Plain language law

New Zealand law explained for everyone

Telecommunications Act 2001

Structural separation of Telecom - Taxation consequences of structural separation

69XZ: Approved issuer levy and administrative status

You could also call this:

"Rules for Telecom and Chorus companies paying taxes and fees"

Illustration for Telecommunications Act 2001

When a Telecom company registers a security, it is also registered by the Chorus company. You are treated as if the Chorus company registered it. The Chorus company is seen as an approved issuer for that security. The Telecom company and the Chorus company are seen as the same for tax purposes before a certain day. This is for things like making elections or giving notices. The Telecom and Chorus companies are also seen as the same for getting tax benefits, like a provisional rate or special rate, as defined in section EE 67 of the Income Tax Act 2007. A registered security means the same as in the Income Tax Act 2007.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4187748.

Topics:
Money and consumer rights > TaxesBusiness > Industry rules
Previous

69XY: Finance leases: financial arrangements rules, or

"Rules about renting things for a long time and how it affects tax"

Next

69Y: Purpose, or

"What the Telecommunications Act 2001 is trying to achieve"

Part 2AStructural separation of Telecom
Taxation consequences of structural separation

69XZApproved issuer levy and administrative status

  1. For the purposes of the Income Tax Act 2007 and the Stamp and Cheque Duties Act 1971, a transaction or class of transactions registered as a registered security or as registered securities by a Telecom company on or prior to the appointed day is treated as also being registered as a registered security or as registered securities, as the case may be, by the relevant Chorus company. The relevant Chorus company is treated as an approved issuer in respect of the registered security or registered securities, as the case may be.

  2. The relevant Telecom company and the relevant Chorus company are treated as the same person, for the period prior to and including the appointed day, for the purposes of the making, giving, or receiving of any election, notice, certificate, and filing provided for under the Inland Revenue Acts.

  3. A Telecom company and the relevant Chorus company are treated as the same person for the purposes of receiving the benefit of—

  4. a provisional rate, as defined in section EE 67 of the Income Tax Act 2007:
    1. a special rate, as defined in section EE 67 of that Act.

      1. In this section, registered security has the same meaning as in the Income Tax Act 2007.

      Notes
      • Section 69XZ: inserted, on (being the date of separation day, and an Order in Council (SR 2011/302) having been made under section 36), by section 51 of the Telecommunications (TSO, Broadband, and Other Matters) Amendment Act 2011 (2011 No 27).