If you get an adjustment under sections GC 7 to GC 10, it does not change your obligation to withhold tax under Part R, except when section GC 11(2) applies. You still have to follow the general collection rules for the amount, unless section GC 11(2) says otherwise. This rule is related to sections GC 7 to GC 10 and Part R, and also to section GC 11(2).

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1517110.

This page was last updated on 29 January 2026 — View changes

Topics:

Money and consumer rights > Taxes

GC 11: Applications for matching treatment, or

"Asking to use the same income amount as someone else in a transfer pricing arrangement"

GC 13: Calculation of arm’s length amounts, or

"Working out a fair price for something you buy or sell"

Part GAvoidance and non-market transactions
Market value substituted

GC 12Effect on person's withholding obligations

An adjustment under any of sections GC 7 to GC 10 has no effect on an obligation of the taxpayer to withhold under Part R (General collection rules) in relation to the amount other than to the extent to which section GC 11(2) applies.

Notes

Section GC 12: substituted (with effect on 30 June 2009), on 6 October 2009, by section 249(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).