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CC 7: Consideration other than in money
or “How non-monetary benefits for business loans are treated as income”
You could also call this:

“Interest paid to you by the Commissioner is counted as income”

If the Commissioner pays you interest under Part 7 of the Tax Administration Act 1994, you need to count it as income. This interest is allocated according to section EF 4, which talks about the use of money interest payable by the Commissioner. When you’re dealing with financial arrangements rules, you don’t need to include this interest. These rules don’t apply to the interest mentioned in this section.

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Next up: CC 8B: Certain commercial bills: non-resident holders

or “Tax rules for non-New Zealanders holding certain commercial bills”
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Part C Income
Income from holding property (excluding equity)

CC 8Use of money interest payable by Commissioner

  1. Interest payable by the Commissioner to a person under Part 7 of the Tax Administration Act 1994 is income of the person.

  2. Interest to which this section applies is allocated under section EF 4 (Use of money interest payable by Commissioner).

  3. Interest to which this section applies is disregarded for the purposes of the financial arrangements rules.

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