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Income Tax Act 2007

Income - Income from business or trade-like activities - Exclusions for Kāinga Ora–Homes and Communities and wholly-owned group

CB 15D: Kāinga Ora–Homes and Communities and wholly-owned group

You could also call this:

“Tax rules for Kāinga Ora and its fully owned companies”

This part of the law is about Kāinga Ora–Homes and Communities and companies that are fully owned by it. Some parts of the law that usually apply to most people or companies don’t apply to Kāinga Ora or its fully owned companies. These parts are CB 9(2), CB 10(2), CB 11(1)(b)(ii), and CB 15(1).

If money isn’t counted as income for Kāinga Ora or its fully owned companies because of this rule, it also won’t be counted as income under two other parts of the law. These parts are CV 1 and CV 2, which usually apply to groups of companies.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS177309.

Topics:
Money and consumer rights > Taxes
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Part C Income
Income from business or trade-like activities: Exclusions for Kāinga Ora–Homes and Communities and wholly-owned group

CB 15DKāinga Ora–Homes and Communities and wholly-owned group

  1. Sections CB 9(2), CB 10(2), CB 11(1)(b)(ii), and CB 15(1) do not apply to Kāinga Ora–Homes and Communities or a company in the same wholly-owned group of companies as Kāinga Ora–Homes and Communities.

  2. If subsection (1) applies to prevent an amount from being income of a person who is a member of a wholly-owned group of companies or a consolidated group, the amount is not income of the person under section CV 1 or CV 2 (which apply to group companies and to consolidated groups).

Notes
  • Section CB 15D: inserted (with effect on 1 July 2017), on , by section 121 of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
  • Section CB 15D heading: amended (with effect on 1 October 2019), on , by section 190 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).
  • Section CB 15D(1): amended (with effect on 1 October 2019), on , by section 190 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).
  • Section CB 15D list of defined terms Kāinga Ora–Homes and Communities: inserted (with effect on 1 October 2019), on , by section 190 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).