Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Memorandum accounts - Maori authority credit accounts (MACA)

OK 24: Income tax paid satisfying liability for further income tax

You could also call this:

“Income tax payment can cover a Maori authority's further income tax”

You can pay income tax to cover a Maori authority’s further income tax. This only works if the Maori authority keeps a Maori authority credit account in the tax year that matches the income year when the further tax is due. When you pay the income tax to the Commissioner, it counts as if you’ve paid the further income tax on that same day.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519402.

Topics:
Money and consumer rights > Taxes
Māori affairs > Treaty of Waitangi
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OK 23: Further income tax paid satisfying liability for income tax, or

“Māori authorities can use additional tax credits to pay income or provisional tax”

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OP 1: Memorandum accounts of consolidated groups, or

“How tax records work for groups of companies”

Part O Memorandum accounts
Maori authority credit accounts (MACA)

OK 24Income tax paid satisfying liability for further income tax

  1. A Maori authority that is liable for further income tax may choose to satisfy the liability through a payment of income tax.

  2. The liability referred to in subsection (1) must be for an income year corresponding to a tax year in which the Maori authority maintains a Maori authority credit account.

  3. The further income tax is treated as paid on the day the income tax is paid to the Commissioner.

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