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CZ 16: Interest payable to exiting company: 2001
or “Dairy companies exiting in 2001 don't pay tax on interest from buy-out”
You could also call this:

“Tax-free dividend for companies leaving the dairy industry in 2001”

If you’re a company that’s leaving the dairy industry, as explained in section 5 of the Dairy Industry Restructuring Act 2001, you might get some money. This money is called a dividend. You get this dividend when the New Zealand Dairy Board buys your part of the business. This is done according to schedule 4 of the Act. The good news is that you don’t have to pay tax on this money. It’s what we call ‘exempt income’.

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Next up: CZ 18: Benefit provider approved within 6 months of 25 November 2003

or “Approval for benefit providers within six months of November 2003”
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Part C Income
Terminating provisions

CZ 17Dividend of exiting company: 2001

  1. If an exiting company, as defined in section 5 of the Dairy Industry Restructuring Act 2001, derives a dividend as a result of a buy-out of the company’s interests in the New Zealand Dairy Board under schedule 4 of the Act, the dividend is exempt income.

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