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Tax Administration Act 1994

Foreign account information-sharing agreements - Foreign account information-sharing agreements generally

185R: Foreign account information-sharing agreements: anti-avoidance

You could also call this:

"Stopping people from avoiding rules about sharing foreign account information"

Illustration for Tax Administration Act 1994

You enter an arrangement to avoid a requirement under this Part. The arrangement has no effect on your requirements. You have the requirements the Commissioner thinks are appropriate without the arrangement.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7330412.

Topics:
Money and consumer rights > Taxes
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Part 11BForeign account information-sharing agreements
Foreign account information-sharing agreements generally

185RForeign account information-sharing agreements: anti-avoidance

  1. If a main purpose of a person in entering an arrangement is to avoid a requirement under this Part, the arrangement is treated as having no effect in relation to the person’s requirements under this Part.

  2. The person has the requirements under this Part that the Commissioner considers to be appropriate in the absence of the arrangement.

Notes
  • Section 185R: inserted, on (applying for arrangements affecting the requirements of a person under this Part for a reporting period ending after 31 March 2017), by section 28(1) of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).