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Income Tax Act 2007

Memorandum accounts - Terminating provisions

OZ 7: Memorandum accounts in transitional period

You could also call this:

“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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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1632268.

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Money and consumer rights > Taxes
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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).