Tax Administration Act 1994

Information, record-keeping, and returns - Returns - Returns and return dates

42: Returns by joint venturers, partners, and partnerships

You could also call this:

"How to do tax returns when you share income or expenses with others"

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When you derive income jointly with others or have deductions jointly, this section applies to you. You need to consider if you are a partner in a limited partnership registered under the Limited Partnerships Act 2008 to know how to make a return. If you are in this type of partnership, you and your partners must make a joint return of income. You must include the total amount of income derived by the partners, each partner's share of the income, and a summary of each partner's deductions in the joint return. If you are not in a limited partnership, you will make a separate return of income under section 33, including the income you derived as a partner and your deductions. In other cases, you will make a separate return taking into account your share of the joint income and deductions. You will be separately assessed, which means you will get your own tax assessment. This is how you make returns when you have joint income or deductions with others. You should look at the Income Tax Act 2007 for more information on how to do this.

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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=DLM351328.

Topics:

Money and consumer rights > Taxes

41B: Return by person applying for tax credit on redundancy payment, or

"Apply for a tax refund if you got a redundancy payment"

42B: Returns by look-through companies and owners of interests, or

"Special company tax returns for owners"

Part 3Information, record-keeping, and returns
Returns: Returns and return dates

42Returns by joint venturers, partners, and partnerships

This section applies when 2 or more people derive income jointly or have deductions jointly.
Despite subsection (1), this section does not apply to the income derived by, and the deductions of, an airport operator from activities undertaken as an airport operator.
In the case of partners,—
if the partnership of the partner is a limited partnership registered under the Limited Partnerships Act 2008 or is a partnership that would carry on a business in New Zealand ignoring section HG 2 of the Income Tax Act 2007, then the partners must make a joint return of income that includes—
1. the total amount of income derived by the partners as members of the partnership; and
2. the partners’ partnership shares in the income; and
3. a summary of the deductions of each partner:
there is no joint assessment, but each partner must make a separate return of income under section 33, including the income derived by the partner as a member of the partnership, and the partner’s deductions. Each partner is separately assessed.

In any other case, each person shall make a separate return taking into account that person’s share of the joint income and deductions. Each person is separately assessed.

Notes

Section 42: replaced, on 1 April 2008 (for a person who is not a limited partner of a limited partnership registered under the Limited Partnerships Act 2008, applying for income years starting on and after 1 April 2008), by section 29(1) of the Taxation (Limited Partnerships) Act 2008 (2008 No 2).