Part LTax credits and other credits
General rules for tax credits
LA 10Meaning of tax credit
An amount is a tax credit of a person if it is their tax credit under a provision in this Part.
Compare
- 2004 No 35 s BC 9
Income Tax Act 2007
Tax credits and other credits - General rules for tax credits
LA 10: Meaning of tax credit
" Tax credits are amounts that reduce the tax you owe "
A tax credit is an amount of money that you can use to reduce the tax you owe. You have a tax credit if a rule in this part of the law says you do. This means that if you find a rule in this section that gives you a tax credit, you can use it to lower your tax bill.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1517911.