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Income Tax Act 2007

Memorandum accounts - Maori authority credit accounts (MACA)

OK 10: MACA distribution

You could also call this:

“Māori authority distributions create equal debits for attached credits”

When a Maori authority gives out a distribution, they get a Maori authority debit. This debit is equal to the amount of Maori authority credit that’s attached to the distribution. You can find this debit listed in [table O18: Maori authority debits, row 2 (distribution)]. The date of the debit is the same day that the distribution is made.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519360.

Topics:
Money and consumer rights > Taxes
Māori affairs > Treaty of Waitangi
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OK 9: MACA reversal of tax advantage arrangement, or

“Correction of wrongly credited tax for Māori authorities”

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OK 11: MACA transfer of excess tax to other Maori authorities, or

“Transfer of excess tax between Māori authorities”

Part O Memorandum accounts
Maori authority credit accounts (MACA)

OK 10MACA distribution

  1. A Maori authority has a Maori authority debit for the amount of a Maori authority credit attached to a distribution made by the Maori authority.

  2. The Maori authority debit in subsection (1) is referred to in table O18: Maori authority debits, row 2 (distribution).

  3. The debit date is the day the distribution is made.

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