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CW 62C: Income from foreign-currency loans used for disallowed residential property
or “Tax exemption for foreign-currency loan income used for certain residential properties”
You could also call this:

“Rules to prevent unfair tax avoidance schemes”

You might get some money that is not taxed. This is called exempt income. There are two ways this can happen:

First, if the Commissioner of Inland Revenue uses their power to adjust your income, they might decide that some of your money is exempt income. You can find more details about this in section GA 1 of the Income Tax Act.

Second, if you give too much money to your relatives as payment for work, some of that money might be treated as exempt income. This is explained more in section GB 23 of the Income Tax Act.

These rules are part of the government’s plan to stop people from avoiding taxes in unfair ways.

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Next up: CW 64: Exemption under other Acts

or “Tax exemptions granted by other laws”
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Part C Income
Exempt income

CW 63Avoidance arrangements

  1. An amount is exempt income if it is treated as exempt income under—

  2. section GA 1 (Commissioner’s power to adjust):
    1. section GB 23 (Excessive remuneration to relatives).

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