Tax Administration Act 1994

Information, record-keeping, and returns - Statements, notices, and certificates - Resident passive income

32F: Calculation of annual gross income when threshold met

You could also call this:

"How to work out your total income for tax when you're part of a company group"

Illustration for Tax Administration Act 1994

When you are part of a group of companies, your annual gross income is calculated by including the total annual gross income of other companies in the group. You also exclude income from transactions between companies in the same group. This is for the purposes of section 32E(2)(i). You do this to work out your annual gross income for tax purposes.

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This page was last updated on 28 November 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1264412.

Topics:

Money and consumer rights > Taxes

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Part 3Information, record-keeping, and returns
Statements, notices, and certificates: Resident passive income

32FCalculation of annual gross income when threshold met

For the purposes of section 32E(2)(i), when the person is part of a group of companies, the person’s annual gross income is determined by—
including the total annual gross income in the tax year of other group companies; and
excluding an amount of assessable income derived by the company or another company in the same group from a transaction or series of related or connected transactions with another company in the group.

Compare

2004 No 35 s NF 9(8), (10)

Notes

Section 32F: inserted, on 1 April 2008 (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).