Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Income - Income specific to certain entities

CV 6: Crown Research Institutes

You could also call this:

“Money received by Crown Research Institutes for certain activities counts as income”

If you’re a Crown Research Institute, you need to know that some money you get counts as income. This includes money given to you for doing certain activities or for making things that are good for the public.

The activities that count are listed in section 7 of the Research, Science, and Technology Act 2010. Money you get for doing these activities is income.

You also get income if you’re given money to make things that are called “public good science and technology”. This means science or technology that:

  1. Helps us learn more about our world, including nature and how people live together.
  2. Helps New Zealand keep or get better at important science and technology skills.
  3. Could be good for New Zealand, but probably wouldn’t get enough money from places that aren’t the government.

So, if you’re a Crown Research Institute and you get money for these kinds of activities or outputs, that money is counted as your income.

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 It might be out of date or be missing some parts.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

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1513097.

Topics:
Money and consumer rights > Taxes
Previous

CV 5: Statutory producer boards, or

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

Next

CV 7: Australian wine producer rebate, or

“New Zealand winemakers must include Australian rebates in their income”

Part C Income
Income specific to certain entities

CV 6Crown Research Institutes

  1. An amount that a Crown Research Institute derives is income of the institute if the amount is provided to the institute for the purposes of—

  2. any 1 or more of the activities listed in section 7 of the Research, Science, and Technology Act 2010; or
    1. producing outputs relating to public good science and technology.

      1. In this section, public good science and technology means science or technology—

      2. that is likely to increase knowledge or understanding of the physical, biological, or social environment; or
        1. that is likely to develop, maintain, or increase skills or scientific or technological expertise that is of particular importance to New Zealand; or
          1. that may be of benefit to New Zealand, but is unlikely to be funded, or adequately funded, from non-governmental sources.

            Compare
            Notes
            • Section CV 6: substituted, on , by section 18 of the Research, Science, and Technology Act 2010 (2010 No 131).