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Income Tax Act 2007

Timing and quantifying rules - Income equalisation schemes - Refunds: on application

EH 12: Application for refund by person, trustee of estate, Official Assignee, or liquidator

You could also call this:

“How to ask for your money back from your income equalisation account”

You or someone acting on your behalf can ask the Commissioner for a refund of some or all of the money in your main income equalisation account. If you want to do this yourself, you can apply under section EH 13, EH 15, or EH 17. If you have passed away, the trustee of your estate can apply under section EH 19. If you’re bankrupt, the Official Assignee in charge of your estate can apply under section EH 23. If your business is being closed down, the liquidator can apply under section EH 25.

When you or someone else applies for a refund, they need to explain why they’re asking for it and say how much money they want back. It’s important to give these details so the Commissioner can understand your request.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1514846.

Topics:
Money and consumer rights > Taxes
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“Refund from income equalisation scheme becomes income after 5 years”

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“How to request a refund from your main income equalisation account”

Part E Timing and quantifying rules
Income equalisation schemes: Refunds: on application

EH 12Application for refund by person, trustee of estate, Official Assignee, or liquidator

  1. The following may apply to the Commissioner for a refund of some or all of the amount in a person’s main income equalisation account:

  2. the person may apply under section EH 13, EH 15, or EH 17:
    1. the trustee of the person’s estate may apply under section EH 19:
      1. the Official Assignee having charge of the person’s estate may apply under section EH 23:
        1. the liquidator appointed for the person may apply under section EH 25.

          1. An application for a refund must—

            1. state the grounds on which it is made; and
              1. state the amount applied for.

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                Notes
                • Section EH 12(2)(a): repealed, on , by section 17(1) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).
                • Section EH 12 list of defined terms apply: inserted, on , by section 17(2) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).