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Tax Administration Act 1994

Binding rulings - Product rulings

91FC: Applying for a product ruling

You could also call this:

"Asking for a ruling on a tax law for a product or arrangement"

Illustration for Tax Administration Act 1994

You can apply to the Commissioner for a product ruling on how a taxation law applies. You can apply for a ruling on an arrangement or on a product and its arrangement. You can also apply for a ruling on how a law applies to you. You must intend to be part of the proposed arrangement or promote it. A consumer is someone who is part of the arrangement but not the applicant. You must apply in the prescribed form and follow the disclosure requirements of section 91FD. You can withdraw your application at any time by noticing the Commissioner.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM354119.

Topics:
Money and consumer rights > Taxes
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91FB: Application of a product ruling, or

"How to use a product ruling to help with your taxes"

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91FD: Disclosure requirements, or

"Telling the Commissioner everything they need to know when asking for a product ruling"

Part 5ABinding rulings
Product rulings

91FCApplying for a product ruling

  1. A person, in their own right or on behalf of a person who is yet to come into legal existence, may apply to the Commissioner for a product ruling on how a taxation law applies, or would apply—

  2. to an arrangement; or
    1. to the consumer of the product that is the subject of the ruling, and to the arrangement; or
      1. to the person.

        1. A person making an application under subsection (1) or a prospective person, as the case may be, must intend to be a party to the proposed arrangement or a promoter of the proposed arrangement.

        2. For the purpose of subsection (1)(b), a consumer is a party to the arrangement who is not the applicant.

        3. An application for a product ruling—

        4. must be made in the form prescribed by the Commissioner; and
          1. must comply with the disclosure requirements of section 91FD.

            1. An applicant for a product ruling may at any time withdraw the application by notice to the Commissioner.

            Notes
            • Section 91FC: inserted (with effect on 1 April 1995), on , by section 10 of the Tax Administration Amendment Act 1995 (1995 No 24).
            • Section 91FC(1): replaced, on (applying on and after 20 May 1999), by section 92(1) of the Taxation (Accrual Rules and Other Remedial Matters) Act 1999 (1999 No 59).
            • Section 91FC(1)(b): amended, on , by section 66 of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
            • Section 91FC(1)(c): inserted, on , by section 66 of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
            • Section 91FC(1A): inserted, on (applying on and after 20 May 1999), by section 92(1) of the Taxation (Accrual Rules and Other Remedial Matters) Act 1999 (1999 No 59).
            • Section 91FC(1A): amended, on , by section 163 of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).
            • Section 91FC(1B): inserted, on (applying on and after 20 May 1999), by section 92(1) of the Taxation (Accrual Rules and Other Remedial Matters) Act 1999 (1999 No 59).
            • Section 91FC(3): amended, 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).