Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Deductions - Specific rules for expenditure types

DB 17B: Transfers of emissions units under certain excepted financial arrangements

You could also call this:

“Rules for transferring emissions units in specific financial deals”

You can’t get a tax deduction for money you spend on the market value of an emissions unit when you transfer it under a special kind of financial arrangement. This special arrangement is called an “excepted financial arrangement” and is described in section EW 5(11C) of the Income Tax Act 2007. This rule is part of the law about deductions in New Zealand’s tax system.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS223594.

Topics:
Money and consumer rights > Taxes
Environment and resources > Climate and energy
Previous

DB 17: Replacement payments and imputation credits under share-lending arrangements, or

“Rules for deductions and credits in share-lending arrangements”

Next

DB 18AA: Square metre rate method, or

“Calculating deductions for mixed-use space using area measurements”

Part D Deductions
Specific rules for expenditure types

DB 17BTransfers of emissions units under certain excepted financial arrangements

  1. A person is denied a deduction for an amount of expenditure that relates to the market value of an emissions unit and is incurred 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?).

Notes
  • Section DB 17B: inserted (with effect on 1 April 2018), on , by section 56 of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act 2019 (2019 No 33).