This part of the law used to explain what ‘increase in savings’ means. It was part of the rules about tax credits and other credits in the Income Tax Act 2007. However, this section no longer exists. It was removed from the law on 2 June 2016. This means that you can’t use this part of the law anymore to understand what ‘increase in savings’ means for tax purposes.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1518401.
LZ 11: Maximum amount for all special home ownership accounts for all tax years, or
“This rule about savings limits for special home accounts no longer applies”
LZ 13: Part-year override of section LY 3(2)(b), or
“Special rules for partial-year Callaghan Innovation Growth Grant recipients in 2020-2021”
