This law has three main goals. First, it aims to explain what income is and how to tax it. It looks at your total income and then takes away some amounts to figure out how much you should pay tax on.
Second, the law sets out what you need to do when it comes to paying taxes. It tells you about your responsibilities and what the government expects from you.
Finally, the law provides clear instructions on how to work out the tax you owe. It also explains how you can meet your tax obligations. These rules help make sure everyone understands how to follow the tax system correctly.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1512300.
A 1: Title, or
“This provision states the official name of the law: Income Tax Act 2007”
The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.
Note 4 at the end of this version provides a list of the amendments included in it.
This Act is administered by the Inland Revenue Department.
