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Tax Administration Act 1994

Assessments

93C: Foreign tax credits: Commissioner’s power to amend assessments

You could also call this:

"When You Get a Tax Credit from Overseas, the Commissioner Can Fix Your Tax"

Illustration for Tax Administration Act 1994

You are entitled to a tax credit under section LK 1 of the Income Tax Act 2007. The Commissioner can amend your assessment if you ask them within 4 years after the end of the income year. The Commissioner must change your assessment to show the correct tax credit amount.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1264860.

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Money and consumer rights > Taxes
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Part 6Assessments

93CForeign tax credits: Commissioner’s power to amend assessments

  1. This section applies when a person is entitled to a tax credit under section LK 1 of the Income Tax Act 2007 and—

  2. the amount of the credit cannot be determined before the time by which the person must file a return of income for an income year; and
    1. the person asks the Commissioner for an amended assessment within 4 years after the end of the income year.

      1. The Commissioner must amend the assessment for the income year to reflect the amount of the credit.

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      Notes
      • Section 93C: 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).