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Income Tax Act 2007

Tax credits paid in cash - Adjustment of net income for family scheme

MB 9: Family scheme income from deposits in main income equalisation accounts

You could also call this:

"Deposits in main income equalisation accounts no longer count as family scheme income"

This section of the law used to be about how money put into main income equalisation accounts affects your family scheme income. However, this part of the law no longer exists. It was removed on 24 February 2016, but the change applies from 1 April 2011. This means that since 1 April 2011, deposits in main income equalisation accounts are not considered when calculating your family scheme income.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3661991.

Topics:
Money and consumer rights > Taxes
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Part MTax credits paid in cash
Adjustment of net income for family scheme

MB 9Family scheme income from deposits in main income equalisation accounts (Repealed)

    Notes
    • Section MB 9: repealed (with effect on 1 April 2011), on , by section 209 of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).