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EH 1: Income equalisation schemes
or “Deposit schemes to spread income across tax years”
You could also call this:

“Money deposited with the Commissioner goes into a government account”

When you make a deposit with the Commissioner under a scheme mentioned in section EH 1(2), you need to know two important things. First, the money you deposit is considered public money. This means it belongs to everyone, not just you. Second, the Commissioner must put this money into a Crown Bank Account. A Crown Bank Account is a special account that the government uses to keep public money safe.

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Next up: EH 3: Persons to whom main income equalisation scheme applies

or “Who can use the main income equalisation scheme for farmers, fishers, and foresters”
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Part E Timing and quantifying rules
Income equalisation schemes

EH 2Deposits to be paid into Crown Bank Account

  1. Every deposit a person makes with the Commissioner under a scheme referred to in section EH 1(2)—

  2. is public money; and
    1. must be paid into a Crown Bank Account.

      Notes
      • Section EH 2: replaced, on , by section 83 of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).