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Income Tax Act 2007

Income - Adjustments - Expenditure other than for entities’ purposes

CH 11C: Te Ture Whakatupua mō Te Kāhui Tupua 2025/Taranaki Maunga Collective Redress Act 2025 asset management company

You could also call this:

“Rules for a company's spending under the Taranaki Maunga Collective Redress Act 2025”

When you look at the Te Ture Whakatupua mō Te Kāhui Tupua 2025/Taranaki Maunga Collective Redress Act 2025 asset management company, you need to understand how it spends money. If the company spends money on something that is not its main purpose, as set out in Part 4 of the Act, this section applies. You should know the company’s main purpose is defined in the Te Ture Whakatupua mō Te Kāhui Tupua 2025/Taranaki Maunga Collective Redress Act 2025.

If the company spends money on something outside its main purpose, it is treated as if it earned that amount of money. This means the company’s income for the year includes the amount it spent on other things. The amount of expenditure is the amount of income the company is treated as deriving for the income year.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1024967.

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CH 11B: Te Kāhui Tupua and Te Tōpuni Kōkōrangi, or

"Rules for Te Kāhui Tupua and Te Tōpuni Kōkōrangi when spending money outside their main purpose"

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CH 12: Income from hybrid mismatch arrangement, or

"Money earned from certain international tax arrangements must be counted as taxable income"

Part C Income
Adjustments: Expenditure other than for entities’ purposes

CH 11CTe Ture Whakatupua mō Te Kāhui Tupua 2025/Taranaki Maunga Collective Redress Act 2025 asset management company

  1. This section applies when the asset management company (as defined in Te Ture Whakatupua mō Te Kāhui Tupua 2025/Taranaki Maunga Collective Redress Act 2025) incurs an amount of expenditure in an income year for a purpose outside the purpose of the company set out in Part 4 of that Act.

  2. The asset management company is treated as deriving income for the income year of an amount equal to the amount of the expenditure.

Notes
  • Section CH 11C: inserted, on , by section 57(2) of the Te Ture Whakatupua mō Te Kāhui Tupua 2025/Taranaki Maunga Collective Redress Act 2025 (2025 No 1).