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New Zealand law explained for everyone

Income Tax Act 2007

General collection rules - Terminating provisions

RZ 1: Certain elections to become person with provisional tax liability

You could also call this:

“Choosing to pay provisional tax for non-standard tax years”

If you have a non-standard income year and filed a tax return between 10 October 2000 and when the Taxation (Relief, Refunds, and Miscellaneous Provisions) Act 2002 became law, this rule might apply to you. It’s for tax returns from the 1998-99 income year or later that were filed based on section MB 3(a) of the Income Tax Act 2004 (which was section MB 2A(1)(a)(i) before that Act was made).

You can choose to be a person who has to pay provisional tax for the income year of that tax return. To do this, you must have already paid more than $2,500 in provisional tax. This payment needs to have been made on or before the date of instalment F for the income year that matches the tax year of your return.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1520549.

Topics:
Money and consumer rights > Taxes
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“Getting money back from your tax pooling account”

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RZ 2: Amount of provisional tax based on 1997–98 or earlier tax year, or

“Calculating provisional tax for superannuitants based on pre-1998 income”

Part R General collection rules
Terminating provisions

RZ 1Certain elections to become person with provisional tax liability

  1. This section applies when a person has a non-standard income year and has, between 10 October 2000 and the date on which the Taxation (Relief, Refunds, and Miscellaneous Provisions) Act 2002 received Royal asset, filed a return of income for the 1998–99 income year or a later income year on the basis that section MB 3(a) of the Income Tax Act 2004 (section MB 2A(1)(a)(i) before the enactment of that Act) applied.

  2. The person may choose to be a person with a provisional tax liability for the income year for which the return was filed if they have paid provisional tax of more than $2,500 on or before the date of instalment F for the income year corresponding to the tax year for which the return was filed.

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