New Zealand Acts

TAXATION (WORKING FOR FAMILIES) ACT 2004 - SECT 11

11 Definitions

1 This section amends section OB 1 .

2 The definition of child tax credit is replaced by the following:
"child tax credit" , means the component of the subpart KD credit calculated under section KD 2(4) (Calculation of subpart KD credit).

3 In the definition of eligible period, in paragraph (d) , day is replaced by day; and.

4 In the definition of eligible period, after paragraph (d) , the following is added:

e) the composition of a subpart KD credit changes, other than on the first, or as applicable, the last day

.

5 The definition of family credit abatement is replaced by the following:
"family credit abatement" , means the component of the subpart KD credit calculated under section KD 2(6) (Calculation of subpart KD credit).

6 The definition of family support credit is replaced by the following:
"family support credit" , means the component of the subpart KD credit calculated under section KD 2(3) (Calculation of subpart KD credit).

7 The definition of family tax credit is replaced by the following:
"family tax credit" , means a credit allowed by section KD 3 (Calculation of family tax credit).

8 In the definition of income-tested benefit, paragraphs (b) and (c) are omitted.

9 After the definition of interest, the following is inserted:
"interim instalment" means the weekly or fortnightly interim instalment elected in an application made in accordance with section KD 5(2) (Credit of tax by instalments).

10 The definition of parental tax credit is replaced by the following:
"parental tax credit" , in subpart KD , means the component of the subpart KD credit calculated under section KD 2(5) (Calculation of subpart KD credit).

11 After the definition of specified base cost for 1983 income year property, the following is inserted:
"specified benefit" , in section KD 7(2B) , means an income-tested benefit, or an orphan's benefit, or an unsupported child's benefit paid or payable under the Social Security Act 1964 .

12 Subsections (1) to (11) come into force on 1 April 2005.