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Tax Administration Act 1994

Information, record-keeping, and returns - Returns - Returns and return dates

38: Returns to annual balance date

You could also call this:

"Doing your tax return at your business's annual end date"

Illustration for Tax Administration Act 1994

You can choose to do your tax return at a different time if you get permission from the Commissioner. This is instead of doing it at the end of March. You do your tax return at the same time you do your annual accounts. You cannot make this choice if you are a multi-rate PIE and you do not use the provisional tax calculation option under section HM 44 of the Income Tax Act 2007. If you make this choice, it will keep going until you change it with the Commissioner's approval.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM351171.

Topics:
Money and consumer rights > Taxes
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37: Dates by which annual returns to be furnished, or

"When to send your annual tax return"

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39: Consequential adjustments on change in balance date, or

"What happens to your tax when you change your balance date"

Part 3Information, record-keeping, and returns
Returns: Returns and return dates

38Returns to annual balance date

  1. Instead of furnishing a tax year return under section 33 on the basis of a corresponding income year that ends on 31 March, a taxpayer (other than an individual referred to in subsection (1C)) may, with the consent of the Commissioner, elect to furnish a return based on a corresponding income year that ends with the date of the annual balance of the taxpayer's accounts.

  2. A multi-rate PIE that does not calculate and pay tax using the provisional tax calculation option under section HM 44 of the Income Tax Act 2007 must not make an election under subsection (1).

  3. The person is an individual whose final account for the tax year is treated under section 22I(1)(b) as an assessment under section 92.

  4. Repealed

  5. Any election made by a taxpayer for the purposes of this section shall continue in force unless and until it is altered by the taxpayer with the prior notified approval of the Commissioner.

Compare
  • 1976 No 65 s 15
Notes
  • Section 38(1): replaced, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
  • Section 38(1): amended, on , by section 37(1) (and see section 37(3) for application) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
  • Section 38(1B): replaced, on (applying for 2010–11 and later income years), by section 622(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
  • Section 38(1C): inserted, on , by section 37(2) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
  • Section 38(2): repealed, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
  • Section 38(3): amended, on , by section 109 of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).