Part C
Income
Exempt income
CW 7Foreign-sourced interest
Interest that a person derives from a country or territory outside New Zealand is exempt income if—
- the person was not resident in New Zealand during the period for which the interest was payable; and
- the interest was exempt under the laws of the overseas country or territory from a tax that is substantially the same as income tax imposed under this Act.
Compare
- 2004 No 35 s CW 7