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Tax Administration Act 1994

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

32JB: RWT-exempt status for limited partnerships

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"What is RWT-exempt status for limited partnerships?"

Illustration for Tax Administration Act 1994

You get RWT-exempt status if you are a limited partnership described in section RE 31 of the Income Tax Act 2007. The Commissioner gives you this status. You have this status as a limited partnership. You cannot have RWT-exempt status as a limited partner in the limited partnership. A notice to the limited partnership is treated as served on the partnership and its partners. This is for the RWT rules and RWT-exempt status.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1366888.

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

32JBRWT-exempt status for limited partnerships

  1. When the Commissioner provides RWT-exempt status to a limited partnership described in section RE 31 of the Income Tax Act 2007,—

  2. the limited partnership has the RWT-exempt status; and
    1. no limited partner of the limited partnership may have RWT-exempt status in their capacity as a limited partner of the limited partnership.

      1. For the purposes of the RWT rules and RWT-exempt status, a notice to the limited partnership is treated as served on the limited partnership and on each of its partners.

      Notes
      • Section 32JB: inserted (with effect on 1 April 2008), on , by section 163(1) (and see section 163(2) for application) of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).