Notice Type
Departmental
Notice of Product Ruling 1. This is a notice of a product ruling made under section 91f of the Tax Administration Act 1994. 2. Product ruling No. 97/70 was issued on 8 September 1997. It relates to the Bank of New Zealand's ``Cash Draw Saver'' account, and the application of sections CD 3, CD 5, and the definitions of ``interest'' and ``money lent'' in section OB 1 of the Income Tax Act 1994 as amended by the Taxation (Core Provisions) Act 1996. It is essentially the same as product ruling No. 96/11, but takes into account the coming into force of the Taxation (Core Provisions) Act 1996, with effect from the 1997/98 income year. 3. A copy of the ruling may be obtained by writing to the Assistant General Manager (Adjudication & Rulings), National Office, Inland Revenue, P.O. Box 2198, Wellington. JEFFREY TYLER, Assistant General Manager (Adjudication & Rulings).
Publication Date
18 Sep 1997

Notice Number

1997-go6481

Page Number

3096