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Income Tax Act 2007

Tax credits paid in cash - Tax credits for KiwiSaver schemes and complying superannuation funds

MK 2B: Taxable income

You could also call this:

"What is your taxable income?"

Illustration for Income Tax Act 2007

When you are working out your taxable income for a tax credit year, you use your taxable income from the corresponding tax year. Your corresponding tax year is usually the tax year that ends during the tax credit year, but only if you have filed your tax return for that year on time or you do not need to file a tax return for that year under section 33 of the Tax Administration Act 1994. If you have not filed your tax return on time and you are required to file one, your corresponding tax year is the one before the current year.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1454133.

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Topics:
Money and consumer rights > Taxes
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MK 2: Eligibility requirements, or

"Who can get a tax credit paid in cash?"

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"Getting money back from the government for your KiwiSaver or superannuation fund"

Part MTax credits paid in cash
Tax credits for KiwiSaver schemes and complying superannuation funds

MK 2BTaxable income

  1. For the purposes of section MK 2(1)(cc), a person’s taxable income for the tax credit year is their taxable income for the corresponding tax year.

  2. In this section, corresponding tax year means—

  3. the tax year (the current year) that ends during the tax credit year if the person—
    1. has filed their return of income for that tax year on or before the end of the tax credit year; or
      1. is not required to file a return of income for that tax year under section 33 of the Tax Administration Act 1994; or
      2. in any other case, the tax year preceding the current year.

        Notes
        • Section MK 2B: inserted, on , by section 11(1) (and see section 11(2) for application) of the Taxation (Budget Measures) Act 2025 (2025 No 26).