Part CIncome
Exempt income
CW 39BAuckland Future Fund
An amount of income derived by a trustee of the Auckland Future Fund is exempt income.
Subsection (1) does not apply to an amount of income that—
- is derived by a trustee of the Auckland Future Fund from—
- a council-controlled organisation of Auckland Council; or
- an organisation linked by ownership or control to Auckland Council that is a port company, a subsidiary of a port company, or an energy company, and that would be a council-controlled organisation of Auckland Council in the absence of section 6(4) of the Local Government Act 2002; and
- a council-controlled organisation of Auckland Council; or
- is not—
- rates; or
- a dividend.
- rates; or
In this section, Auckland Future Fund—
- means the fund established by Auckland Council as part of its Long-term plan 2024–2034; and
- includes—
- any funds, assets, or both that the Council adds to the fund; and
- capital and income retained in the fund.
- any funds, assets, or both that the Council adds to the fund; and
In this section, Auckland Council means the territorial authority established by section 6(1) of the Local Government (Auckland Council) Act 2009 as the Auckland Council.
Notes
- Section CW 39B: inserted (with effect on 1 April 2024), on , by section 28(1) (and see section 28(2) for application) of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).