Part 1Preliminary provisions
14Earnings as a self-employed person
Earnings as a self-employed person, in relation to any person and any tax year,—
- means A minus B, A being the amount described in subsection (2) and B being the amount described in subsection (3); and
- does not include any earnings as an employee or earnings as a shareholder-employee.
A is the amount of
income (if any)—- that the person derives in the tax year for the purposes of the Income Tax Act 2007; and
- that is dependent on the person's personal exertions.
B is all amounts that the person is allowed as deductions for the purposes of the Income Tax Act 2007 because of the person deriving the income described in subsection (2).
Notes
- Section 14(1): amended, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
- Section 14(2): amended, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
- Section 14(2)(a): amended, on (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
- Section 14(2)(a): amended, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
- Section 14(3): amended, on (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).
- Section 14(3): amended, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).