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Income Tax Act 2007

Timing and quantifying rules - Controlled foreign company and foreign investment fund rules - Attributing interests in FIFs

EX 39: Terminating exemption for grey list company with numerous New Zealand shareholders

You could also call this:

“Ending of tax exemption for foreign companies with many NZ shareholders”

This part of the law used to be about ending a special rule for certain companies with many New Zealand shareholders. The rule was part of the rules about owning shares in foreign companies. However, this section has been removed from the law. It no longer applies since 1 October 2011. The government took it out of the Income Tax Act 2007 on 2 November 2012. This change affects how you calculate your taxes for the 2012-13 tax year and all the years after that.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1515539.

Topics:
Money and consumer rights > Taxes
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“Certain employee share schemes exempt from Foreign Investment Fund rules”

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“Exemption for certain overseas investments affected by exchange controls”

Part E Timing and quantifying rules
Controlled foreign company and foreign investment fund rules: Attributing interests in FIFs

EX 39Terminating exemption for grey list company with numerous New Zealand shareholders (Repealed)

    Notes
    • Section EX 39: repealed (with effect on 1 October 2011), on (applying for the 2012–13 and later income years), by section 47(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).