Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Tax credits and other credits - Tax credits for foreign income tax

LJ 4: Meaning of segment of foreign-sourced income

You could also call this:

“What counts as income from overseas for tax purposes”

You have a segment of foreign-sourced income when you earn money from another country. This money needs to be assessable income, which means it’s income that can be taxed. The segment is a specific amount of money that comes from one country and has one source or type. For example, if you earn money from renting out a house in Australia, that would be a segment of foreign-sourced income. It’s from one country (Australia) and one source (rent from a property).

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1518107.

Topics:
Money and consumer rights > Taxes
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LJ 3: Meaning of foreign income tax, or

“What counts as tax paid in another country”

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LJ 5: Calculation of New Zealand tax, or

“How to work out New Zealand tax on overseas income”

Part L Tax credits and other credits
Tax credits for foreign income tax

LJ 4Meaning of segment of foreign-sourced income

  1. For the purposes of this Part, a person has a segment of foreign-sourced income equal to an amount of assessable income derived from 1 foreign country that comes from 1 source or is of 1 nature.

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