New Zealand Acts

WHAKATŌHEA CLAIMS SETTLEMENT ACT 2024 - SECT 202

202 Election by trustees to be Māori authority

1 If the trustees of Te Tāwharau o Te Whakatōhea elect under section HF 11 of the Income Tax Act 2007 to become a Māori authority, to the extent that the undistributed charitable amount is distributed in an income year, that distribution will be—

a) exempt income if the distribution is applied for a charitable purpose; or

b) a taxable Māori authority distribution.

2 If this section applies, the amounts must be disregarded for the purposes of section HF 8 of the Income Tax Act 2007 .