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Income Tax Act 2007

Taxation of certain entities - Portfolio investment entities - Requirements

HM 10B: Exclusion: banks and licensed non-bank deposit takers

You could also call this:

“Banks and some other money holders are not included in this tax rule”

When you are looking at the rules for the Income Tax Act 2007, you need to know that some entities are excluded. You cannot be a registered bank or a licensed non-bank deposit taker to be included. This rule is part of the law because of a change made by the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025.

You should check what a registered bank or a licensed non-bank deposit taker is to understand this rule. This rule helps to clarify who is included and who is not. It is an important part of the Income Tax Act 2007.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1432470.

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"Types of investments an entity must hold"

Part H Taxation of certain entities
Portfolio investment entities: Requirements

HM 10BExclusion: banks and licensed non-bank deposit takers

  1. The entity must not be a registered bank or a licensed non-bank deposit taker.

Notes
  • Section HM 10B: inserted, on , by section 86(1) of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).