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OZ 6: ASCA redemption of unused investments
or “Tax rules for public trusts and funds buying back special shares”
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“Rules for special tax records during a set timeframe”

You need to know about a special time called the transitional period. This period starts on the first day of your 2011-12 income year and ends on 31 March 2013. During this time, sections OZ 8 to OZ 15 will apply to you, unless the situation requires something different. These sections are part of the rules about memorandum accounts, which are special records used in tax calculations.

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Next up: OZ 7B: Maori authority credit ratios for transitional period

or “How Māori authorities manage tax credits during a transition period”
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Part O Memorandum accounts
Terminating provisions

OZ 7Memorandum accounts in transitional period

  1. Unless the context otherwise requires, sections OZ 8 to OZ 15 apply for a period (the transitional period)—

  2. beginning the first day of a person's 2011–12 income year; and
    1. ending on 31 March 2013.

      Notes
      • Section OZ 7: substituted, on , by section 14 of the Taxation (Budget Measures) Act 2010 (2010 No 27).