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Tax Administration Act 1994

Information, record-keeping, and returns - Statements, notices, and certificates

30D: Statements to shareholders when certain assets held by companies

You could also call this:

"Companies must tell shareholders about certain assets and tax information"

Illustration for Tax Administration Act 1994

You need to know about a rule that applies to companies. This rule is for when a company has certain assets and some sections of the Income Tax Act 2007 apply to it. The company must give its shareholders some information. You will get information to help you work out a deduction for the income year. This information includes your share of a net asset balance and your share of an outstanding profit balance for the income year. You will also get other necessary information for the income year, which relates to subpart DG of the Income Tax Act 2007.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM5476902.

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Part 3Information, record-keeping, and returns
Statements, notices, and certificates

30DStatements to shareholders when certain assets held by companies

  1. This section applies for an income year to a company to which 1 or more of sections DG 11 to DG 19 of the Income Tax Act 2007 applies.

  2. The company must provide the following information, as applicable, to every shareholder of the company for the income year to enable the shareholder to calculate the amount of a deduction that may be allowed for the income year in relation to an asset to which subpart DG of that Act applies:

  3. their share of a net asset balance for the income year:
    1. their share of an outstanding profit balance for the income year:
      1. other necessary information for the income year.

        Notes
        • Section 30D: inserted (with effect on 1 April 2013), on , by section 110 of the Taxation (Livestock Valuation, Assets Expenditure, and Remedial Matters) Act 2013 (2013 No 52).