CZ 23BEmployee benefits for North Island flooding events: exempt income

1. Income derived by an employee from an employer is exempt income to the extent given by subsection (2) if the income—

2. would be assessable income in the absence of this section; and
3. is provided by the employer for the purpose of relief of employees from the adverse effects of a North Island flooding event; and
4. is derived in the period of 8 weeks beginning on the first day of the relevant North Island flooding event; and
5. does not replace a PAYE income payment; and
6. does not depend on the seniority of the employee; and
7. is available to another employee, who is not an associated person of the employer and is or was immediately before a North Island flooding event in full-time employment with the employer, if the employee is an associated person of the employer; and
8. is treated by the employer as being exempt income for the employee.

9. Income satisfying subsection (1) is exempt income to the extent to which the income is—

10. accommodation:
11. less than or equal to $5,000 in total, if the income is in a form other than accommodation.

Notes

• Section CZ 23B: inserted (with effect on 8 January 2023), on 31 March 2023, by section 32(1) (and see section 32(2) for application) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).