Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Income - Excluded income - Exclusions and limitations

CX 32: Services provided to superannuation fund

You could also call this:

“Tax-free services for super funds if they could've claimed a deduction”

You don’t have to pay extra tax on services given to a superannuation fund if the fund could have claimed a tax deduction for those services. This means that if the superannuation fund had paid for the services itself, and could have deducted that cost from its taxes, then providing those services to the fund isn’t counted as a fringe benefit. This rule helps to make sure that superannuation funds aren’t unfairly taxed for services they need.

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 It might be out of date or be missing some parts.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=DLM1513400.

Topics:
Money and consumer rights > Taxes
Money and consumer rights > Savings and retirement
Previous

CX 31: Contributions to income protection insurance, or

“Employer payments for taxable income protection insurance aren't a fringe benefit”

Next

CX 33: Goods provided at discount by third parties, or

“Rules for employee discounts from third parties”

Part C Income
Excluded income: Exclusions and limitations

CX 32Services provided to superannuation fund

  1. A fringe benefit does not arise if services are provided to a superannuation fund to the extent to which the superannuation fund would have been allowed a deduction for the expenditure incurred in providing the services if the expenditure had been incurred by the superannuation fund.

Compare