Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Income - Terminating provisions

CZ 15: Accident insurance contracts before 1 July 2000

You could also call this:

“Rules for certain insurance payments made before July 2000”

You might have paid money for insurance before 1 July 2000. This law talks about two types of payments you might have made.

The first type is money you paid for accident insurance. This insurance had to be in place before 1 July 2000. The law that defined this type of insurance was called the Accident Insurance Act 1998.

The second type is money you paid for a special kind of insurance. This insurance covered you if you got hurt at work. It also had to be in place before 1 July 2000.

Both of these types of payments are treated in a special way for tax purposes. The law calls them ‘premiums’ or ‘contributions’. You can find out more about how they’re treated in section CX 16(2) of this law.

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 It might be out of date or be missing some parts.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=DLM1513535.

Topics:
Money and consumer rights > Taxes
Work and jobs > Workplace safety
Previous

CZ 14: Treatment of superannuation fund interests in group investment funds on 1 April 1999, or

“How superannuation funds' investments in group investment funds are taxed from 1 April 1999”

Next

CZ 16: Interest payable to exiting company: 2001, or

“Dairy companies exiting in 2001 don't pay tax on interest from buy-out”

Part C Income
Terminating provisions

CZ 15Accident insurance contracts before 1 July 2000

  1. A premium or contribution referred to in section CX 16(2) (Contributions to life or health insurance) is—

  2. a premium or contribution paid for an accident insurance contract, as defined in section 13 of the Accident Insurance Act 1998, that was in force before 1 July 2000; or
    1. a premium or contribution paid for a contract to which section 188(1)(a) of that Act applied, to the extent to which it related to cover and entitlements for work-related personal injury, that was in force before 1 July 2000.

      Compare