3 Income Tax Act 1994

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

4 New section BD 2A inserted

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

5 Non-profit bodies and charities exempt income

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

6 Exempt income--certain aircraft operators

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

7 Land transactions

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

8 Meaning of term dividends

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

9 Exclusions from term dividends

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

10 Calculation and attribution of controlled foreign company repatriation

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

11 Benefit from share option or purchase schemes

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

12 Interpretation

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

13 Value of fringe benefit

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

14 Application of other provisions to fringe benefit tax

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

15 Income from minerals, timber or flax

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

16 Primary producer co-operative companies

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

17 Calculation of actuarial reserves

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

18 Specified suspensory loans

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

19 Grant-related suspensory loans

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

20 Certain deductions not allowed--rents, interest and premises

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

21 Section DF 2 replaced

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

22 Contributions to employees' superannuation schemes

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

23 Pensions payable to former employees

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

24 Retiring allowances payable to employees

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

25 Payments to employees or former employees while on naval, military or air service

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

26 Limitation on deduction for expenditure on specified types of entertainment

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

27 Use of actual records to establish business use proportion of motor vehicle

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

28 Allowable deductions of building societies

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

29 Deduction to Maori authorities for donations to Maori associations

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

30 Expenditure incurred by superannuation funds

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

31 Expenditure by group investment fund

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

32 New sections DI 3B and DI 3C inserted

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

33 Certain deductions not allowed--bad debts, share losses and indemnities

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

34 Deduction from estate income of irrecoverable book debts

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

35 Chatham Island dues

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

36 Patent expenses

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

37 Misappropriation by partner of property entrusted to partnership

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

38 Misappropriation by employees and other persons for the purposes of business of taxpayer

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

39 Expenditure on scientific research

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

40 New sections DJ 9A and DJ 9B inserted

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

41 Expenditure to prevent or combat pollution of environment

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

42 Expenditure incurred in borrowing money or obtaining lease

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

43 Expenditure on acquiring land

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

44 Cost of timber

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

45 Forestry business carried on by company on land acquired partly from Crown, partly from Maori owners and partly from holding company

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

46 Expenditure in respect of forestry encouragement agreements under Forestry Encouragement Act 1962

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

47 Treatment of petroleum mining exploration and development expenditure

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

48 Companies engaged in exploring for, searching for, or mining certain minerals

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

49 Amounts from sale of mining shares by companies

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

50 Companies holding shares in mining companies

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

51 Expenditure on land improvements used for farming or agriculture

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

52 Farmers' expenditure on tree planting

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

53 Capitalisation of mortgage interest

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

54 Section EC 1 replaced

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

55 Treatment of interest under Part 7 of Tax Administration Act 1994

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

56 Reassessments

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

57 Depreciation of depreciable property that can no longer be used

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

58 Additional depreciation in respect of certain new assets acquired or improvements made between 16 December 1991 and 1 April 1994

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

59 Supplementary depreciation allowance for plant and machinery used in 2 and 3 shift industries

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

60 Disposition of depreciable property

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

61 Post facto adjustment

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

62 Relationship with rest of Act

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

63 Relationship with rest of Act

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

64 Rules for non-market transactions

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

65 Relationship with rest of Act

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

66 Sale for no consideration or for consideration less than market price

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

67 Adjustment in certain circumstances

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

68 Deposits to be allowed as deduction

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

69 General provisions as to refunds

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

70 Deposits to be allowed as deduction

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

71 Valuation elections, and limitations on elections, for specified livestock

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

72 Valuation of bloodstock

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

73 Bloodstock used as a racehorse

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

74 Payments received for non-compliance with covenant to repair

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

75 Sums received from sale of patent rights

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

76 Payment for non-compliance with covenant to repair

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

77 Timing of deduction for payment made when restrictive covenant breached

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

78 Depreciation deduction for assets acquired by taxpayer from an associated person before a certain date

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

79 Income derived from disposal of trading stock together with other assets of a business

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

80 Section FB 6 replaced

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

81 Floating rate of interest on debentures

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

82 Share dealing

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

83 Revised assessments where assets purchased and resold after deduction of payments under lease

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

84 Effect of specified lease on lessor and lessee

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

85 Income of lessor under specified lease

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

86 Purchase and sale of lease asset by lessee or associated person

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

87 Part year accounts and part year net income allocation

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

88 Special provisions relating to dispositions of property

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

89 Land

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

90 Leased assets

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

91 Depreciable property

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

92 Mining assets

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

93 Apportionment of interest deductions

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

94 Treatment of specified leases and interest expense

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

95 Mode of elections

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

96 Rule for calculating group excess interest allocation amount

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

97 Deduction for dividends paid on certain preference shares

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

98 Attribution rule for personal services

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

99 Attribution rule--calculation

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

100 Imputation—arrangement to obtain a tax advantage

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

101 Sale of trading stock for inadequate consideration

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

102 Distribution of trading stock to shareholders of company

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

103 Leases for inadequate rent

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

104 Cross-border arrangements between associated persons

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

105 New section GZ 2 inserted

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

106 Returns, assessments and liability of consolidated group

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

107 Taxable income to be calculated generally as if group were single company

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

108 Special partnerships

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

109 Group investment funds

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

110 Profits of mutual associations in respect of transactions with members

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

111 Liability of electing shareholder for income tax of company

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

112 Taxation of shareholders in qualifying companies

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

113 Interpretation

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

114 Trustee income

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

115 Tax in respect of Maori Authorities with more than 20 beneficiaries

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

116 Section HK 1 replaced

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

117 Rate and amount of tax payable by agent

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

118 Liability of principal not affected

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

119 Agents to be personally liable for payment of tax

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

120 Guardian of person under disability to be agent

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

121 Liability of mortgagee in possession

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

122 Company deemed agent of debenture holders

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

123 Modification of agency provisions in respect of gross income from company

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

124 Liability of agent of absentee principal for returns and tax

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

125 Partner of absentee deemed agent

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

126 Master of ship deemed agent of absentee owner

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

127 Tenant, mortgagor or other debtor to be agent of absentee landlord, mortgagee or other creditor

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

128 Person having disposal of income deemed agent

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

129 Liability as agent of employer of non-resident taxpayer and employer's agent

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

130 Non-resident trader to be agent of employees in New Zealand

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

131 Agents in New Zealand of principals resident abroad

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

132 Net losses may be offset against future net income

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

133 Net losses may be used to pay penalties

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

134 Losses of mining companies and petroleum miners

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

135 Proportionate adjustment to rebates on change of return date

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

136 Low income rebate

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

137 Rebate in certain cases for children

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

138 Transitional tax allowance

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

139 Rebate in certain cases for housekeeper

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

140 Rebate for gifts of money

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

141 New section KD A1 inserted

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

142 Rules for Part KD credit

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

143 Rules for family tax credit

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

144 Allowance of credit of tax in end of year assessment

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

145 Rebate for interest on home vendor mortgages

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

146 Rebate for savings in special farm, fishing vessel and home ownership accounts

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

147 Credit of tax for imputation credit

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

148 Credits in respect of tax paid in a country or territory outside New Zealand

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

149 Recovery of excess credit allowed through not taking into account refund of foreign tax

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

150 Foreign tax credits--controlled foreign companies

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

151 Dividend paid without deduction in full of foreign tax

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

152 United Kingdom tax on dividends

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

153 Foreign tax credits of consolidated group members

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

154 Tax deductions to be credited against tax assessed

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

155 Resident withholding tax deductions to be credited against income tax assessed

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

156 Credit of tax for dividend withholding payment credit in hands of shareholder

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

157 Interest paid in conduit financing arrangements

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

158 Amount of provisional tax payable

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

159 Election to be a provisional taxpayer

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

160 Terminal tax

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

161 Refund of excess tax

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

162 Credits arising to imputation credit account

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

163 Debits arising to imputation credit account

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

164 Further tax payable where end of year debit balance or when company ceases to be imputation credit account company

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

165 Determinations by Commissioner as to credits and debits arising to policyholder credit account

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

166 Determinations by Commissioner as to credits and debits arising to imputation credit account

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

167 Use of credit to reduce dividend withholding payment, or use of debit to satisfy income tax liability

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

168 Determinations by Commissioner as to credits and debits arising to branch equivalent tax account

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

169 Use of consolidated group credit to reduce dividend withholding payment or use of group or individual debit to reduce income tax

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

170 Determinations by Commissioner as to credits and debits arising to dividend withholding payment credit account

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

171 Correction by Commissioner of credits and debits

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

172 New sections MZ 5 and MZ 6 inserted

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

173 New section MZ 7 inserted

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

174 Payment of tax deductions to Commissioner

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

175 Assessment and payment of tax

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

176 Payment of fringe benefit tax--final quarter of income year

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

177 Payment of deductions of resident withholding tax to Commissioner

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

178 Certificates of exemption

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

179 Payment of deductions of non-resident withholding tax to Commissioner

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

180 Payment and recovery of dividend withholding payment etc

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

181 Dividend withholding payments and consolidated groups

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

182 Definitions

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

183 Modifications to measurement of voting and market value interests in case of continuity provisions

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

184 Further definitions of associated persons

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

185 Commission agency contracts performed out of New Zealand

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

186 References to particular regimes in former Act, etc

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

187 Consequential changes to sections resulting from taxpayer assessment

• [Repealed]

  Part 1 (comprising sections 3 to 187) was repealed, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35).

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) of the definition of deferrable tax, “by the Commissioner” and “on a due date” are omitted.

  (4) In paragraph (b) of the definition of notice of proposed adjustment, “section 89D” is replaced by “either section 89D or section 89DA”.

  (5) In the definition of period of deferral—

  • (a) in paragraph (a), “or the Commissioner” is inserted after “the taxpayer”:

  • (b) in paragraph (b), “specified in the notice of assessment” is omitted.

  (6) After paragraph (b) of the definition of response period, the following is inserted:

  • “(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), in the portion before subparagraph (i), “Unless paragraph (b) applies,” is omitted:

  • (b) paragraph (b) is repealed.

  (8) Subsections (3) to (6) and (7)(a) apply to the 2002-03 and subsequent income years.

  (9) Subsections (2) and (7)(b) apply on the first day of the 2002-03 income year.

190 Taxpayer's tax obligations

• (1) In section 15B, the following is inserted before paragraph (a):

  • “(aa) if required under a tax law, make an assessment:.”

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

191 New section 32D inserted

• (1) After section 32C, the following is inserted:

  “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) applies to the 2001-02 and subsequent income years.

192 Section 33 replaced

• (1) Section 33 is replaced by:

  “33 Annual returns of income by taxpayers

  • “(1) In an income year, a taxpayer, other than a taxpayer to whom section 33A applies, must furnish to the Commissioner a return of income in the prescribed form for the preceding income year, together with such other particulars as may be prescribed.

    “(2) A return must contain a notice of the assessment required to be made under section 92.”

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

193 Annual income tax returns not required

• (1) In section 33A(2)(n), “to determine their income tax liability” is omitted.

  (2) In the section heading to section 33A, “income tax returns” is replaced by “returns of income”.

  (3) Subsections (1) and (2) apply to the 2002-03 and subsequent income years.

194 Consequential adjustments on change in return date

• (1) Section 39(3) is replaced by:

  • “(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” is omitted.

  (3) Subsections (1) and (2) apply to the 2002-03 and subsequent income years.

195 Returns by person claiming housekeeper or charitable rebates

• (1) Section 41A(6) is repealed.

  (2) Section 41A(6AA) is replaced by:

  • “(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” is omitted.

  (4) Subsection (1) applies on the first day of the 2001-02 income year.

  (5) Subsection (2) applies to rebate applications made in the 2001-02 and subsequent income years.

  (6) Subsection (3) applies to the 2002-03 and subsequent income years.

196 Section 43 replaced

• (1) Section 43 is replaced by:

  “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), is to be treated as a liability incurred by the deceased taxpayer during their lifetime, and the executor or administrator of the taxpayer is liable for the same accordingly.

    “(4) Part IIIA and section 33A(1) do not apply to a natural person acting in the capacity of an executor or administrator of a deceased taxpayer.”

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

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” is replaced by “an assessment is made under this section”.

  (2) In section 44(6), “in respect of the taxable income of the person during” is replaced by “for”.

  (3) Subsections (1) and (2) apply to the 2002-03 and subsequent income years.

198 Special returns for financial arrangements

• (1) Section 44B(2) is replaced by:

  • “(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) applies to the 2002-03 and subsequent income years.

199 Income statement deemed return

• (1) In section 80G(2), “to be signed” is replaced by “to contain a notice of assessment signed”.

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

200 Income statement deemed general assessment

• (1) Section 80H(1) is replaced by:

  • “(1) A person is treated as having made an assessment under section 92 in respect of an income statement that is deemed to be a return of income under section 80G(2).”

  (2) In section 80H(3), 80H(5) and 80H(6), “a general assessment” is replaced by “an assessment”.

  (3) In section 80H(4), “A general assessment” is replaced by “An assessment”.

  (4) In section 80H, the section heading is replaced by:

  “Income statement deemed assessment”

  (5) Subsections (1) to (4) apply to the 2002-03 and subsequent income years.

201 Deemed matters

• (1) Section 80I(2)(c) is replaced by:

  • “(c) an assessment is deemed to have been made—.”

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

202 Notices of proposed adjustment required to be issued by Commissioner

• (1) In section 89C, in the words before paragraph (a), “may issue a taxpayer with an assessment of tax” is replaced by “makes an assessment”.

  (2) In section 89C(g) and 89C(i), “issued” is replaced by “made”.

  (3) In section 89C(k)—

  • (a) “issues”, “issued” and “issue” are replaced by “makes”, “made” and “make” respectively:

  • (b) “assessment to” is replaced by “assessment for”.

  (4) In section 89C(l), “IIIA.” is replaced by “IIIA; or” and the following is added:

  • “(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) apply to the 2002-03 and subsequent income years.

203 Taxpayers and others with standing may issue notices of proposed adjustment

• (1) Section 89D(2) is replaced by:

  • “(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) does not apply.

  • “(2B) A taxpayer to whom section 80F applies who has not furnished an amended income statement for an assessment period may dispute a deemed assessment under section 80H only by furnishing an amended income statement for the assessment period.”

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

204 New section 89DA inserted

• (1) After section 89D, the following is inserted:

  “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) applies to the 2002-03 and subsequent income years.

205 Determinations in relation to financial arrangements

• (1) Section 90(9) is replaced by:

  • “(9) If a person has applied a determination under subsection (1), an assessment made in respect of the person must be in accordance with the determination.

  • “(10) Subsection (9) does not apply if—

    • “(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) applies to the 2002-03 and subsequent income years.

206 Notification of determinations

• (1) Section 90AD(3) is replaced by:

  • “(3) If a person has applied a determination under section 90AC, an assessment made in respect of the person must be in accordance with the determination.

  • “(4) Subsection (3) does not apply if—

    • “(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) applies to the 2002-03 and subsequent income years.

207 Determinations in relation to apportionment of interest costs

• (1) Section 90A(9) is replaced by:

  • “(9) If a person has applied a determination under subsection (1), an assessment made in respect of the person must be in accordance with the determination.

  • “(10) Subsection (9) does not apply if—

    • “(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) applies to the 2002-03 and subsequent income years.

208 Section 92 replaced

• (1) Section 92 is replaced by:

  “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), the Commissioner may set a time period during which a taxpayer may fix a date on their notice of assessment by reference to the last date on which the taxpayer is required to furnish their return of income.

    “(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 is calculated by the Commissioner; and

    • “(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) applies to the 2002-03 and subsequent income years.

209 New section 92AA inserted

• (1) After section 92, the following is inserted:

  “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 for that year.”

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

210 Basic rates of income tax

• (1) In section 92A(1), “in any year of assessment” is replaced by “for an income year”.

  (2) In section 92A(2), “year of assessment” is replaced by “income year”.

  (3) Subsections (1) and (2) apply to the 2002-03 and subsequent income years.

211 Assessments and determinations made by electronic means

• (1) In section 105, “by the Commissioner” is inserted after “An assessment or determination made”.

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

212 Reassessment for income tax where return date between 31 March and 1 October

• (1) In section 107, “year of assessment” is replaced by “income year”.

  (2) In section 107(b), “altering” is replaced by “amending”.

  (3) In section 107, in the section heading, “Reassessment” is replaced by “Amended assessment”.

  (4) Subsections (1) to (3) apply to the 2002-03 and subsequent income years.

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) is replaced by:

  • “(a) a taxpayer furnishes an income tax return and an assessment has been made; and.”

  (2) After section 108(1A), the following is inserted:

  • “(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, the section heading is replaced by:

  “Time bar for amendment of income tax assessment.”

  (4) Subsections (1) to (3) apply to the 2002-03 and subsequent income years.

214 Commissioner to give notice of assessment to taxpayer

• (1) In section 111(1), “an assessment is made” is replaced by “making an assessment”.

  (2) Section 111(2) to (5) is repealed.

  (3) Section 111(6) is replaced by:

  • “(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” is replaced by “a notice of assessment”.

  (5) Subsections (1), (3) and (4) apply to the 2002-03 and subsequent income years.

  (6) Subsection (2) applies on the first day of the 2002-03 income year.

215 Commissioner to make determination of life insurer's policyholder's loss

• (1) Section 112 is repealed.

  (2) Subsection (1) applies on the first day of the 2002-03 income year.

216 Validity of assessments not affected by failure to comply with Inland Revenue Acts

• (1) In section 114, “made by the Commissioner” is inserted after “assessment”.

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

217 Determination of claims for foreign tax credits

• (1) Section 115 is repealed.

  (2) Subsection (1) applies on the first day of the 2002-03 income year.

218 Notice of foreign tax credit determination to taxpayer

• (1) Section 116 is repealed.

  (2) Subsection (1) applies on the first day of the 2002-03 income year.

219 Evidence of foreign tax credit determination

• (1) Section 118 is repealed.

  (2) Subsection (1) applies on the first day of the 2002-03 income year.

220 Definitions

• (1) After section 120C(2), the following is added:

  • “(3) In the definition of tax paid, paragraph (a) includes tax paid in excess that is applied under either section MZ 5 or section MZ 6 of the Income Tax Act 1994.”

  (2) Subsection (1) applies to the income years from 1997–98 to 2001-02 (both income years inclusive).

221 Liability to pay interest

• (1) Section 120D(4) is replaced by:

  • “(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) applies to the 2002-03 and subsequent income years.

222 Interest on tax overpaid

• (1) This section amends section 122 of the Tax Administration Act 1994 as it was before its repeal by section 36 of the Taxation Administration Amendment Act (No 2) 1996.

  (2) In section 122(10), after the definition of specified rate of interest, the following is added:

  “tax paid includes tax paid in excess that is applied under section MZ 5 of the Income Tax Act 1994.”

  (3) Subsection (2) applies to the 1995–96 and 1996–97 income years.

223 Objections to determinations

• (1) Section 131 is repealed.

  (2) Subsection (1) applies on the first day of the 2002-03 income year.

224 Application of this Part to objections to foreign tax credit determinations

• (1) Section 132 is repealed.

  (2) Subsection (1) applies on the first day of the 2002-03 income year.

225 Certain rights of challenge not conferred

• (1) Section 138E(1)(e)(iv) is replaced by:

  • “(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), as amended by subsection (1), “183B,” is omitted.

  (3) Subsection (1) applies to the 2002-03 and subsequent income years.

  (4) Subsection (2) applies on and after 1 April 2002.

226 Obligation to pay tax during challenge

• (1) In section 138I(1), “specified in the notice of assessment” is omitted.

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

227 Tax shortfalls

• (1) Section 141(11) is repealed.

  (2) Subsection (1) applies on the first day of the 2002-03 income year.

228 New due date for payment of tax that is not a penalty

• (1) Section 142A(1) is replaced by:

  • “(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” is replaced by “assessment”.

  (3) In section 142A(4), “or reassessment” is omitted.

  (4) Subsections (1) to (3) apply to the 2002-03 and subsequent income years.

229 Deduction of tax from payments due to defaulters

• (1) In section 157(4), “year of assessment” is replaced by “income year”.

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

230 Recovery of refund due to excess tax credits allowed

• (1) Section 165A is repealed.

  (2) Subsection (1) applies on the first day of the 2002-03 income year.

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” is replaced by “an income year”:

  • (b) “alters” is replaced by “amends”.

  (2) In section 166(1)(b), “any year or years of assessment” is replaced by “an income year”.

  (3) Subsections (1) and (2) apply to the 2002-03 and subsequent income years.

232 Power of Commissioner in respect of small amounts of refunds or tax payable

• (1) In section 174AA, “issuing a notice of assessment” is replaced by “making an assessment”.

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

233 Relief in cases of serious hardship

• (1) In section 176(1), “alterations in” is replaced by “amendments to”.

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

234 Discretion to grant relief in cases of financial hardship

• (1) In section 177(4), “issue an amended” is replaced by “amend an”.

  (2) Subsection (1) applies to the 2002-03 and subsequent income years.

235 Obligation to pay tax on foreign investment fund income able to be suspended

• (1) In section 183(2), “Sections 120T and 142” is replaced by “Part VII”.

  (2) Section 183(2)(b)(i)(A) is replaced by:

  • “(A) the date of the first notice of assessment with respect to that tax; or.”

  (3) Subsections (1) and (2) apply to the 2002-03 and subsequent income years.

236 Consequential changes to sections resulting from taxpayer assessment

• (1) Wherever it occurs, “alter” is replaced by “amend” in the following sections:

  107A	108	108A
  127(1)	130(4)	138P(3).
  138P(4).

  (2) Wherever it occurs, “altered” is replaced by “amended” in the following sections:

  107

  136(17)(a)

  176(1)

  (3) Wherever it occurs, “alteration” is replaced by “amendment” in the following sections:

  135(3)(a)

  136(19)(a)

  138P(5).

  (4) Subsections (1) to (3) apply to the 2002-03 and subsequent income years.

237 Goods and Services Tax Act 1985

• Sections 238, 239, 240 and 241 amend the Goods and Services Tax Act 1985.

238 Meaning of term supply

• (1) In section 5(11G)—

  • (a) in the portion before paragraph (a), “if” is omitted:

  • (b) in paragraph (a), “if” is inserted before “it”:

  • (c) in paragraph (b), “if” is inserted before “the supplier of the goods and services”.

  (2) Subsection (1) applies on and after 10 October 2000.

239 Value of supply of goods and services

• (1) This section amends section 10 of the Goods and Services Tax Act 1985 as it was before its amendment by section 79 of the Taxation (Remedial Matters) Act 1999.

  (2) After section 10(16), the following is inserted:

  • “(16A) Subsection (16) does not apply to a supply of services described in section 11(2A).”

  (3) After section 10(17), the following is inserted:

  • “(17A) Subsection (17) applies to a supply of services described in section 11(2A) which is in exchange for a token, stamp or voucher even if the monetary value of the token, stamp or voucher is stated thereon.”

  (4) Subsections (2) and (3) apply to a supply made by a registered person between 1 October 1986 and 19 May 1999 (both dates inclusive) if, on or after 15 September 1995, the registered person has sought an adjustment on any basis to a calculation of tax payable in respect of the supply.

  Subsection (1) was amended by section 111 Taxation (Relief, Refunds and Miscellaneous Provisions) Act 2002 (2002 No 32) by omitting the words “before its replacement by section 90 of the Taxation (GST and Miscellaneous Provisions) Act 2000 and” with application as from 24 October 2001.

240 Zero-rating of goods

• (1) After section 11(1)(k), the following is inserted:

  • “(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, that cause or enable the craft to sail, or that ensure the safety of passengers and crew on the craft; or.”

  (2) Section 11(1)(l) is replaced by:

  • “(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 going to a destination outside New Zealand fisheries waters; or.”

  (3) In section 11(9), the following is inserted after the definition of aircraft:

  “consumable stores means—

  • “(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), in the definition of foreign-going ship, “as those terms are defined in section 2 of the Maritime Transport Act 1994,” is omitted.

  (5) In section 11(9), the following is inserted after the definition of New Zealand fisheries waters:

  “pleasure craft has the meaning set out in section 2 of the Maritime Transport Act 1994.”

  (6) In section 11(9), the following is added after the definition of sealed bag system:

  “ship has the meaning set out in section 2 of the Maritime Transport Act 1994.”

  (7) Subsections (1) to (6) apply on and after the date this Act receives the Royal assent.

241 Zero-rating

• (1) This section amends section 11 of the Goods and Services Tax Act 1985 as it was before its replacement by section 90 of the Taxation (GST and Miscellaneous Provisions) Act 2000 and before its amendment by section 80 of the Taxation (Remedial Matters) Act 1999.

  (2) After section 11(2)(ca), the following is inserted:

  • “(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), the following is inserted:

  • “(2A) Subsection (2)(e) does not apply to a supply of services under an agreement that is entered into, whether directly or indirectly, with a person, person A, who is not resident in New Zealand if—

    • “(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, including—

      • “(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) applies to a supply made by a registered person between 1 October 1986 and 19 May 1999 (both dates inclusive) if, on or after 15 September 1995, the registered person has sought an adjustment on any basis to a calculation of tax payable in respect of the supply.

  (5) Subsection (2) applies only if subsection (3) applies.

  (6) Subsection (4) does not apply to a supply made by a registered person if the Commissioner has, on or before 14 May 2001—

  • (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.

242 Estate and Gift Duties Act 1968

• Sections 243 to 246 amend the 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 is repealed.

  (2) Subsection (1) applies on 20 May 1999.

  (3) Despite subsection (2), subsection (1) does not apply to a financial arrangement that is transferred by way of gift between 10 October 2000 and 2 April 2001 (both dates inclusive).

244 Exemption for gifts of financial arrangements under accrual rules in Income Tax Act 1994 (Part EH, Division 1)

• (1) Section 75BB is repealed.

  (2) Subsection (1) applies on the implementation date (as defined in section EZ 45 of the Income Tax Act 2004).

  (3) Despite subsection (2), subsection (1) does not apply to a financial arrangement that is transferred by way of gift between 10 October 2000 and 2 April 2001 (both dates inclusive).

  Subsection (2) was amended, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35) by substituting the words “section EZ 45 of the Income Tax Act 2004” for the words “section EH 14 of the Income Tax Act 1994”.

245 Exemption for gifts of financial arrangements under accrual rules in Income Tax Act 1976