Income Tax Act 1994 Amendment Act 1995
Income Tax Act 1994 Amendment Act 1995
Income Tax Act 1994 Amendment Act 1995
Public Act |
1995 No 18 |
|
Date of assent |
31 March 1995 |
|
Contents
An Act to amend the Income Tax Act 1994
BE IT ENACTED by the Parliament of New Zealand as follows:
1 Short Title and commencement
(1)
This Act may be cited as the Income Tax Act 1994 Amendment Act 1995, and shall be read together with and deemed part of the Income Tax Act 1994 (hereinafter referred to as the principal Act).
(2)
This Act shall come into force on 1 April 1995.
2 Exemption from tax of certain unit trust and group investment fund dividends
Section CZ 4(1) of the principal Act is amended by omitting the expression “1 April 1995”
, and substituting the expression “1 April 1996”
.
3 Rebate in respect of gifts of money
(1)
Section KC 5(1) of the principal Act is amended by repealing paragraph (az), and substituting the following paragraph:
“(az)
The New Zealand Rotary Clubs Charitable Trust:”.
(2)
Section KC 5(1) is further amended by adding the following paragraphs:
“(bm)
Adventist Development and Relief Agency:
“(bn)
Mobility Equipment for the Needs of Disabled Trust:
“(bo)
The Serious Road Trip Charitable Trust:
“(bp)
Valehead Community Health Centre Trust.”
4 New Schedule 12 substituted
The principal Act is amended by repealing Schedule 12, and substituting the Schedule 12 set out in the Schedule to this Act.
Schedule NEW SCHEDULE 12 SUBSTITUTED IN PRINCIPAL ACT
Section 4
“SCHEDULE 12 “Amount that, for Purposes of Section KD 5(6), is deemed to be Equivalent of an Annual Amount
Section KD 5(6)
| First Column | Second Column |
|---|---|
| Amount that, in relation to any application for a certificate of entitlement to a credit of tax, is the annual amount |
Amount that, for purposes of section KD 5, is deemed to be the equivalent of that annual amount $ |
| Amount does not exceed $20,000 | 20,000 |
| Amount exceeds $20,000 but does not exceed $21,500 | 21,500 |
| Amount exceeds $21,500 but does not exceed $23,500 | 23,500 |
| Amount exceeds $23,500 but does not exceed $25,500 | 25,500 |
| Amount exceeds $25,500 but does not exceed $27,000 | 27,000 |
| Amount exceeds $27,000 but does not exceed $28,500 | 28,500 |
| Amount exceeds $28,500 but does not exceed $30,000 | 30,000 |
| Amount exceeds $30,000 but does not exceed $31,500 | 31,500 |
| Amount exceeds $31,500 but does not exceed $33,000 | 33,000 |
| Amount exceeds $33,000 but does not exceed $34,500 | 34,500 |
| Amount exceeds $34,500 but does not exceed $36,000 | 36,000 |
| Amount exceeds $36,000 but does not exceed $37,500 | 37,500 |
| Amount exceeds $37,500 but does not exceed $39,000 | 39,000 |
| Amount exceeds $39,000 but does not exceed $40,500 | 40,500 |
| Amount exceeds $40,500 but does not exceed $42,000 | 42,000 |
| Amount exceeds $42,000 but does not exceed $43,500 | 43,500 |
| Amount exceeds $43,500 but does not exceed $45,000 | 45,000 |
| Amount exceeds $45,000 but does not exceed $46,500 | 46,500 |
| Amount exceeds $46,500 but does not exceed $48,000 | 48,000 |
| Amount exceeds $48,000 but does not exceed $49,500 | 49,500 |
| Amount exceeds $49,500 but does not exceed $51,000 | 51,000 |
| Amount exceeds $51,000 but does not exceed $52,500 | 52,500 |
| Amount exceeds $52,500 but does not exceed $54,000 | 54,000 |
| Amount exceeds $54,000 but does not exceed $55,500 | 55,500 |
| Amount exceeds $55,500 but does not exceed $57,000 | 57,000 |
| Amount exceeds $57,000 but does not exceed $58,500 | 58,500 |
| Amount exceeds $58,500 but does not exceed $60,000 | 60,000 |
| Amount exceeds $60,000 but does not exceed $61,500 | 61,500 |
| Amount exceeds $61,500 but does not exceed $63,000 | 63,000 |
| Amount exceeds $63,000 but does not exceed $64,500 | 64,500 |
| Amount exceeds $64,500 but does not exceed $66,000 | 66,000 |
| Amount that exceeds $66,000 | the number of complete dollars comprised in the annual amount.” |
This Act is administered in the Inland Revenue Department.