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Income Tax Act 2007

General collection rules - Refunds

RM 1: What this subpart does

You could also call this:

“This section outlines rules for tax refunds and their usage”

This part of the law explains what you can do if you’ve paid too much tax. It sets out the rules for getting a refund and how you can use that refund.

The law covers different types of people and groups who might get a refund. These include companies that pay dividends, Maori authorities, qualifying companies, and some types of investment funds.

For each of these groups, the law tells you how much of a refund you can get and what you’re allowed to do with it. It makes sure that refunds are given out fairly and used properly.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1520413.

Topics:
Money and consumer rights > Taxes
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Part R General collection rules
Refunds

RM 1What this subpart does

  1. This subpart establishes and measures a person’s entitlement to a refund for an overpayment under this Part or another Part of this Act, how the amount of the refund may be used, and the limits placed on the amount and use of a refund for—

  2. an imputation credit account (ICA) company:
      1. a Maori authority:
          1. a qualifying company:
            1. certain unit trusts and group investment funds.

              Notes
              • Section RM 1(b): repealed (with effect on 1 April 2017), on , by section 164(1) of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).
              • Section RM 1(d): repealed, on , by section 281(1) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
              • Section RM 1 list of defined terms company: repealed (with effect on 1 April 2017), on , by section 164(2) of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).
              • Section RM 1 list of defined terms foreign dividend: repealed (with effect on 1 April 2017), on , by section 164(2) of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).
              • Section RM 1 list of defined terms PCA person: repealed, on , by section 281(2) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).