The taxation implications of company law reform
A discussion document
December 1993
Annex 5.7: Winding Up References
Income Tax Act
- Section 2 - Definition of terms "proprietary company" and "winding up".
- Section 4A(1)(c),(h),(3),(4),(10) - Exclusion from term "dividends".
- Section 8B - Definition of term "shareholder decision-making rights" in interpretation section for measurement of voting and market value interests provisions.
- Section 12(1)(f) - Commissioner's power to demand special returns and make special assessments.
- Section 65A - Transitional provision for certain superannuation contributions (this section would appear to be spent and therefore could probably be repealed outright).
- Section 183(1),(2) - Refund from income equalisation reserve account of company on winding up.
- Section 195(2) - Interest on debentures issued in the substitution for shares.
- Section 197(2) - Distribution of trading stock to shareholders.
- Section 197G(5) - Primary producer co-operative companies.
- Section 197H(7) - Co-operative dairy, milk marketing, and pig marketing companies.
- Section 218(9) - Profits or gains from sale of mining shares by companies.
- Section 226(10A) - Interpretation section in trust regime.
- Section 234(3) - Interpretation section in Maori Authority provisions.
- Section 245A(1) - Definition of term "accounting period" in interpretation section for international regime.
- Section 245C(4)(e) - Calculation of control interest in controlled foreign company regime.
- Section 245D(2)(e) - Calculation of income interest in controlled foreign company regime.
- Section 276(8),(10)(a),(b) - Liability of directors and shareholders for tax payable by company left with insufficient assets.
- Section 309(2)(a) - Interpretation section in non-resident withholding tax regime.
- Section 327P(6) - Record retention requirements for resident withholding tax regime.
- Section 393K(2) - Taxation on election to become qualifying company.
- Section 393N(b)(ii) - Loss attributing qualifying companies definition.
- Section 394M(4) - Limits on refunds of tax.
- Section 394ZZF(5) - Dividend withholding payment regime.
- Section 428(4) - Retention of business records requirements.
- Section 428A(2) - Record retention requirements where return information is transmitted electronically.
GST Act
- Section 75(4) - Record retention requirements.