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LL 9: Some definitions
or “Definitions for tax credits removed from the law”
You could also call this:

“Tax credits for distributions from Māori authorities”

If you receive a taxable Maori authority distribution in a tax year, you get a tax credit. The amount of this credit is the same as the Maori authority credit attached to the distribution you received.

Your tax credit might be changed if sections LO 2 to LO 4 apply to your situation. These sections might make your credit smaller or larger.

You might lose your tax credit completely if sections GB 42 and GB 43 apply to you. These sections are about Maori authority arrangements that are made to get a tax advantage.

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Next up: LO 2: Beneficiaries of trusts

or “How tax credits work for trust beneficiaries receiving Maori authority distributions”
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Part L Tax credits and other credits
Tax credits for Maori authority credits

LO 1Tax credits for Maori authority credits

  1. A person who derives a taxable Maori authority distribution in a tax year has a tax credit for the tax year equal to the amount of the Maori authority credit attached to the distribution.

  2. The amount of the person’s credit in subsection (1) may be reduced or increased if any of sections LO 2 to LO 4 apply.

  3. A person’s credit under this section is extinguished if sections GB 42 and GB 43 (which relate to Maori authority arrangements to obtain tax advantage) apply.

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