Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Income - Excluded income - Definitions

CX 40: Superannuation fund deriving amount from life insurance policy

You could also call this:

“Tax exemption for super funds receiving money from NZ life insurance policies”

If you have a superannuation fund that puts money into a life insurance policy in New Zealand, this law applies to you. It says that any money your superannuation fund gets from the life insurance policy doesn’t count as income. This means you don’t have to pay tax on that money. The law only talks about life insurance policies that are offered or started in New Zealand.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1513427.

Topics:
Money and consumer rights > Taxes
Money and consumer rights > Savings and retirement
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CX 39: Life insurers and fully reinsured persons, or

“This rule about life insurance and taxes was removed in 2010”

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CX 41: Resident insurance underwriters, or

“Rules for New Zealand residents who run insurance businesses”

Part C Income
Excluded income: Definitions

CX 40Superannuation fund deriving amount from life insurance policy

  1. This section applies when a superannuation fund invests funds in a life insurance policy offered or entered into in New Zealand.

  2. An amount that the superannuation fund derives from the policy is excluded income.

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