OA 2Memorandum accounts

1. The following accounts are dealt with in this Part:

2. an imputation credit account, see subparts OB and OP:
5. a branch equivalent tax account, see subpart OE:
6. an available subscribed capital (ASC) account, see subpart OF:
8. a Maori authority credit account, see subpart OK.

9. A memorandum account is an account listed in subsection (1) that provides a record of the credits and debits arising in the account.

10. A memorandum account is maintained for a tax year and each subsequent tax year unless a provision in this Part expressly states otherwise.

11. The credits and debits that arise in a memorandum account are listed in tables in each of the subparts. The tables—

12. state the credits and the debits; and
13. provide the credit dates and the debit dates; and
14. refer to the section that fully defines the credits and debits, and their credit dates and debit dates.

15. The Commissioner may issue a determination under section 104B of the Tax Administration Act 1994 adjusting the amount of a credit or debit, or a credit date or debit date recorded in a memorandum account if the Commissioner considers the amount or date is not correct. The determination may be reviewed in challenge proceedings under Part 8A of that Act.

Compare

• 2004 No 35 ss ME 1(1), ME 3(1), ME 10(1), (1A)–(1C), ME 15, ME 17(1), ME 20, ME 21(1), ME 22(1), ME 25, ME 26(2), ME 40, MF 1(1), MF 3(1), MF 6, MF 7(1), MF 11(1), MF 12(1), MG 2(1), MG 3(1), MG 12, MG 13(1), MG 14(1), MG 15(1), MI 2(1), (4), MI 3(1), MI 14, MI 17(1), MI 18(1), MJ 1(1), MJ 3(1), MJ 8, MK 1(1), MK 3(1), MK 9

Notes

• Section OA 2(1)(b): repealed, on 1 April 2017, by section 176(1) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
• Section OA 2(1)(c): repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 81(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).
• Section OA 2(1)(d): amended, on 1 July 2012 (applying for income years beginning on or after that date), by section 81(2) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).
• Section OA 2(1)(f): repealed, on 1 July 2010, by section 372(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
• Section OA 2(3): amended, on 29 March 2018 (with effect on 1 April 2008), by section 167 of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).
• Section OA 2 list of defined terms FDP account: repealed, on 1 April 2017, by section 176(2) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
• Section OA 2 list of defined terms policyholder credit account: repealed, on 1 April 2017, by section 176(2) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).