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TAX FREE INVESTMENTS - Coggle Diagram
TAX FREE INVESTMENTS
Definition:
Section 12T defines a tax free investment as any financial instrument or policy as defined in section 29A that is administered by any person or entity designated by the Minister of Finance by notice in the government Gazette.
Te Minister of Finance shall make regulations prescribing the requirements relating to tax reinvestments
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Excludes
Any capital gain or capital loss in respect of the disposal of the tax free investment from capital gains tax provisions in the act
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Exempts from natural tax
Any amount received by occurred to a natural person or to a deceased of an insolvent estate of a natural person in respect of a tax free investment
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Interest received is not taken into account in determining how much interest of a natural person is free from tax in terms of section 10(1)(i)