Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698830435679.pdf (New Zealand)
2010/99 Income Tax (Social Assistance Suspensory Loans) Amendment Order 2010 Anand Satyanand, Governor-General Order in Council At Wellington this 26th day of April 2010 Present: His Excellency the Governor-General in Council Pursuant to section EW 45 of the Income Tax Act 2007, His Excel- lency the Governor-General, acting on the advice and with the con- sent of the Executive Council, makes the following order.
Contents 1 2 3 4 Title Commencement Principal order amended Schedule amended Page 2 2 2 2 1 cl 1 Income Tax (Social Assistance Suspensory Loans) Amendment Order 2010 2010/99 1 2 3 4 Order Title This order is the Income Tax (Social Assistance Suspensory Loans) Amendment Order 2010.

Commencement This order comes into force on 1 July 2010.

Principal order amended This order amends the Income Tax (Social Assistance Suspen- sory Loans) Order 1995.
Schedule amended The Schedule is amended by inserting the following clause after clause 1: “1A Any suspensory loan made by the Housing New Zealand Cor- poration under the KiwiSaver first home deposit subsidy pro- gramme and designated as a KiwiSaver first home deposit sub- sidy loan by the Housing New Zealand Corporation.” Rebecca Kitteridge, Clerk of the Executive Council.

Explanatory note This note is not part of the order, but is intended to indicate its general effect.
This order, which comes into force on 1 July 2010, amends the In- come Tax (Social Assistance Suspensory Loans) Order 1995 to in- clude suspensory loans under the KiwiSaver first home deposit sub- sidy programme (announced in the May 2005 Budget) as social as- sistance suspensory loans for the purpose of section EW 45 of the Income Tax Act 2007.
Under subsection (4) of that section, a person is treated as having paid an amount owing under a suspensory loan on the date on which they are released from the obligation to pay it.

2 2010/99 Income Tax (Social Assistance Suspensory Loans) Amendment Order 2010 Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 29 April 2010.

This order is administered by the Inland Revenue Department.
12 Wellington, New Zealand: Published under the authority of the New Zealand Government—2010 3