Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Timing and quantifying rules - Income equalisation schemes - Tax credit

EH 33: Amount of tax credit

You could also call this:

“How much tax credit you can get for paying more extra tax than you save”

You can get a tax credit under section EH 30. The amount of this tax credit is the difference between two things: the extra tax and the tax saving. These are both described in section EH 32(c). If the extra tax is more than the tax saving, you’ll get the difference as a tax credit. This means you’ll only get a tax credit if you end up paying more extra tax than you save.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1514892.

Topics:
Money and consumer rights > Taxes
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Part E Timing and quantifying rules
Income equalisation schemes: Tax credit

EH 33Amount of tax credit

  1. The amount of a tax credit to which a person is entitled under section EH 30 is the amount by which the extra tax, as described in section EH 32(c), is more than the tax saving, as described in section EH 32(c).

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