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Income Tax Act 2007

Memorandum accounts - Maori authority credit accounts (MACA)

OK 13: MACA payment of other taxes

You could also call this:

“Using overpaid income tax to settle other tax debts for Māori authorities”

If you’re a Māori authority, you might have overpaid income tax. When this happens, you can use that extra money to pay other taxes you owe. This is called a Māori authority debit.

But there are some cases where you can’t use the overpaid tax this way. You can’t use it to pay income tax or provisional tax. You also can’t use overpaid tax from before the 2004-2005 tax year. And if you’ve lost shareholder continuity, you can only use overpaid tax up to the amount of that loss.

When you use overpaid tax to pay other taxes, it’s recorded in a special table. The day you use the money is the day it’s recorded.

There’s one more thing to remember. If the overpaid tax is already covered by section OK 14B, you can’t use it to pay other taxes.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519370.

Topics:
Money and consumer rights > Taxes
Māori affairs > Treaty of Waitangi
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“This provision about tax refunds related to foreign dividends was removed in 2017”

Part O Memorandum accounts
Maori authority credit accounts (MACA)

OK 13MACA payment of other taxes

  1. A Maori authority has a Maori authority debit for an amount of overpaid income tax applied to pay an amount due under the Inland Revenue Acts. Subsection (2) overrides this subsection.

  2. The amount of a debit under subsection (1) does not include an amount of overpaid income tax—

  3. applied to satisfy a liability for income tax or provisional tax; or
    1. paid for a tax year before the 2004–05 tax year; or
      1. that relates to income tax paid before a Maori authority debit arises under section OK 15 when the amount is no more than the amount of the debit for loss of shareholder continuity.

        1. The Maori authority debit in subsection (1) is referred to in table O18: Maori authority debits, row 5 (payment of other taxes). The Maori authority debit in subsection (2)(c) is referred to in table O18: Maori authority debits, row 7 (debit for loss of shareholder continuity).

        2. The debit date is the day the amount is applied.

        3. This section does not apply to an amount that gives rise to a debit under section OK 14B.

        Compare
        Notes
        • Section OK 13(5) heading: added (with effect on 1 April 2008), on , by section 442(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
        • Section OK 13(5): added (with effect on 1 April 2008), on , by section 442(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).