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Income Tax Act 2007

Income - Excluded income - Exclusions and limitations

CX 33B: Benefits for members of Parliament

You could also call this:

“How tax estimates are made for benefits given to MPs”

You might be wondering about the benefits that members of Parliament receive. The law says that reasonable estimates can be used to figure out what these benefits are for tax purposes. This applies to benefits given under the Members of Parliament (Remuneration and Services) Act 2013.

When it comes to fringe benefit tax (FBT) rules, these estimates help decide if a benefit is a fringe benefit, if it’s not counted as a fringe benefit, or if it has no value for tax purposes. This makes it easier to understand and calculate the tax on benefits that members of Parliament get.

Remember, this is just about how they estimate the value of these benefits for tax reasons. It doesn’t change what benefits the members actually receive.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM5493720.

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Part C Income
Excluded income: Exclusions and limitations

CX 33BBenefits for members of Parliament

  1. Reasonable estimates may be used to determine, for the purposes of the FBT rules, what benefit provided under the Members of Parliament (Remuneration and Services) Act 2013 to a member of Parliament is a fringe benefit, or excluded from being a fringe benefit, or valued at zero.

Notes
  • Section CX 33B: inserted (with effect on 1 July 2013), on , by section 22 of the Taxation (Livestock Valuation, Assets Expenditure, and Remedial Matters) Act 2013 (2013 No 52).
  • Section CX 33B: amended, on , by section 66 of the Members of Parliament (Remuneration and Services) Act 2013 (2013 No 93).