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Tax Administration Act 1994

Interest - Specific provisions

120W: Commissioner's official opinions

You could also call this:

"No interest on tax if you followed the Commissioner's advice"

Illustration for Tax Administration Act 1994

You do not have to pay interest on unpaid tax if you relied on an official opinion from the Commissioner. This applies if the Commissioner gave the opinion on or after the day the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 received the Royal assent, which you can read about on the legislation website. You are protected from paying interest in these circumstances.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3233228.

Topics:
Money and consumer rights > Taxes
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Part 7Interest
Specific provisions

120WCommissioner's official opinions

  1. A taxpayer that, but for this section, is liable to pay interest on unpaid tax to the Commissioner, is not liable to pay that interest to the extent to which it arises because they relied on a Commissioner's official opinion.

  2. Subsection (1) applies if the relevant Commissioner's official opinion was given by the Commissioner on or after the day on which the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 receives the Royal assent.

Notes
  • Section 120W: inserted, on , by section 169 of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).