The Income Tax Act 2007 repeals certain laws listed in schedule 48. This means those laws are no longer in effect. However, these repeals usually only apply to income tax from the 2008-09 tax year onwards. The old laws might still apply to earlier tax years, unless the situation clearly shows otherwise. This helps make sure that the change in laws doesn’t cause problems with how taxes were handled in the past.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1523174.
The enactments listed in schedule 48 (Enactments repealed) are repealed.
However, unless the context requires otherwise, the repeals listed in schedule 48 apply only in relation to the tax on income derived in the 2008–09 income year and later income years.
