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Income Tax Act 2007

Income - Income specific to certain entities

CV 5: Statutory producer boards

You could also call this:

“Rules for statutory producer boards on handling levies as income”

If you are a statutory producer board, you need to know about levies. A levy is money that you collect from people in your industry. Most levies that you receive are counted as income. However, there’s one exception. If you collect a levy that’s specifically for capital development, it’s not counted as income. Capital development means building or buying things that will help your industry grow in the long term.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1513095.

Topics:
Money and consumer rights > Taxes
Business > Industry rules
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Part C Income
Income specific to certain entities

CV 5Statutory producer boards

  1. A levy received by a statutory producer board, other than a levy charged specifically for capital development, is income.

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