Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Timing and quantifying rules - Income equalisation schemes - Refunds: automatic

EH 9: Income does not include excess deposit

You could also call this:

“Refunds from income equalisation schemes are not counted as income”

When you get a refund under [section EH 8], you don’t need to count it as income. The law says this type of refund is not included in your income. This rule is part of something called an income equalisation scheme. You can find more details about this in [section CX 51].

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1514839.

Topics:
Money and consumer rights > Taxes
Previous

EH 8: Refund of excess deposit, or

“Getting money back if you deposit too much”

Next

EH 10: Refund at end of 5 years, or

“Refunds for unclaimed money in your income equalisation account after 5 years”

Part E Timing and quantifying rules
Income equalisation schemes: Refunds: automatic

EH 9Income does not include excess deposit

  1. A refund under section EH 8 is excluded income under section CX 51 (Income equalisation schemes).

Compare