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CX 41: Resident insurance underwriters
or “Rules for New Zealand residents who run insurance businesses”
You could also call this:

“ Tax rules for selling shares in oil and gas companies ”

When you sell shares or trust interests in a controlled petroleum mining entity, the money you get from this sale is not counted as income that can be taxed. This is called excluded income.

When this rule applies, you need to follow Section 65 of the Tax Administration Act 1994. This section has more rules about what you need to do in this situation.

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Next up: CX 43: Farm-out arrangements for mining operations

or “Rules for sharing costs in mining partnerships”
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Part C Income
Excluded income: Definitions

CX 42Disposal of ownership interests in controlled petroleum mining entities

  1. The consideration that a person derives from disposing of shares or trust interests in a controlled petroleum mining entity is excluded income of the person.

  2. Section 65 of the Tax Administration Act 1994 applies when this section applies.

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