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Income Tax Act 2007

Income - Employee or contractor income - Definitions

CE 12: Tax credits for personal service rehabilitation payments

You could also call this:

“Credit for rehabilitation payments counted as income”

When you get a tax credit in a tax year for personal service rehabilitation payments, you need to know two things:

  1. This rule applies to you if you have a tax credit under section LB 7. This section is about tax credits related to personal service rehabilitation payments for providers.

  2. The amount of the tax credit you get is counted as your income in the same year you receive it. This means you’ll need to include this amount when you’re calculating your total income for that year.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1512815.

Topics:
Money and consumer rights > Taxes
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“Payments from employer-provided income protection insurance are taxable income”

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“Payments from the government that count as income”

Part C Income
Employee or contractor income: Definitions

CE 12Tax credits for personal service rehabilitation payments

  1. This section applies when a person has a tax credit in a tax year under section LB 7 (Tax credits related to personal service rehabilitation payments: providers).

  2. An amount equal to the credit is income of the person in the corresponding income year.

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Notes
  • Section CE 12: substituted, on , by section 319 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).