ULC Issues Log

Below is a log of the issues raised to date showing the current status of the issue and any outcome.

Section / Provision Income Tax Act 2007	Sub No.	Date Received	Description of issue	Status
BC 5, BC7 view more...	147	18/11/10	The company has a breach of shareholding during the current year. The part-year.....	Finalised See Outcome
CB 30, CB 26, EQ 1(1) view more...	117	16/07/09	A number of provisions in the Income Tax Act 2004 are subject to limitations or qualifications found.....	Finalised See Outcome
CB 33, DV19, HE view more...	127		A submission received from Professor Prebble considers that section CB 33 of the 2007 Act.....	Finalised See Outcome
CC 9(1) and (2), YA 1 and Schedule 51 view more...	80	18/08/08	The new definitions of 'natural resource' and 'land'...	Finalised See Outcome
CD 33 view more...	98	18/02/09	The related party capital gain restriction in the Income Tax Act 2004 could apply...	Finalised See Outcome
CD 39(9)(b) view more...	122	14/10/09	Dividends with nil RWT or NRWT to pay could be included...	Finalised See Outcome
CE 1, YA 1 view more...	121	02/11/09	Do amounts listed in CE 1 [amounts derived in connection with emplo...	Finalised See Outcome
CE 1(1)(a) and (c), RD 5 (1) view more...	134	12/03/10	Under the Income Tax Act 1994 where an individual received accommodation in........	Finalised See Outcome
CX 17(4), CX 16(4) view more...	105	30/04/09	Section CX 16(4)(a) of the Income Tax Act 2004 had \"; and\" replaced with \":\".....	Finalised See Outcome
DB 9(1), HG 9(3) view more...	141	13/05/10	Section DB 9(1) of the ITA07 reduces any interest deduction available to.....	Finalised See Outcome
DC 13(5)(d), DC 12(5)(d) view more...	91	15/10/08	There appears to be an unintended change in the employee share...	Finalised See Outcome
DT 9, DM 1(6) view more...	131	22/10/09	TSection DT 9 of the Income Tax Act 2007 ("the 2007 Act") limits the amount of the...	Finalised See Outcome
DU 12(3)(b) view more...	69	07/07/08	The submission relates to the section DN 3(3) (b) in the ITA 1994...	Finalised See Outcome
EA 4(1), DF 5 view more...	144	25/05/10	Clarification is required of when a deduction may be taken for a redundancy payment...	Finalised See Outcome
Subpart EC view more...	150	25/05/10	Subpart EC of the 2004 and 2007 Act have omitted to contain the "business...	Finalised See Outcome
EE 21, EG 11 view more...	62	10/04/08	The number of months to which the formula relates is completely altered in 2004...	Finalised See Outcome
EE 60(3)(b), EE 51(3)(b), OB 1 view more...	110	16/06/09	Wording in the 2004 and 2007 Acts for the theoretical \"total deductions\" does...	Finalised See Outcome
EG 1 view more...	146	9/09/10	Can election in section EG 1 be applied to separate Income sources - e.g. from...	Finalised See Outcome
EJ 16, EJ 14 view more...	119	30/09/09	Section EJ 16 of the Income Tax Act 2007 limits the amount of the deduction available for...	Finalised See Outcome
EX 1(1)(b) view more...	111	19/06/09	Tax Acts (ITA) are different to the definition included in the 1994 ITA.....	Finalised See Outcome
EX 21(26) view more...	95	22/01/09	Section EX21(26) of the Income Tax Act 2007 ("ITA 2007") outlines the branch equivalent ("BE").	Finalised See Outcome
EX 32(1)(f), EX 33D(1)(d) view more...	106	15/06/09	Under section EX 33D(1)(d) of the Income Tax Act (ITA) 2004, a person's rights in a FIF....	Finalised See Outcome
EX 52, EX 44c(1) view more...	104	17/06/09	S EX 52(2) appears to calculate FDR income on a line by line basis rather than a pooled basis....	Finalised See Outcome
EW 31(4), DB 11, DB 9 view more...	136	9/04/10	Section EW 31(4) of the Income Tax Act 2007 provides that a deduction for negative....	Finalised See Outcome
FE 6(1A) view more...	70	05/06/08	It is not clear in the 2007 Act that under a resident\'s restricted amalgamation (formerly...	Finalised See Outcome
FE 12(1), FG 4(1) view more...	139	24/04/10	Section FE 13(1) of the Income Tax Act 2007 (the Act) allows a natural person...	Finalised See Outcome
FE 36, FG 8C view more...	86	10/09/08	This submission set out what we view as an unintended legislative change in section...	Finalised See Outcome
FE 41(1), FG 2(3-5) view more...	154	11/08/11	There appears to be an unintended change concerning section FE 41(1) which impacts ...	Pending
FM 12(2), HB 2(1)(d) view more...	118	12/08/09	Company A and Company X are both qualifying companies and members of a....	Finalised See Outcome
FO 18, FE 10(2) (4) view more...	132	27/11/09	This submission sets out what we view as an unintended change in section FO 18....	Finalised See Outcome
GB 1(3), YA 1, OB 1 (definition of "dividend") view more...	88	18/09/08	This submission address what we consider is an unintended change in section GB 1(3)...	Finalised See Outcome
GB 25(3)(b), GD 5(a) view more...	128	4/12/09	Section GB 25(3)(b) of ITA2007 has narrower meaning than equivalents in...	Finalised See Outcome
GC 5, GD 10 view more...	143	17/05/10	The meaning of \"a property\" in section GC 5 of the Income Tax Act 2007...	Finalised See Outcome
HA 1(1)(a), HA 11(4), view more...	112	06/03/09	This submission sets out what we view as unintended changes to the qualifying...	Finalised See Outcome
HA 7(3)(c)(ii), OB 3(3)(d)(i) view more...	75	08/07/08	Section HA 7(3)(c)(ii) of the 2007 Act refers to "... the group who derived beneficiary income from...	Finalised See Outcome
HA 11(5)(b), OB 3(3A)(b) view more...	89	15/10/08	Section HA 11(5)(b) of the Income Tax Act 2007 does not seem to require that the dividends...	Finalised See Outcome
HA 21, HG 11(3) view more...	101	13/02/09	Section HA 21 states that in an income year in which a non-QC company becomes...	Finalised See Outcome
HC 6(1), OB 1 view more...	100	30/03/09	Section HC 6(1) of the ITA 2007 requires income to be "paid" to a beneficiary within...	Finalised See Outcome
HC 16 view more...	148	6/09/10	Present ordering rules of HC 16 may have a retrospective effect in that a taxpayer...	Finalised See Outcome
HC 24(2)(a), HH 4(2)(a) view more...	115	21/07/09	Section HC 24(2) seems to attempt to deny a trustee a tax credit arising under Parts L...	Finalised See Outcome
HC 25, HH4(3) view more...	151	11/07/2011	Section HC 25 taxes a non-resident trustee on a foreign sourced amount whether it is...	Finalised See Outcome
HC 27 and 28, HH 1(1) view more...	99	30/03/09	Section HH 1(1) of the ITA 2004 contained an exception for settlements of nominal...	Finalised See Outcome
HM 25 view more...	142	16/03/10	This submission has been submitted as there is a potential unintended legislative...	Finalised See Outcome
HR 8, FC 24 view more...	94	17/11/08	This submission relates to the election not to be a transitional resident under section HR 8...	Finalised See Outcome
IC 3(3), IG 1(5)(a)(ii) view more...	123	6/10/09	It appears that in the ITA 2007 the test measuring common voting interests may have been...	Finalised See Outcome
IC 12, IG 2(6) view more...	124	16/10/09	This submission sets out what we view as an unintended law change resulting from the...	Finalised See Outcome
IP 5, IG 2(5) view more...	130	25/11/09	This submission sets out what we view as an unintended law change resulting from the...	Finalised See Outcome
IQ 1 and IQ 2, IA 2(5), IA 7, IA 7(5) view more...	90	15/10/08	The ability to carry forward an attributed CFC net loss is in doubt as the general rules...	Finalised See Outcome
LE 1, LE 5, LE 8 view more...	125	9/11/09	Restrictions on imputation credits attached to trust distributions sourced...	Finalised See Outcome
LF 8(1), LD 9(1) view more...	114	07/07/09	LF 8(1) of the ITA 2007 does not allow for FDP credits to be refundable to tax exempt...	Pending
LP 4, LE 2(5) view more...	85	09/09/08	Section LP 4 of the Income Tax Act 2007 which deals with continuity rules for...	Finalised See Outcome
LP 10(1), LE 4(2) view more...	116	16/07/09	Section LP 10(1) of the Income Tax Act 2007 (ITA '07) provides the formula for the calculation...	Finalised See Outcome
LJ 1(2), LC 1(1) view more...	137	24/03/10	"LC 1(1) [Credit for tax paid overseas] Where a person who is resident in New Zealand derives...	Finalised See Outcome
LJ 4, LJ 5(1), LJ 5(4) view more...	133	15/10/09	LJ 5(1) should not be just for calculating NZ tax on foreign income...	Finalised See Outcome
LJ 5(5) and 5(6), LC14(4) view more...	65	03/06/08	The formula for calculating a person's notional income tax liability in...	Finalised See Outcome
MB 4, KD 1(g) view more...	97	10/08/08	An adjustment is required to be made to a taxpayers family scheme income...	Finalised See Outcome
ME 14(6)(b)(i) view more...	77	16/07/08	Section ME 14(6)(b)(i) ITA 2004: An equivalent to section ME 14(6)(b)(i) does not seems...	Finalised See Outcome
s24P view more...	71	05/06/08	Inconsistency between s NC 15(3) of the Income Tax Act 2004 and the listed corresponding...	Finalised See Outcome
OB 1(2)(a)(i), ME 1(2)(a) view more...	63	14/05/08	This submission is that apart from the exception for Australian resident companies in...	Finalised See Outcome
OB 6, ME 41(1)(ad) view more...	113	14/07/09	A transfer of an amount in a tax pooling account of a company taxpayer no longer results in...	Finalised See Outcome
OB 13, OB 71, ME 9B view more...	87	19/06/08	Sections OB 13 and OB 71 of the Income Tax Act 2007 ('2007 Act") arising the redraft of...	Finalised See Outcome
OB 32(2)(b), ME 5(1)(e)(iii) view more...	129	18/11/09	Section OB 32(2)(b) of the Income Tax Act 2007 (the 2007 Act) states...	Finalised See Outcome
OB 41, ME 5(1)(i), ME 5(2)(h) view more...	96	20/03/09	Under the rewritten legislation it appears the debit to a company\'s ICA on...	Finalised See Outcome
OB 67, ME 9(8) view more...	138	12/04/10	If further income tax (FIT) is payable under s OB 65 or s OB 66 of the Income Tax Act 2007...	Finalised See Outcome
OD 16(3), MI 5(1)(e) view more...	82	4/08/08	This submission is made in respect of an unintended law change resulting from the...	Finalised See Outcome
OE 8, MF 5(7), (8) view more...	126	23/12/09	Section OE 8 produces a different outcome from that given by the corresponding...	Finalised See Outcome
OZ 5(1)(d), MJ 5(1) view more...	149	14/12/10	Section should read \"the amount paid on subscription for a unit is greater than the...	Finalised See Outcome
RA 15(2)(c), NH 3(1) view more...	64	28/05/08	Foreign dividend payments (FDPs) appear to fall within the concession extending...	Finalised See Outcome
RD 2(1)(e) view more...	83	25/08/08	Section RD 2(1) defines "PAYE rules". Subsection 1(e) refers to "sections 15C to 15M...	Finalised See Outcome
RD 3, OB 2 view more...	145	13/07/10	It appears as though a shareholder-employee that receives a salary with no PAYE...	Finalised See Outcome
RD 3(3) and RD 3(4), OB 2 2(d) view more...	79	25/07/08	Section RD 3(3) and 3(4) of the 2007 Act refer to a person choosing whether an amount paid to...	Finalised See Outcome
RD 4(2), NC 16 view more...	135	06/04/10	Section RD 4(2) of the Income Tax Act 2007 requires an employee to account for and pay...	Finalised See Outcome
RD 8(1)(b)(iii), YA 1 \"agricultural, horticultural, view more...	92	18/11/08	The application of the schedular payment rules to a \"agricultural, horticultural....	Finalised See Outcome
RD 17, NC 2(5) view more...	93	10/12/08	Unintended change in method used to calculate PAYE on \"extra pay\" ...	Finalised See Outcome
RE 2(1), NF 1(2) view more...	78	22/07/08	RWT cannot be deducted from interest paid to non-residents with...	Finalised See Outcome
RE 22, NF 5 view more...	102	24/04/09	Section NF 5 of the 1994 and 2004 Acts contained a \"reasonable grounds\" defence for...	Finalised See Outcome
RF 7 - RF 12, Schedule 5s, NG 2(1) view more...	68	03/07/08	The 2007 Act does not include a corresponding provision to that under the 2004 Act deeming...	Finalised See Outcome
RF 2(5), NG 4 view more...	84	20/08/08	Section RF 2(5) omits the reference to non-literary royalties that was in...	Finalised See Outcome
YA 1, HC 27, HC 7(3) view more...	73	27/06/08	The new definition of settler in section HC 27 results in an unintended change...	Finalised See Outcome
Subpart IP, Subsection IG 2(4) view more...	81	19/08/08	Part-year grouping of losses between companies has been restricted to situations...	Finalised See Outcome
YA 1, OB 1 view more...	74	27/06/08	In comparing the definition of "money lent" in the ITA 2004 with the definition of "money lent"...	Finalised See Outcome
YA 1 employee, (c)(ii) employer, (c)(ii), OB 1 employee, (c)(ii) employer, (c)(ii) view more...	76	15/07/08	In comparing the definition of "money lent" in the ITA 2004 with the definition of "money lent"...	Finalised See Outcome
YA 1, OB 1 view more...	67	04/06/08	Incorrect use of drafting convention in the definition of shares of the same class...	Finalised See Outcome
YA 1 "revenue account property", OB 1 "revenue account property" view more...	108	15/06/09	"revenue account property" means . property in respect of which any amount derived on disposition would be gross ...	Finalised See Outcome
YA 1, Subpart RE view more...	72	27/06/08	Under section RE 3 of the 2007 Act, RWT is still required to be deducted even where the...	Finalised See Outcome
YC 11(2) & (3), OD 5(6) view more...	140	09/04/10	Sections YC 11(2) and (3) of the Income Tax Act 2007 (Sections OD 5(6)(a) and (b) of both...	Finalised See Outcome
YD 1(7), OE 1(5) view more...	66	03/06/08	The circumstances where a Government servant not physically in NZ will be deemed to be...	Finalised See Outcome

Section / Provision Income Tax Act 2004	Sub No.	Date Received	Description of issue	Status
BB 2, LD 7, MB 2, OB1 ("provisional taxpayer") view more...	30	02/08/05	The Income Tax Act 2004's reference to "tax year" in section BB 2(3), section LD 7, subpart...	Finalised See Outcome
CB 5, CB 6, CB 7, CB 8, CB 9, CB 10, OD 8(4) view more...	40	16/09/2005	The taxing provisions of CB make reference to the gross income of a person...	Finalised See Outcome
CB 6(1)(c) and CB 9(1) and (2) view more...	15	26/04/05	The omission of the minor nature clause from CB 6(1)(c) and CB 9(1) ...	Finalised See Outcome
CB 9 view more...	07	16/02/05	In particular land sales and being associated ...	Finalised See Outcome
CB 9(1)(b) view more...	14	20/04/05	Under the 1994 Act (CD1(2)(d)), the test of whether ...	Finalised See Outcome
CB 11(1) view more...	08	18/03/05	An amount that a person derives from disposing of land is income of ...	Finalised See Outcome
CB 11(1) view more...	33	15/08/05	The issue described in submission number 008 also arises in relation...	Finalised See Outcome
CB 11(1)(iv) view more...	38	05/09/05	The last item in the list of Section CB 11(1)(iv)....	Finalised See Outcome
CB 11(1) view more...	48	23/03/06	The omission of the words "to the extent"...	Finalised See Outcome
CB 14(2) view more...	13	18/04/05	ITA2004 states: "...the land that has the dwellinghouse on it. "	Finalised See Outcome
CD 9 view more...	37	05/09/05	The submission sets out an unintended change in section CD 9 of the ...	Finalised See Outcome
CD 14 view more...	03	22/12/04	Section CF 3 1994 Act ...	Finalised See Outcome
CD 17(4) and CD 15(1) view more...	61	06/08/07	The reduction in ASC that results from a treasury stock acquisition ...	Finalised See Outcome
CD 32(15)(b) view more...	18	24/05/05	The provision in the 1994 Act limiting the subscriptions ...	Finalised See Outcome
CD 33 view more...	12	18/04/05	1.s CD 33 does not specify application...	Finalised See Outcome
CD 3-5, CD 27, CF 2(1)(g) view more...	58	21/06/07	The buy-back of shares by a company was, under the 1994 Act, expressly a dividend....	Finalised See Outcome
CG 4 view more...	39	07/09/05	Section CG 4 of the Income Tax Act 2004...	Finalised See Outcome
CE 1 view more...	16	29/04/05	The definition of monetary remuneration...	Finalised See Outcome
CE 2 has been omitted view more...	34	22/08/05	Section CE2 has been omitted....	Finalised See Outcome
CE 2 view more...	45	1/12/05	Section CH 2 of the Income Tax Act 1994...	Finalised See Outcome
CT 5, DT 20, OB 1 view more...	55	26/02/07	Definition of "petroleum mining operations"	Finalised See Outcome
CW 35 view more...	56	04/05/07	Section CW 35 of the 2004 Act and section CB 4(1)(e) of the 1994 Act...	Finalised See Outcome
CZ 6 view more...	60		A UCL resulting from the enactment of ITA 2004	Finalised See Outcome
DB3 view more...	53	06/12/06	The capital limitation rule - section DB 3(1) ITA 2004...	Finalised See Outcome
DB 36 view more...	21	30/06/05	Under the 1994 Act ...	Finalised See Outcome
DC 9 (1)(2)(3)(4) view more...	51	09/08/06	Deductibility of excess monetary remuneration provisions.	Finalised See Outcome
DC 9(2) view more...	36	06/09/05	Section DC 9(2) of the Income Tax Act 2004...	Finalised See Outcome
DE 2(1) view more...	31	11/08/05	Unintended change in DE 2(1). This section...	Finalised See Outcome
DO 4 view more...	09	01/04/05	The new section DO 4 ...	Finalised See Outcome
DO 6(2)c, DO 6(3)c, DP 3(2)c, DP 3(3)c view more...	49	31/03/06	Black hole expenditure. Amortisation of Aquaculture and ....	Finalised See Outcome
DR 2 and EY 46 view more...	23	14/07/05	Section DR 2(4) refers to subsection EY 46(6).....	Finalised See Outcome
ED 1(5) view more...	44	22/11/05	Deducting the cost of worthless...	Finalised See Outcome
EC 48(1)(a) view more...	17	29/04/05	Bloodstock breeding...	Finalised See Outcome
EE 21, EG 11 view more...	62	10/04/08	The number of months to which the formula relates is completely altered in 2004...	Finalised See Outcome
EH 3 view more...	02	26/11/04	Under the 1994 Act a partnership cannot make a deposit to the ...	Finalised See Outcome
EH 37 and EH 81 view more...	06	02/02/05	Unintended change ...	Finalised See Outcome
EI 6 view more...	05	28/01/05	The timeframe ...	Finalised See Outcome
EX 13, EX 31 view more...	54	06/12/06	Partnerships and FIF rules - section EX 31 ITA 2004...	Finalised See Outcome
UFTC and "interest" including definition of "income interest" in section OB 1. EX 15 view more...	57	29/05/07	There are unintended legislative changes arising from the way the "income interest of 10% or greater" test in the Income Tax Act 1994...	Finalised See Outcome
EX 36 view more...	43	19/10/05	Section EX 36(1) "to the extent to which" should be replaced with....	Finalised See Outcome
EY 8 view more...	35	23/08/05	Under the 1994 Act, accidential death...	Finalised See Outcome
EY 8, EY 9, Schedule 22A view more...	59	27/06/07	Section EY 9 of 2004 Act defines "life insurance policy"...	Finalised See Outcome
EZ 35(3), DA 1, DA 2, DA 3 view more...	20	25/05/05	Section EZ 35(3) deems a negative amount arising under a BPA to be a ...	Finalised See Outcome
FC 21 view more...	27	28/05/05	Non Resident Film Renters and Non resident person ....	Finalised See Outcome
FE 5, EE 33 and EE 34 view more...	24	19/07/05	Under the ITA 1994, section FE 5(1) provided that property....	Finalised See Outcome
FE 6(5) and (6) and FE 7(1) and (2) view more...	25	20/07/05	The Income Tax Act 2004's reference to 'tax year' ....	Finalised See Outcome
LD view more...	41	22/09/05	References to "income year" have been replaced with ...	Finalised See Outcome
LE 3 view more...	04	23/12/04	This potential unintended change ...	Finalised See Outcome
LJ 5(5) and 5(6), LC14(4) view more...	65	03/06/08	The formula for calculating a person's notional income tax liability in...	Finalised See Outcome
HH 1(7) view more...	28	29/07/05	The reference to the entire definition of corpus in Section HH 1(7) of the 2004 Act...	Finalised See Outcome
KH 1(1)	29	29/07/05		Withdrawn
NG 1(2) view more...	42	13/10/05	Section NG 1(2) provides that the NRWT rules...	Finalised See Outcome
OB 1 view more...	01	14/10/04	Beneficiary income ...	Finalised See Outcome
OB 1 view more...	10	06/04/05	The ITA 2004 no longer includes, a general definition of "person" ...	Finalised See Outcome
OB 1 'beneficiary income' view more...	11	08/04/05	The amended definition of 'beneficiary income'	Finalised See Outcome
OB 1 view more...	22	12/07/05	"Shares of the same class"	Finalised See Outcome
OB 1 view more...	46	13/03/06	Definition of "market value circumstance" ...	Finalised See Outcome
OB 1 "qualifying trust" view more...	26	21/07/05	The reference in paragraph (a)(ii) of the definition of "qualifying trust" ...	Finalised See Outcome
OB 1(2)(a)(i), ME 1(2)(a) view more...	63	14/05/08	This submission is that apart from the exception for Australian resident companies in subsection...	Finalised See Outcome
OD 5(6F) view more...	32	15/08/05	Section OD 5(6F) of the Income Tax Act 2004....	Finalised See Outcome
Part Y view more...	19	24/05/05	The omission from Part Y of a savings provision ...	Finalised See Outcome
RA 15(2)(c), NH 3(1) view more...	64	28/05/08	Foreign dividend payments (FDPs) appear to fall within the concession extending...	Finalised See Outcome
RF 7 - RF 12, Schedule 5s, NG 2(1) view more...	68	03/07/08	The 2007 Act does not include a corresponding provision to that under the 2004 Act deeming...	Finalised See Outcome
YA 1, OB 1 view more...	67	04/06/08	Incorrect use of drafting convention in the definition of shares of the same class...	Finalised See Outcome
YD 1(7), OE 1(5) view more...	66	03/06/08	The circumstances where a Government servant not physically in NZ will be deemed to be...	Finalised See Outcome

Section / Provision	Sub No.	Date Received	Description of issue	Status
61(1) Tax Administration Act 1994 view more...	47	13/03/06	A possible unintended change results in ...	Finalised See Outcome
24M(5) Tax Administration Act 1994 view more...	107	15/06/09	(5) An exemption certificate must not be altered or be used to cause a person...	Finalised See Outcome

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