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CW 50: Veterinary services bodies
or “Tax exemptions for veterinary groups that improve services in New Zealand”
You could also call this:

“Tax exemption for dairy cow breeding improvement organisations”

If you have a herd improvement association or society, you might not have to pay tax on some of the money it makes. This is called exempt income. For this to happen, two things need to be true:

First, the main reason for setting up your association or society must be to help make dairy cows in New Zealand better.

Second, you can’t use any of the money from the association or society to make a profit for yourself or anyone else involved, like members or owners.

If both these things are true, then the money your herd improvement group makes might not be taxed.

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Next up: CW 52: Community trusts

or “Community trusts don't have to pay income tax on their earnings”
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Part C Income
Exempt income

CW 51Herd improvement bodies

  1. An amount of income derived by a herd improvement association or society is exempt income if—

  2. the association or society was established mainly to promote the improvement of the standard of dairy cattle in New Zealand; and
    1. none of its funds is used or available to be used for the private pecuniary profit of a member, proprietor, shareholder, or associate of any of them.

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