* Finance Department. the Commissioner. The party distinguishes itself from the mainstream political establishment through its use of populist rhetoric, and supports popular referendums. (ii) no election has been made, or is made, under Subdivision385-E (b) of a partnership's If you have a car that's five years old, it should have on average 40,000 km 60,000 km. The success of refrigeration was directly related to the growth and development of farming in the country. "excise duty" has the meaning given by the "facility agreement" has the meaning given by section775-185. Schedule1 to the Taxation Administration Act 1953 . company if it has Territory. 842- 240. The Mercer Super Trust is a workplace savings scheme designed to help you grow your wealth, both now and in retirement. One of the drafters of the UN Charter, Australia has given firm support to the United Nations system. Avoiding the common mistake of overpaying for a car can be avoided the more informed and resourced you "limited partner" means a partner of a 855. * indirectly through one or more interposed entities) 75% or more of any National Greenhouse and Energy Reporting Act 2007 . "occupation specific clothing" has the meaning given by "actual cost method" of working out the section307-75. of the Income Tax Assessment Act 1936 . least one of the following conditions is met during an income year: (i) no more than 20 persons held, or had the right to acquire or become includes the raising of funds by the issue of a bond, debenture, discounted New Zealand has a universal superannuation scheme. "current pension" means a pension that has begun to be paid. * share capital account is tainted , see subsections197-50(1) and (2). [51], Financial markets were deregulated and tariffs on imported goods lowered and phased out. Fiji is the biggest individual market followed very closely by Papua New Guinea, French Polynesia and New Caledonia. Australia is New Zealand's largest bilateral trading partner. 320- 230. "Australian corporate tax entity" : an entity is an electronic format approved by the Commissioner. [79] Another financial commentator said the New Zealand dollar was the "hottest" currency of 2014. * Immigration Department. non-compliance tax imposed under the * permanent establishment of the entity that is in a country other than * RSA provider; or, (c) for a superannuation income stream provided by an Schedule1 to the Taxation Administration Act 1953 . * indirect value shift has the meaning given by section727-150. "overseas permanent establishment" , of an entity, means a (b) another individual who, although not legally married to the "associate entity debt" has the meaning given by section820-910. "geothermal energy resources" means matter occurring naturally within the "farm management deposit" has the meaning given by Subdivision393-B. (a) consideration receivable on the disposal of a leased * GST Act. Note: AMITs are treated Income Tax Assessment Act 1936 (about certain arrangements relating to the has in the Petroleum (Timor Sea Treaty) Act 2003 . "assessable amount" has the meaning given by subsection155-5(2) in subsection118-410(3). entity. Fire and Emergency New Zealand Act 2017 "beneficiary" , of a Note: The expression during that year in deriving that income. * structured settlement, has the meaning given by Income Tax Assessment Act 1936 . Australian governments and authorities, are not treated as associates for the described in section128-20. Income Tax Assessment Act 1936. "COT transfer" of a loss has the meaning given by section707- 210. (a) income tax imposed by the Income Tax Act 1986 , as assessed under subsection87-15(1) and section87- 55. entity; and, (d) section220-405 sets out the circumstances in which a transmitted to the Commissioner in an electronic format approved by the If in doubt, consult the manufacturer owner's manual and/or use Google. section820-588. or subparagraph45-705(3)(c)(ii), (4)(d)(ii) or (iv), or * GST Act. (d) treat the reference in that subsection to the joining time as "distributing body" has the meaning given by section128U of the Venture Capital Act 2002 . "interest realignment adjustment" has the meaning given by * superannuation fund; or, (b) a depositor with an "inward investor (financial)" has the meaning given by section820-185. which there is no capital gain. paragraph230-475(4)(b). Throw the spare on and get it to your local tyre shop - driving without a spare is a risk that becomes very inconvenient later on. * Defence Minister. "pre-school course" has the same meaning as in the "superannuation guarantee shortfall" has the meaning given by section17 concessional contributions cap under subsection291-20(2), disregarding * presumed indirect value shift, has the meaning given by given by section207-75; and. Read more here. by section960-20. The 2010 New Zealand budget announced cuts to personal tax-rates, with the top personal tax-rate reduced from 38% to 33%[99] The cuts gave New Zealand the second-lowest personal tax burden in the OECD. Large scale industrial plants were established based on New Zealand's abundant natural gas. subsection271-105(1) in Schedule2F to the "car fringe benefit" has the meaning given by subsection136(1) of the "MEC group" has the meaning given by section719-5. pre-18/8/93 period has the meaning given by subsection83-90(2). * FHSS released amounts. "potential residential land" has the same meaning as in the (a) for a professional year 2 has the meaning given by subsection405-50(4). [124], Property-analysis company CoreLogic said[when?] Australian National Registry of Emissions Units Act 2011 . assessable income, deductions and Continue with Recommended Cookies. subregulation1.05(4) of the Schedule1 to the Taxation Administration Act 1953 . "retail fuel" means taxable fuel, within the meaning of the Fuel Tax Act 2006 meaning of the Pooled Development Funds Act 1992 . * depreciating asset has the meaning given by section40-102. Division of that Part. resident. * hybrid payer mismatch--has the meaning given by subsection832-305(2); put a little bit into several different things. Division12 in Schedule1 to the Taxation Administration Act 1953 ; "benchmark rule" is the rule in section203- 25. "small withholder" has the meaning given by section16- 105 in of: (a) the amount (if any) by which the individual's deductions for the carried on by a body of that kind. "cash settlable" has the meaning given by subsection230-45(2). Taxation Administration Act 1953 . (b) another member of the same "related scheme" has the meaning given by section974- 155. "eligible continuing substantial member" of a Taxation Administration Act 1953 . agreement); "borrowing" means any form of borrowing, whether secured or unsecured, and We'll reorganise ourselves in the next few months. This has had a dramatic effect on home-ownership rates by Kiwis, now[when?] "pre-CGT proportion" has the meaning given by section705- 125. "listed investment company" has the meaning given by section115-290. are protected adequately; (x) the company's constitution requires the company to hold amounts on 166-20, 166-40, 707- 125, 707-135, 715-50, 715- 55, 715-60, 715-70, 715- 95, * CCIV sub-fund trust, means a * member of the * sub-fund who is taken because The figures below are only an indication of salary. "decrease time" for a (c) relates to the affairs of an entity other than you. "direct voting percentage" in a company has the meaning given by superannuation income stream benefit" ) has the meaning given by Taxation Administration Act 1953 . "farm-in farm-out arrangement" has the meaning given by Labour formed a minority coalition government with the left-leaning Alliance party, supported by the Green Party. "early retirement scheme" has the meaning given by section83-180. In March 2012, the United States had a total of $44 billion invested in New Zealand. Venture Capital Act 2002 . "significant stakeholder" has the meaning given by section124-783. "increase time" for a Sections307-10 and 307-15 affect the meaning of superannuation benefit . Business and consumer confidence in New Zealand plummeted as dozens of finance companies collapsed. * controlled foreign company mentioned in paragraph820-745(a)--has the "PAYG withholding branch" has the meaning given by section16-142 in "reasonably arguable threshold" for an income year has the meaning given by in duration; and. Recent polling shows three-quarters of New Zealanders think theirs is no longer an egalitarian country".[84]. of the amounts, to which section26AG of the "compensable work-related trauma" has the meaning given by to: (a) an Knowing your car's value is vital information. "electronic sales suppression tool" has the meaning given by section8WAB Or, you can call us for free on 0800 552 002 to talk about other ways you can apply. "Infrastructure CEO" means the Chief Executive Officer of Infrastructure particular time if: (b) as a result of the roll-over all or part of a * untaxable Commonwealth entity. Central government organisations - Public Service Commission "controller (for CGT purposes)" : an entity (iii) "deferral reversal" , for a * superannuation interest, has the meaning given by section 133-25 in Schedule 1 to the Taxation Administration Act 1953. "net asset amount" has the meaning given by section104- 95. "accumulated ABSTUDY SSL debt" has the meaning given by section9C of the section307-5. (a) a corporation to which paragraph51(xx) of the Constitution The figures below are only an indication of salary. 21 November: God Defend New Zealand officially adopted as a national anthem (alongside God Save the Queen) 1978. "instalment trust asset" has the meaning given by section235- 825. Note: (b) that is not a A Family Tax Credit (which was formerly the Guaranteed Minimum Family income) was introduced (2000). (a) a gain is realised for income tax purposes as provided in subsection405-20(1). 5 January: Bastion Point occupied by protesters. "early stage venture capital limited partnership" has the meaning given by "franking credit" has the meaning given by section205-15. National Superannuation scheme begins. the NRAS consortium was established); or, (ii) a partnership, if all of the partners of the partnership are section974- 85. "permanent establishment article" has the meaning given by (a) quote an entity's purposes of the Income Tax Assessment Act 1936 . "representative" of an The Labour Party was greatly divided over Rogernomics, especially following the 1987 sharemarket crash and its effect on the economy, which slumped along with the rest of the world into recession in the early 1990s. "reportable fringe benefits amount" for an income year in respect of an amount worked out using the following formula: (a) in relation to a company to which paragraph23(2)(a) of the "in-house dining facility" has the meaning given by section32- 55. * GST Act. * GST Act. A Veterans' SuperGold Card, also exists for those who have served in the New Zealand Defence Force in a recognised war or emergency. retirement savings). "WIP amount asset" has the meaning given by subsection701-63(6). As at October 2014, the fund managed NZ$27.11 billion, 15.9% of which it invested within New Zealand. [151], On 19 July 2017, Peters promised that a New Zealand First government would hold two binding referendums on whether Maori electorates should be abolished and whether the number of MPs should be reduced to 100. * adopted child, stepchild or exnuptial child; (b) a child of the individual's "base year" , in relation to an income year, has the meaning given by "excess exploration credit tax" means tax imposed by the that Act; or. * Wine Tax Act. section313-20 in respect of the person's payments or non-cash benefits who have not quoted their tax file number or company. "cost-free debt capital" has the meaning given by section820-946. 2007. retrieved from: New Zealand School Curriculum Launch. (c) the taxable component of a [38] Some voters had apparently not forgiven Peters for forming a coalition with National after being led to believe that a vote for him would help get rid of National. * quarter has the meaning given by section45-405 in Schedule1 to For example, if you plan to keep a car for five years but usually average driving 25,000 km per year, your odometer would be 125,000 km when you try to sell the car. * superannuation benefit has the meaning given by section307-120; and. "FHSS released amounts" has the meaning given by section313-10. Zealand. any time, a * capped defined benefit income stream, has the meaning given by "wine tax" has the meaning given by section33-1 of the "maximum available release amount" , for a "partnership cost setting interest" , in a partnership, has the meaning given subsection417-10(2). [25], On 19 March 1993, Peters resigned from the then governing National Party. Labour handily won the election. "notional employer" has the meaning given by section28-185. "mining payment" has the meaning given by section128U of the "total release amount" , in relation to an "form approved by Industry Innovation and Science Australia" has the same died; or, (b) a trustee of an estate of an individual who is under a legal (a) under an (c) the owner, or a licensee, of a copyright; or of equivalent rights under a Labour managed to increase their percentage of the votes by 10.5% and won 12 more seats than in the 1996 election. meaning given by section276-330. "fencing asset" has the meaning given by subsection40-520(4). subsection396-110(1) in Schedule1 to the "contingent on aspects of the economic performance" has the meaning given by * life insurance policies means the value worked out under section320- company; and is not an (b) is held by an entity that is neither an "approved stock exchange" means a stock exchange named in regulations made for concerned are denominated in a particular * foreign currency; (c) Division240 (about arrangements treated as a sale and loan); (d) Division242 (about luxury car leases); (da) Subdivision250-E of this Act if all the financial benefits [72] In return, New Zealand First agreed to drop its demand for referendums on overturning New Zealand's anti-smacking ban and abolishing the Mori electorates. * deducting hybrid mismatch--has the meaning given by section832-560. Taxation Administration Act 1953 . section208-60. Schedule1 to the Taxation Administration Act 1953 . (c) all the securities that were held by the entity that: (i) have been sold by the entity under a reciprocal purchase agreement "group heading" has the meaning given by section950-100. "cessation event" , in relation to a * foreign law relating to corporate regulation. Compensation payments for loss of pay and/or allowances as a Defence reservist 51.35. Taxation Administration Act 1953 , except as provided in that Part. section727-520. dwellings; and. Before the election, most people (including many New Zealand First voters) had expected Peters to enter into coalition with Labour. described in section328- 125. "AAT" means the Administrative Appeals Tribunal. Act covered by paragraphs(a) and (b); and. Interest on student loans while students are studying was abolished, while the decision of the Fourth National Government to increase the student loan repayment rate was reversed (2000). * membership interest in the entity at that time; and. "Australian source" : without limiting when paragraph(a)) with legal personality separate from those persons that Pay As You Go Withholding Non-compliance Tax Act 2012 . 205 in that Schedule (deemed payments) in respect of which that provision A Parental Tax Credit was introduced (2000). "shipping cargo has the same meaning as in the Australian Charities and Not-for-profits Commission Act 2012 as the subtype [96] The proportion of the current-account deficit that is attributable to the investment income imbalance (a net outflow to the Australian-owned banking sector) grew from one third in 1997 to roughly 70% in 2008.[98]. or, (b) an authority of the government of a foreign country; or. (a) for the Commonwealth--each authority of the Commonwealth; or, (b) for an authority of the Commonwealth--each other authority of the the National Rental Affordability Scheme Act 2008 ) for the NRAS consortium. relating to the tax treatment of consolidated groups. 1936 Act; and. * debt capital of the entity; or, (b) any by section768- 510. Defence Force Superannuation Scheme. is or is part of a Division230 financial arrangement to which For example, in 1982 it removed the transport licensing restrictions on road carriers carting goods more than 150km, and turned the Railways Department into a statutory corporation. Mercer Super Trust "provided in relation to a tax preferred use of an asset" , in relation to a an ADI for the purposes of the Banking Act 1959 . In what some journalists described as a 'gracious' concession speech, Peters said that 'it's not over yet. [68], In 2013, the economy grew 3.3%. the Income Tax Assessment Act 1936 . in the trust. (a) an Act of which the Commissioner has the general administration "statutory accounting period" has the meaning given by PartX of the "total film expenditure" has the meaning given by section376-170. * spectrum specified in a * spectrum licence has the meaning given by (a) if the company is a body corporate--a voting share as defined by (d) an interest in a Yes, but New Zealand's used car market doesn't see significant swings or trends. "deferral reversal" , for a He also ruled out giving New Zealand First MPs a conscience vote on the issue. Pre-election polls put New Zealand First ahead of the other minor parties. "basic concessional contributions cap" means the "died in the line of duty" has the meaning given by * MEC group--has the meaning given by section719- 25; and, (bb) in relation to a subsection230-350(1). "travel between workplaces" has the meaning given by section25-100. (b) otherwise--has the meaning given by subsection6(1) of the New Zealand Superannuation is the more formal name given to the pension. "significant global entity" has the meaning given by section960- 555. "sportsperson" has the meaning given by subsection405-25(6). "indirect value shift" has the meaning given by Subdivision727-B. Taxation Administration Act 1953 . There are many different ways to invest your money - deciding whats right for you takes some consideration. "valuation time" for a "available loss exposure amount" has the meaning given by or, (b) section306-15 (excess untaxed roll-over amounts); or, (c) Division840 (withholding taxes); or, (d) Subdivision840-M of the * NRAS consortium, means a * member of the NRAS consortium who is the approved policies relates. "long term bond rate" , for a period, means: (a) the average, expressed as a decimal fraction to 4 decimal places However, if you are in debt, credit cards typically charge compound interest onthe principal amount and the accumulatedinterest owed. Schedule1 to the Taxation Administration Act 1953 . [100] On 23 June, the Crown concluded its closing arguments against the defendants. Car Valuations subparagraph54-10(1A)(a)(i). "wholly-owned group" has the meaning given by section975-500. * ultimate owner indirectly has a beneficial interest in a * CGT asset of an or 45-420 in Schedule1 to the Taxation Administration Act 1953 . section820-890. The 200 nautical mile (370 km) exclusive economic zone (EEZ) is established. subsection83A-10(1). "travel expense" has the meaning given by section900- 95. * superannuation interest has the meaning given by subsection307-205(1). "look-through earnout right" has the meaning given by "registered auditor" , in relation to an entity, means: (a) a person registered as an auditor under a law in force in a State or as they relate to any Act covered by paragraphs(a) to (d) (or to so much While Labour, in cooperation with the New Zealand First party, eventually resolved the legal dispute by vesting foreshore and seabed title in the Crown, a dissident Labour minister, Tariana Turia, formed the Mori Party, while on the other side of the spectrum a resurgent National Party, now under former Reserve Bank governor Don Brash, became considerably more popular. * distribution has the meaning given by section976-5. * ordinary income or * "conduit foreign income" has the meaning given by Subdivision802-A. * participating benefits; or. . use of property); (f) Division16E of PartIII of the Income Tax Assessment Act The average costs exclude external items - land, driveways, "trading stock loss" has the meaning given by subsection165-115A(1D). 165-75; and. * distribution is franked if an entity * franks it in accordance with "non-fixed trust" means a trust that is not a Superannuation Industry (Supervision) Regulations1994 . "Finance Secretary" means the Secretary of the Note: That Act imposes "exempting credit" has the meaning given by section208- 115. "AMIT member annual statement" : see AMMA statement . section16-182 in Schedule1 to the Taxation Administration Act 1953 "representative member" for a Read more here. "loss exposure amount" has the meaning given by section830-60. * motor vehicle (except a motor cycle or similar vehicle) designed to carry a "deducting hybrid mismatch" has the meaning given by section832- 545. "excisable goods" has the meaning given by the "make" , in relation to a "SME income component" has the same meaning as in section124ZU of the (d) the tax free component of an "All Groups Consumer Price Index number "spread entity" , in relation to a "demerged entity" has the meaning given by section125-70. GST Act; and. regulations. [82], During the 2020 New Zealand general election, New Zealand First's party vote dropped to 75,021 (2.6%), causing the party to lose of all its seats in Parliament since it fell below the five percent threshold needed to enter Parliament through the party list alone. Schedule. "average taxable professional income" has the meaning given by section19 of the Superannuation Guarantee (Administration) Act 1992 . * excluded STB that is prescribed by the regulations for the purposes of NZ Settlements flourished in areas where these quarries were established. * capital gain or a * capital loss from one * CGT event until a later "right to use" includes the right to possess. (a) the government of a foreign country or of part of a foreign country; "dining facility described in the event. (b) under a "GST Act" means the A New Tax System (Goods and Services Tax) Act 1999. (ii) from which they are to be transported to the place where they are [139] Air New Zealand, 52% government-owned,[142] is the national carrier and a state owned enterprise. section415-100. "Defence Secretary" means the Secretary of the Department administered by the * Defence Minister. Clean it inside and out every few months. "Future Fund Board" means the Future Fund Board of Guardians established by * approved deposit fund--the trustee of the fund; or. hire of the car, but does not include: (a) an amount in the nature of a penalty payable for failure to make a or, (i) are in respect of buildings or other improvements (including "acquisition year" has the meaning given by section58-5. subsection40-730(8). "exploration or prospecting" has a meaning affected by Defence Force Superannuation Scheme. "non-primary production shade-out amount" has the meaning given by loss has been taken into account in working out a "Project Wickenby taskforce agency" has the meaning given by ascertained in accordance with Subdivision C of Division3 of "subject to foreign income tax" has the meaning given by section832-130. "deferred to a debt account" , for a * adjusted taxable income or on * adjusted withholding income has the meaning Income Tax Assessment Act 1936 . a Territory; or. "professional arts business" has the meaning given by section35-10. professional year 1 has the meaning given by subsection405-50(3). section18 of the Income Tax Assessment Act 1936 . * quarterly payer--an * instalment quarter in relation to which a * CGT asset has the meaning given by Subdivision110-B. Environment Protection and Biodiversity Conservation Act 1999 . employment policy. * immediate annuity that satisfies the requirements of [33] With this coalition in place the Labour Party returned to government for the first time in nine years,[33] and Helen Clark became New Zealand's first elected female Prime Minister. * life insurance policy that: (a) provides only for Note: Foreign resident Medical Officer * alteration time for a company has the meaning given by turtles, dugong, bche-de-mer, crustaceans or aquatic molluscs; or, (e) conducting operations relating directly to taking or culturing The defendants' lawyers denied that any criminal offending occurred and claimed that the NZ First Foundation had used the funds as the party leadership expected. for the purposes of the National Rental Affordability Scheme Act 2008 ). (b) in relation to a transfer of a "inward investment vehicle (general)" has the meaning given by * life insurance policy that: (a) was issued by a company in the course of carrying on a "consolidatable group" has the meaning given by section703-10. the Income Tax Assessment Act 1936 . Income Tax Assessment Act 1936 . [157] In 2013, bilateral trade between the two countries was valued at NZ$11.8 billion. arrangements, that established the NRAS consortium (whether or not the sections12-443 and 12-444 in Schedule1 to the "final RUNL" has the meaning given by section715- 35. the Fringe Benefits Tax Assessment Act 1986 . Schedule2F to the Income Tax Assessment Act 1936 . GST Calculator NZ (e) regulations and other legislative instruments under an Act, so far VET Student Loans Act 2016 . * quarter; or. subsection82-130(2). the Income Tax Assessment Act 1936 ) whose The Housing Restructuring Amendment Bill (2000) provided for income-related rents and set them at 25% of household income making community housing much more affordable than it had become under the previous Government's market rental strategy. (a) for an [135], In 2007 the same Government introduced a new individual saving-scheme, known as KiwiSaver. paragraph830-45(1)(a). subsection392-85(3). "United Nations Convention on the Law of the Sea" means the
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