Plain language law
New Zealand law explained for everyone
LB 1B: Treatment of tax credits of certain companies with shareholders who are employees
or “How companies can share tax credits with shareholders who are also employees”
or “How companies can share tax credits with shareholders who are also employees”
You could also call this:
“You can get a credit for provisional tax payments made by you or on your behalf”
You can get a tax credit for the amount of provisional tax you pay in a tax year. This applies whether you pay the provisional tax yourself or if someone else (like an agent) pays it for you. If an agent pays your provisional tax, they need to be responsible for paying it on your behalf. The tax credit you get will be equal to the amount of provisional tax paid for that tax year.
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Next up: LB 3: Tax credits for resident withholding tax
or “Getting a tax credit for tax withheld on your income”