Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Income - Excluded income - Definitions

CX 52: Refund from environmental restoration account

You could also call this:

“Refunds from environmental restoration accounts are not taxable income”

If you receive a refund from your environmental restoration account under section EK 9, you don’t need to count it as income. This means you won’t have to pay tax on this refund. The government treats this money as ‘excluded income’, which is a special type of money that doesn’t get included when calculating your taxable income.

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 It might be out of date or be missing some parts.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=DLM1513466.

Topics:
Money and consumer rights > Taxes
Environment and resources > Conservation
Previous

CX 51C: Disposal of fishing quota emissions units, or

“How selling or disposing of fishing quota emissions units affects your income”

Next

CX 53: Credits for inflation-indexed instruments, or

“Adjustments to loan amounts due to changes in New Zealand's inflation”

Part C Income
Excluded income: Definitions

CX 52Refund from environmental restoration account

  1. A refund to a person under section EK 9 (Refund of payment if excess, lacking details) is excluded income of the person.

Compare