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Tax Administration Act 1994

Third-party providers - Tax pooling intermediaries

124U: Applications to establish tax pooling accounts

You could also call this:

"Setting up a tax pooling account with a helper"

Illustration for Tax Administration Act 1994

You want to set up a tax pooling account. To do this, an intermediary must hold the account in their name. They must also protect the personal information and payment details of the people using the account. The intermediary keeps a record of how much each taxpayer has contributed to the account. You can find out when a tax pooling account ends by looking at section 124X. The account continues until it is wound up under this section.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1253874.

Topics:
Money and consumer rights > Taxes
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124T: Role of Commissioner, or

"The Commissioner is not responsible for problems with tax pooling accounts."

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124V: Fitness of applicants, or

"Who can apply to be a tax pooling intermediary?"

Part 7BThird-party providers
Tax pooling intermediaries

124UApplications to establish tax pooling accounts

  1. In order to establish and maintain a tax pooling account, an intermediary must—

  2. hold the account in their name; and
    1. operate systems to protect the personal information and payment details that are obtained in the course of running the tax pooling account; and
      1. record the balance in the tax pooling account contributed by each taxpayer.

        1. A tax pooling account continues until it is wound up under section 124X.

        Compare
        Notes
        • Section 124U: replaced, as section 15Q, on , by section 598(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
        • Section 124U: renumbered, on , by section 9(2) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
        • Section 124U(2): amended, on , by section 113 of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).