This part of the law used to talk about paying back loans made from reinvestment profit. However, it's no longer part of the law. On 1 April 2014, this section was removed from the Income Tax Act 2007. This means you don't need to worry about this rule anymore because it doesn't apply now.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1513445.

Topics:

Money and consumer rights > TaxesMoney and consumer rights > Banking and loans

CX 45: Disposal of mining shares acquired with reinvestment profit, or

"Old rules for selling mining shares bought with reinvestment profit no longer apply"

CX 47: Government grants to businesses, or

"Government payments to businesses for certain expenses are not taxable income"

Part CIncome
Excluded income: Definitions

CX 46Repayment of loans made from reinvestment profit (Repealed)

Notes

Section CX 46: repealed, on 1 April 2014, by section 24 of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).