| Description of issue |
Section CX 16(4)(a) of the Income Tax Act 2004 had \"; and\"
replaced with \":\". When the section had \"; and\" it meant
that both subparagphs (a) and (b) needed to be satisfied. By
replacing \"; and\" with \":\" means that only one of paragraphs
(a) or (b) need to be satisfied. This error flows through to the
Income Tax Act 2007.
Please indicate if urgency is required and give reasons:
Urgency is required because if the interpretation under the 2004
or 2007 Act is relied upon it could treat some benefits as
dividends, and possibly exempt dividends, instead of Fringe
Benefits as previously. |
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