Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Taxation of certain entities - Portfolio investment entities

HL 23: Payments of tax by portfolio tax rate entity choosing to pay provisional tax

You could also call this:

“Outdated rule: How certain investment groups used to pay taxes”

You can’t use this part of the law anymore. It used to talk about how certain groups called portfolio tax rate entities could pay their taxes. But the government decided to remove this rule on 1 April 2010. This means it doesn’t apply to any money you earned in 2010 or later years. If you want to know more about how these groups pay taxes now, you might need to look at other parts of the tax law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1517578.

Topics:
Money and consumer rights > Taxes
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HL 22: Payments of tax by portfolio tax rate entity making no election, or

“Old rules for tax payments by certain investment entities no longer apply”

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HL 24: Payments of tax by portfolio tax rate entity choosing to make payments when investor leaves, or

“Rule for tax payments when investors leave certain groups was removed in 2010”

Part H Taxation of certain entities
Portfolio investment entities

HL 23Payments of tax by portfolio tax rate entity choosing to pay provisional tax (Repealed)

    Notes
    • Section HL 23: repealed, on (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).