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Income Tax Act 2007

Income - Excluded income - Definitions

CX 54B: Transfers of emissions units under certain excepted financial arrangements

You could also call this:

“Emissions unit transfers: Tax-free income from certain financial deals”

When you transfer an emissions unit under a special kind of financial arrangement, you might get money that’s related to how much the emissions unit is worth. This money is called “excluded income”. This means you don’t have to pay tax on it. The special kind of financial arrangement is explained in another part of the law called section EW 5(11C). This rule helps you understand what counts as excluded income when you’re dealing with emissions units.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS223365.

Topics:
Money and consumer rights > Taxes
Environment and resources > Climate and energy
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Part C Income
Excluded income: Definitions

CX 54BTransfers of emissions units under certain excepted financial arrangements

  1. An amount that relates to the market value of an emissions unit and is derived by a person in a transfer of the emissions unit under an arrangement that is an excepted financial arrangement under section EW 5(11C) (What is an excepted financial arrangement?) is excluded income of the person.

Notes
  • Section CX 54B: inserted (with effect on 1 April 2018), on , by section 50 of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act 2019 (2019 No 33).