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CZ 5: Exempt interest: overseas money lent to government or local or public authority before 29 July 1983
or “Tax-free interest on certain overseas loans to NZ government before 29 July 1983”
You could also call this:

“Rules for income from commercial bills issued before 31 July 1986”

If you own a commercial bill that was issued before 31 July 1986, there are two ways you can get income from it:

When you redeem the commercial bill, the amount of money you get is counted as your income.

If you sell or give away the commercial bill to someone else, the value of the bill on the day you get rid of it is also counted as your income. However, if you transfer the bill as part of a relationship agreement, this rule doesn’t apply.

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Next up: CZ 7: Primary producer co-operative companies: 1987–88 income year

or “Rules for primary producer co-ops selling assets or paying shareholders after 1987-88 deductions”
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Part C Income
Terminating provisions

CZ 6Commercial bills before 31 July 1986

  1. The amount that a person receives on the redemption of a commercial bill owned by the person is income of the person.

  2. The value of a commercial bill on the day its owner disposes of it is income of the owner. This subsection does not apply if the disposal is a transfer under a relationship agreement.

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