48Enactments repealed
Public Acts repealed
- Income Tax Act 2004 (2004 No 35)
Regulations revoked
- Income Tax (Withholding Payments) Regulations 1979 (SR 1979/259)
Plain language law
New Zealand law explained for everyone
Schedule 39: Items for purposes of definition of special excluded depreciable property
or “List of special business items that had different value loss rules (no longer applies)”
or “List of special business items that had different value loss rules (no longer applies)”
You could also call this:
“List of old tax laws and rules that are no longer in effect”
This schedule lists the laws and rules that are no longer in effect because of the Income Tax Act 2007. You should know that the Income Tax Act 2004 has been repealed. This means it’s no longer a valid law and has been replaced by the new act.
The schedule also mentions some rules that have been revoked. Specifically, the Income Tax (Withholding Payments) Regulations 1979 are no longer in use. These were rules about how to handle withholding payments, which are a type of tax deduction.
When a new law comes into effect, it sometimes cancels out older laws and rules. This schedule is telling you which ones are no longer active because of the Income Tax Act 2007.
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Next up: Schedule 49: Enactments amended
or “List of laws and regulations changed by the Income Tax Act 2007”