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Goods and Services Tax Act 1985

Returns and payment of tax - Calculation of tax payable: deductions, apportionment, other adjustments

20G: Treatment of supplies of certain assets

You could also call this:

"What happens with tax when you sell certain assets"

Illustration for Goods and Services Tax Act 1985

When you look at the law about goods and services tax, you will see a part called section 20G. This section is about how to treat supplies of certain assets. You need to know that section 20G was repealed, which means it is no longer part of the law, as of 1 April 2024. This change was made by the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023, which you can find on the legislation.govt.nz website.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM5499529.

Topics:
Money and consumer rights > Taxes
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20F: Election that sections 11A(1)(q) and (r) and 20C apply, or

"Choosing to apply special tax rules when supplying financial services"

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20H: Goods and services tax incurred in making financial services for raising funds, or

"Getting a refund for tax on services that help raise money"

Part 3Returns and payment of tax
Calculation of tax payable: deductions, apportionment, other adjustments

20GTreatment of supplies of certain assets (Repealed)

    Notes
    • Section 20G: repealed, on , by section 138(1) (and see section 138(2) for application) of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).