Part CIncome
Exempt income
CW 64Exemption under other Acts
An amount of income expressly exempted from income tax by any other Act is exempt income.
Compare
- 2004 No 35 s CW 50
If another Act specifically says that some money or income doesn't need to be taxed, you don't have to pay income tax on it. This is called exempt income. It's important to remember that this only applies when the other Act clearly states that the income is exempt from tax.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1513324.
An amount of income expressly exempted from income tax by any other Act is exempt income.