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Income Tax Act 2007

Income - Excluded income - Definitions

CX 48C: Government funding additional to government screen production payments

You could also call this:

“Additional government funding for screen productions may not be taxable income”

When a public authority gives you money for a project, it might not count as income in some cases. This happens when:

  1. The money isn’t a grant or subsidy.
  2. The money isn’t a loan that might not need to be paid back if certain conditions are met.
  3. You also get a government screen production payment for the same project.

If all these things are true, then the money you get from the public authority doesn’t count as income. This means you don’t have to pay tax on it.

Remember, this only applies to the specific payment from the public authority. The government screen production payment is separate and might have different rules.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2540344.

Topics:
Money and consumer rights > Taxes
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CX 48B: Issue of post-1989 forest land units, or

“Removal of rules about forest land units from tax law”

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CX 48D: Tax credits for expenditure on research and development, or

“Tax credits for research and development spending no longer exist”

Part C Income
Excluded income: Definitions

CX 48CGovernment funding additional to government screen production payments

  1. This section applies when a public authority makes a payment to a person for a project if—

  2. the payment is not in the nature of a grant or subsidy; and
    1. the payment is not a grant-related suspensory loan; and
      1. the person receives a government screen production payment for the project in addition to the payment.

        1. The payment is excluded income of the person.

        Notes
        • Section CX 48C: inserted (with effect on 1 October 2009), on , by section 59 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).