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Income Tax Act 2007

Schedule 29: Portfolio investment entities: listed investors

You could also call this:

“List of investors considered as "listed investors" for portfolio investment entities”

This schedule lists the types of investors that are considered “listed investors” for portfolio investment entities (PIEs) under the Income Tax Act 2007. It includes various financial and government entities such as PIEs, foreign PIE equivalents, life insurers, and certain Crown-owned entities like the New Zealand Superannuation Fund and the Venture Capital Fund.

The list also includes other government bodies like the Accident Compensation Corporation, Toka Tū Ake – Natural Hazards Commission, and local authorities. It mentions specific types of trusts and companies, such as community trusts, lines trusts, and companies wholly owned by local authorities or lines trusts.

Additionally, the schedule includes certain superannuation funds, like those established under the National Provident Fund Restructuring Act 1990 and the Government Superannuation Fund Act 1956. It also mentions public unit trusts and some superannuation funds that existed before 17 May 2006 and meet specific criteria related to their structure and investor control.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2918740.

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29Portfolio investment entities: listed investors

A

  • A PIE or an entity that qualifies for PIE status.
    1. A foreign PIE equivalent.
      1. A life insurer.
        1. The Crown as owner of the New Zealand Superannuation Fund.
          1. The Crown as owner of the VCF.
            1. A Fund investment entity that is treated as being wholly owned by the Crown under section HR 4B.
              1. A VCF investment vehicle, as referred to in section 25 of the Venture Capital Fund Act 2019, that is treated as being wholly owned by the Crown under section HR 4B.
                1. A company that is treated as being wholly owned by the Crown under section HR 4B.
                  1. The Accident Compensation Corporation, or a Crown entity subsidiary of the Corporation.
                    1. Toka Tū Ake – Natural Hazards Commission.
                      1. A local authority.
                          1. A boutique investor class, treating interests combined under section HM 16 as held by 1 person.
                            1. A community trust.
                                1. A lines trust.
                                  1. A company in which a local authority or a lines trust holds—
                                    1. a voting interest of 100%; and
                                      1. if a market value circumstance exists for the company, a market value interest of 100%.
                                        2. Notes
                                        • Schedule 29 part A item 4: replaced, on , by section 7 of the Taxation (New Zealand Superannuation and Retirement Income) Act 2015 (2015 No 94).
                                        • Schedule 29 part A item 4BA: inserted, on , by section 17 of the New Zealand Superannuation and Retirement Income Amendment Act 2019 (2019 No 77).
                                        • Schedule 29 part A item 4B: replaced, on , by section 17 of the New Zealand Superannuation and Retirement Income (Controlling Interests) Amendment Act 2024 (2024 No 16).
                                        • Schedule 29 part A item 4BB: inserted, on , by section 17 of the New Zealand Superannuation and Retirement Income Amendment Act 2019 (2019 No 77).
                                        • Schedule 29 part A item 4C: inserted, on , by section 7 of the Taxation (New Zealand Superannuation and Retirement Income) Act 2015 (2015 No 94).
                                        • Schedule 29 part A item 6: replaced, on , by section 163 of the Natural Hazards Insurance Act 2023 (2023 No 1).
                                        • Schedule 29 part A item 7: replaced, on , by section 290(1) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
                                        • Schedule 29 part A item 7B: repealed, on , by section 138(1) of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).
                                        • Schedule 29 part A item 9: added (with effect on 1 April 2010), on (applying for the 2010–11 and later income years), by section 123(1) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).
                                        • Schedule 29 part A item 10: repealed, on , by section 290(2) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
                                        • Schedule 29 part A item 11: inserted, on , by section 138(2) of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).
                                        • Schedule 29 part A item 12: inserted, on , by section 138(2) of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).

                                        B

                                      2. A superannuation fund established under the proposal for the restructuring of the National Provident Fund required by the National Provident Fund Restructuring Act 1990.
                                        1. The fund established by the Government Superannuation Fund Act 1956.
                                          1. A public unit trust.
                                              1. A superannuation fund that—
                                                1. was in existence before 17 May 2006; and
                                                  1. would, if treated as a unit trust, meet the requirements of 1 or more of paragraphs (a) and (c) to (e) of the definition of public unit trust; and
                                                    1. has no investor, other than its manager or trustee, who can control its investment decisions.
                                                      2. Notes
                                                      • Schedule 29 part B item 4: repealed (with effect on 1 April 2010), on (applying for the 2010–11 and later income years), by section 123(2) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).