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Income Tax Act 2007

Recharacterisation of certain transactions - Interest apportionment on thin capitalisation

FE 9: Elections

You could also call this:

“How to make and notify choices about your tax obligations”

You can make an election or choice under this part of the law by including it in your tax return for the relevant income year. This means you tell the government about your decision when you file your taxes.

If you want to change the date you use to measure something under section FE 8, you can do this after you get a notice from the tax department about your income for that year.

You have two other special choices you can make. One is about the level of control under section FE 27, and the other is to include certain other companies in a New Zealand group under section FE 30. For these choices, you need to tell the tax department separately when you file your tax return for that year.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1516437.

Topics:
Money and consumer rights > Taxes
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Part F Recharacterisation of certain transactions
Interest apportionment on thin capitalisation

FE 9Elections

  1. An election or choice under this subpart is made by providing a return of income for the relevant income year.

  2. A choice of measurement date under section FE 8 may be changed after a notice of assessment for an income year is received from the Commissioner.

  3. A choice of control threshold under section FE 27, or an election to include certain other companies in a New Zealand group under section FE 30, is made by providing notice to the Commissioner with the return of income for the relevant income year.

Compare
Notes
  • Section FE 9(3): amended (with effect on 1 April 2008), on , by section 103 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
  • Section FE 9 list of defined terms control: repealed, on , by section 594 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
  • Section FE 9 list of defined terms excess debt entity: repealed, on (with effect on 30 March 2017), by section 98 of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).