation on which the determination was based has been repealed or amended to the detriment of the person relying on the determination; or
b: there was a material misrepresentation or omission in the application for the determination, whether intentional or not.
2: Subsection (1)
206: Notification of determinations
1: Section 90AD(3)
3: If a person has applied a determination under section 90AC
4: Subsection (3)
a: since the date of the determination, the legislation on which the determination was based has been repealed or amended to the detriment of the person relying on the determination; or
b: there was a material misrepresentation or omission in the application for the determination, whether intentional or not.
2: Subsection (1)
207: Determinations in relation to apportionment of interest costs
1: Section 90A(9)
9: If a person has applied a determination under subsection (1)
10: Subsection (9)
a: since the date of the determination, the legislation on which the determination was based has been repealed or amended to the detriment of the person relying on the determination; or
b: there was a material misrepresentation or omission in the application for the determination, whether intentional or not.
2: Subsection (1)
208: Section 92 replaced
1: Section 92
92: Taxpayer assessment
1: A taxpayer who is required to furnish a return of income for an income year must make an assessment of the taxpayer's taxable income and income tax liability and, if applicable for the income year, the net loss, terminal tax or refund due.
2: A taxpayer who must make an assessment may fix a date on their notice of assessment that occurs during the time period set by the Commissioner.
3: For the purpose of subsection (2)
4: A non-filing taxpayer is treated as having made an assessment for an income year on the terminal tax date for the income year.
5: This section does not apply to a taxpayer—
a: in respect of whom a rebate of income tax allowed under Part KD of the Income Tax Act 1994
b: for the income year to which the rebate relates.
6: This section does not apply to a taxpayer—
a: in respect of whom the Commissioner has made an assessment; and
b: for the income year to which the assessment relates.
2: Subsection (1)
209: New section 92AA inserted
1: After section 92
92AA: Commissioner assessment for taxpayers allowed rebates under
Part KD of Income Tax Act 1994 The Commissioner must make an income tax assessment for an income year in respect of a taxpayer who is allowed a rebate of income tax under Part KD of the Income Tax Act 1994
2: Subsection (1)
210: Basic rates of income tax
1: In section 92A(1) in any year of assessment for an income year
2: In section 92A(2) year of assessment income year
3: Subsections (1) (2)
211: Assessments and determinations made by electronic means
1: In section 105 by the Commissioner An assessment or determination made
2: Subsection (1)
212: Reassessment for income tax where return date between 31 March and 1 October
1: In section 107 year of assessment income year
2: In section 107(b) altering amending
3: In section 107 Reassessment Amended assessment
4: Subsections (1) to (3)
213: Time bar for amendment of assessment of taxable income, income tax liability and tax payable under
Income Tax Act 1994
1: Section 108(1)(a)
a: a taxpayer furnishes an income tax return and an assessment has been made; and.
2: After section 108(1A)
1B: The Commissioner must not amend a non-filing taxpayer's assessment if 4 years have passed from the end of the income year in which the terminal tax date for the assessment falls.
3: In section 108 Time bar for amendment of income tax assessment
4: Subsections (1) to (3)
214: Commissioner to give notice of assessment to taxpayer
1: In section 111(1) an assessment is made making an assessment
2: Section 111(2) to (5)
3: Section 111(6)
6: Omitting to give a notice under this section does not invalidate the assessment or in any manner affect the operation of the assessment.
4: In section 111(7) an assessment a notice of assessment
5: Subsections (1) (3) (4)
6: Subsection (2)
215: Commissioner to make determination of life insurer's policyholder's loss
1: Section 112
2: Subsection (1)
216: Validity of assessments not affected by failure to comply with Inland Revenue Acts
1: In section 114 made by the Commissioner assessment
2: Subsection (1)
217: Determination of claims for foreign tax credits
1: Section 115
2: Subsection (1)
218: Notice of foreign tax credit determination to taxpayer
1: Section 116
2: Subsection (1)
219: Evidence of foreign tax credit determination
1: Section 118
2: Subsection (1)
220: Definitions
1: After section 120C(2)
3: In the definition of tax paid paragraph (a) section MZ 5 or section MZ 6 of the Income Tax Act 1994
2: Subsection (1)
221: Liability to pay interest
1: Section 120D(4)
4: Interest overpaid by the Commissioner may be recovered in the same manner as income tax that is payable under the Income Tax Act 1994
2: Subsection (1)
222: Interest on tax overpaid
1: This section amends section 122 Tax Administration Act 1994 section 36 Taxation Administration Amendment Act (No 2) 1996
2: In section 122(10) specified rate of interest tax paid section MZ 5 of the Income Tax Act 1994
3: Subsection (2)
223: Objections to determinations
1: Section 131
2: Subsection (1)
224: Application of this Part to objections to foreign tax credit determinations
1: Section 132
2: Subsection (1)
225: Certain rights of challenge not conferred
1: Section 138E(1)(e)(iv)
iv: any of sections 21 to 23, 36 to 46, 58, 62, 63, 80, 88, 89C, 89K, 89M, 92, 106, 107, 108A, 108B, 109, 110, 111, 113, 114, 120A to 120U, 128A, 138N, 142A, 142C, 146, 150A, 157, 160, 166, 167, 174AA, 176, 177, 183A, 183B, 183D and 183F of this Act.
2: In section 138E(1)(e)(iv) subsection (1) 183B,
3: Subsection (1)
4: Subsection (2)
226: Obligation to pay tax during challenge
1: In section 138I(1) specified in the notice of assessment
2: Subsection (1)
227: Tax shortfalls
1: Section 141(11)
2: Subsection (1)
228: New due date for payment of tax that is not a penalty
1: Section 142A(1)
1: If an assessment of tax is increased after the due date for the payment of the tax, the Commissioner must, in the notice of assessment that includes the increase, fix a new date for the payment of the tax or increased tax.
2: In section 142A(2) reassessment assessment
3: In section 142A(4) or reassessment
4: Subsections (1) to (3)
229: Deduction of tax from payments due to defaulters
1: In section 157(4) year of assessment income year
2: Subsection (1)
230: Recovery of refund due to excess tax credits allowed
1: Section 165A
2: Subsection (1)
231: Tax paid in excess may be set off against additional tax when assessment reopened
1: In section 166(1)(a)
a: any year of assessment an income year
b: alters amends
2: In section 166(1)(b) any year or years of assessment an income year
3: Subsections (1) (2)
232: Power of Commissioner in respect of small amounts of refunds or tax payable
1: In section 174AA issuing a notice of assessment making an assessment
2: Subsection (1)
233: Relief in cases of serious hardship
1: In section 176(1) alterations in amendments to
2: Subsection (1)
234: Discretion to grant relief in cases of financial hardship
1: In section 177(4) issue an amended amend an
2: Subsection (1)
235: Obligation to pay tax on foreign investment fund income able to be suspended
1: In section 183(2) Sections 120T and 142 Part VII
2: Section 183(2)(b)(i)(A)
A: the date of the first notice of assessment with respect to that tax; or.
3: Subsections (1) (2)
236: Consequential changes to sections resulting from taxpayer assessment
1: Wherever it occurs, alter amend 107A 108 108A 127(1) 130(4) 138P(3). 138P(4).
2: Wherever it occurs, altered amended 107 136(17)(a) 176(1)
3: Wherever it occurs, alteration amendment 135(3)(a) 136(19)(a) 138P(5).
4: Subsections (1) to (3)
3: Amendments to other Inland Revenue Acts
Amendments to Goods and Services Tax Act 1985
237: Goods and Services Tax Act 1985
Sections 238 239 240 241 Goods and Services Tax Act 1985
238: Meaning of term supply
1: In section 5(11G)
a: in the portion before paragraph (a) if
b: in paragraph (a) if it
c: in paragraph (b) if the supplier of the goods and services
2: Subsection (1)
239: Value of supply of goods and services
1: This section amends section 10 Goods and Services Tax Act 1985 section 79 Taxation (Remedial Matters) Act 1999
2: After section 10(16)
16A: Subsection (16) section 11(2A)
3: After section 10(17)
17A: Subsection (17) section 11(2A)
4: Subsections (2) (3) Subsection (1) amended 111 Taxation (Relief, Refunds and Miscellaneous Provisions) Act 2002 by omitting the words before its replacement by section 90 of the Taxation (GST and Miscellaneous Provisions) Act 2000 and
240: Zero-rating of goods
1: After section 11(1)(k)
ka: the goods are supplied for use on, or the use of, a pleasure craft, being a temporary import within the meaning of section 116 of the Customs and Excise Act 1996
2: Section 11(1)(l)
l: the goods are supplied as consumable stores for use outside New Zealand on—
i: an aircraft going to a destination outside New Zealand; or
ii: a fishing ship going outside New Zealand fisheries waters; or
iii: a foreign-going ship; or
iv: a pleasure craft that is a temporary import within the meaning of section 116 of the Customs and Excise Act 1996
3: In section 11(9) aircraft consumable stores
a: goods that passengers and crew on board an aircraft or a ship intend to consume; and
b: goods necessary to operate or maintain an aircraft or a ship, including fuel and lubricants but excluding spare parts and equipment.
4: In section 11(9) foreign-going ship as those terms are defined in section 2 of the Maritime Transport Act 1994
5: In section 11(9) New Zealand fisheries waters pleasure craft section 2 of the Maritime Transport Act 1994
6: In section 11(9) sealed bag system ship section 2 of the Maritime Transport Act 1994
7: Subsections (1) to (6)
241: Zero-rating
1: This section amends section 11 Goods and Services Tax Act 1985 section 90 Taxation (GST and Miscellaneous Provisions) Act 2000 section 80 Taxation (Remedial Matters) Act 1999
2: After section 11(2)(ca)
d: the services are physically performed outside New Zealand or are the arranging of services that are physically performed outside New Zealand; or.
3: After section 11(2)
2A: Subsection (2)(e) person A
a: the performance of the services is, or it is reasonably foreseeable at the time the agreement is entered into that the performance of the services will be, received in New Zealand by another person, person B
i: an employee of person A; or
ii: if person A is a company, a director of the company; and
b: it is reasonably foreseeable, at the time the agreement is entered into, that person B will not receive the performance of the services in the course of making taxable or exempt supplies.
4: Subsection (3)
5: Subsection (2) subsection (3)
6: Subsection (4)
a: paid a refund in respect of the supply; or
b: set off against unpaid tax, an amount otherwise refundable in respect of the supply; or
c: reduced the amount that would otherwise be the tax payable for a taxable period in respect of the supply. Amendments to Estate and Gift Duties Act 1968
242: Estate and Gift Duties Act 1968
Sections 243 to 246 Estate and Gift Duties Act 1968
243: Exemption for gifts of financial arrangements under accrual rules in
Income Tax Act 1994 (Part EH, Division 2)
1: Section 75BA
2: Subsection (1)
3: Despite subsection (2) (1)
244: Exemption for gifts of financial arrangements under accrual rules in
Income Tax Act 1994 (Part EH, Division 1)
1: Section 75BB
2: Subsection (1) implementation date section EZ 45 Income Tax Act 2004
3: Despite subsection (2) (1) Subsection (2) amended 1 April 2005 YA 2 Income Tax Act 2004 by substituting the words section EZ 45 of the Income Tax Act 2004 section EH 14 of the Income Tax Act 1994
245: Exemption for gifts of financial arrangements under accrual rules in
Income Tax Act 1976
1: Section 75BC
2: Subsection (1) implementation date section 64B of the Income Tax Act 1976
246: Application of Parts 4A and 8A of Tax Administration Act 1994
1: In section 90A reassessment amended assessment
2: Subsection (1) Amendments to Income Tax Act 1976
247: Income Tax Act 1976 Sections 248 249 250 to 253 Income Tax Act 1976
248: Allocation rules for imputation credits
1: After section 394G(5)
6: This section does not apply to a dividend described in section 394GA
2: Subsection (1)
249: New
section 394ZGA
1: After section 394ZG
394ZGA: Imputation—no arrangement to obtain tax advantage
Despite section 394ZG section 63(2H)
2: Subsection (1)
250: Refund of excess tax
1: After section 409(1)
1A: The Commissioner must not pay a refund under subsection (1) section 409A
2: Subsection (1)
251: New
section 409A
1: After section 409
409A: Application of excess tax to nil period
1: To the extent that tax paid in excess by or on behalf of a taxpayer is refundable and, before it is applied under this section, has not been applied to satisfy a tax liability or other amount due, the Commissioner must apply all or part of the excess to a nil period if—
a: before 21 April 2001—
i: the taxpayer or their agent requested, in writing, that the Commissioner apply all or part of the excess to the nil period; or
ii: the Commissioner, by notice, declined the taxpayer's or their agent's request to apply all or part of the excess to the nil period; or
iii: the Commissioner provided the taxpayer to whom the tax was applied with a notice or a statement of account that reflected the application of all or part of the excess to the nil period, irrespective of whether the application of the excess is subsequently reversed; and
b: on or after the date that Taxation (Taxpayer Assessment and Miscellaneous Provisions) Act 2001 receives the Royal assent, the taxpayer identifies themselves, or the taxpayer's agent identifies the taxpayer, to the Commissioner as being a person to whom this section applies.
2: To the extent that tax paid in excess by or on behalf of a taxpayer is refundable and, before it is applied under this section, has not been applied to satisfy a tax liability or other amount due, the Commissioner must apply all or part of the excess to a nil period if, on or after 21 February 2001—
a: an assessment is made of a previous year's tax liability that gives rise to the excess; and
b: the taxpayer or their agent requests that the Commissioner transfer the excess to the nil period.
3: The Commissioner must apply all or part of an excess to a date in a nil period that occurs after the date the excess tax is paid.
4: In this section— nil period tax Parts IX, IXA, XI, XII or XIIB
a: for withholding tax or provisional tax; and
b: in respect of a dividend withholding payment, if the taxpayer is entitled to a refund of that credit under Part XIIB
2: Subsection (1)
252: Interest on tax overpaid
1: In section 413A(1) specified rate of interest tax paid section 409A
2: Subsection (1)
253: Interest on tax overpaid
1: This section amends section 413A section 81 of the Income Tax Amendment Act (No 2) 1993
2: After section 413A(5)
5A: For the purpose of subsection (5) a section 409A
3: Subsection (2) Amendments to Student Loan Scheme Act 1992
254: Student Loan Scheme Act 1992
Sections 255 256 Student Loan Scheme Act 1992 the principal Act
255: Sections 21, 33, 34, 36 to 39, 41 to 44, 63, 79, 80, 92, 106 to 111, 113, and 114 of the Tax Administration Act 1994 and sections IB 1, IB 4, and KB 2 of the Income Tax Act 1994 (which relates to returns and assessments) to apply
1: Section 16 Sections of Tax Administration Act 1994 and Income Tax Act 1994 relating to returns and assessments to apply
2: Section 16
a: inserting, after the expression 92, 92A,
b: omitting the expression sections IB 1, IB 4, and KB 2 section KB 2 and paragraph (b) applicable basic tax rate section OB 1
3: Subsections (1) (2)
256: Interim repayments to be paid in same manner as provisional tax
1: Section 28(3)(a) tax assessment a taxpayer's income tax liability
2: Subsection (1) Amendments to Child Support Act 1991
257: Child Support Act 1991
Sections 258 to 263 Child Support Act 1991 the principal Act
258: Basic amount of child support payable
1: Section 29(1)
a: omitting from paragraph (a) taxable income the Commissioner has not assessed a liable parent's taxable income for an income year a liable parent's taxable income for an income year has not been assessed
b: omitting from paragraph (b) by the Commissioner
2: Subsection (1)
259: Meaning of term living allowance
1: Section 30(5) gross married rate of invalid's benefit gross single rate of invalid's benefit the fourth proviso to section NC 6(1) section NC 6(1D)
2: Subsection (1)
260: Nil assessment of taxable income
1: The principal Act is amended by repealing section 37
2: Subsection (1)
261: Application of assessments under Income Tax Act 1976
1: The heading to section 38 1976 or Tax Administration Act 1994
2: Section 38(3)(b) The amended assessment notice of the amended assessment
3: Section 38(6)(a) to the person
4: Subsections (1) to (3)
262: Commissioner may take overseas taxable income into account
1: The principal Act is amended by repealing section 39A(3)(c)
2: Subsection (1)
263: Reconciliation of estimated and actual taxable income after end of child support year
1: Section 44(1)
a: omitting the words the Commissioner makes
b: inserting, after the word applied) has been made
2: Subsection (1) Amendments to Gaming Duties Act 1971
264: Gaming Duties Act 1971
Sections 265 to 267 Gaming Duties Act 1971
265: Assessment of duty
1: In section 12G(4)(b) alter amend
2: Subsection (1)
266: Application of Parts 4A and 8A of Tax Administration Act 1994
1: In section 12HA reassessment amended assessment
2: Subsection (1)
267: Recovery of duty
1: In section 12R 12HA 12G, 12H, 12HA
2: Subsection (1) Amendments to Taxation (GST and Miscellaneous Provisions) Act 2000
268: Taxation (GST and Miscellaneous Provisions) Act 2000
1: This section amends the Taxation (GST and Miscellaneous Provisions) Act 2000
2: In sections 5(2) 24(2) 26(2) 27(2) 50(23) 1995–96 1997–98
3: In section 70(6) , (3) and (4) and (3)
4: In section 70(8) Subsection (5) Subsections (4) and (5)
5: Subsections (2) to (4) Amendments to Taxation (Beneficiary Income of Minors, Services-Related Payments and Remedial Matters) Act 2001
269: Taxation (Beneficiary Income of Minors, Services-Related Payments and Remedial Matters) Act 2001
1: This section amends the Taxation (Beneficiary Income of Minors, Services-Related Payments and Remedial Matters) Act 2001
2: In section 64(3) subsection (1) subsection (2)
3: In section 66(1)(c) paragraph (c) paragraph (b)
4: In section 72(4) on to payments of interest paid on and after
5: Subsections (2) to (4)