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Tax Administration Act 1994

Information, record-keeping, and returns - Returns - Fringe benefits

46D: FBT returns: changes in payment periods

You could also call this:

"Changing payment times for company tax returns"

Illustration for Tax Administration Act 1994

You pay income tax on an income year basis under the close company option. If the first day of the income year is not the same as the first day of a quarter, this section applies to you. You must provide a return and pay FBT as if a certain period were a quarter, under section 46B.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1264507.

Topics:
Money and consumer rights > Taxes
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46C: FBT returns for years, or

"Reporting fringe benefits and paying Fringe Benefit Tax each year"

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46E: FBT returns: information for calculations, or

"Information you must give when asking for a custom Fringe Benefit Tax calculation"

Part 3Information, record-keeping, and returns
Returns: Fringe benefits

46DFBT returns: changes in payment periods

  1. This section applies when an employer chooses to pay income tax on an income year basis under the close company option, and the first day of the relevant income year is not the same day as the first day of a quarter.

  2. The employer must provide a return and pay FBT under section 46B, treating the period between the first day of the quarter in which the income year starts and the first day of the income year as if it were a quarter.

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Notes
  • Section 46D: inserted, on (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).