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OK 17: MACA tax advantage arrangement
or “Rules for Māori authorities trying to gain unfair tax benefits”
You could also call this:

“What happens to the remaining balance when a Māori authority closes its credit account”

When you’re a Maori authority and you have money in your Maori authority credit account, you need to know what happens if you stop being a Maori authority. If you have any money left in this account when you stop being a Maori authority, it’s called a ‘final balance’. This final balance becomes a debit in your account.

You can find information about this debit in a special table called ‘O18: Maori authority debits’. It’s listed in row 10 of that table under the name ‘final balance’.

The date of this debit is important. It’s the same day that you stop being a Maori authority. This is when the money in your credit account becomes a debit.

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Next up: OK 19: Maori authority credits attached to distributions

or “Māori authorities can add tax credits to their distributions”
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Part O Memorandum accounts
Maori authority credit accounts (MACA)

OK 18MACA final balance

  1. A Maori authority has a Maori authority debit for a credit balance in the Maori authority credit account when the Maori authority stops being a Maori authority.

  2. The Maori authority debit in subsection (1) is referred to in table O18: Maori authority debits, row 10 (final balance).

  3. The debit date is day the Maori authority stops being a Maori authority.

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