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Tax Administration Act 1994

Assessments

101: Assessment of further income tax

You could also call this:

"Checking if a company owes more income tax"

Illustration for Tax Administration Act 1994

The Commissioner can assess how much further income tax a company needs to pay. You can check if the assessment is correct by looking at sections OB 65 to OB 67 of the Income Tax Act 2007. The company has to pay the further income tax unless they can prove the assessment is wrong. The Commissioner follows rules when making an assessment. These rules are like the ones for income tax. You can challenge the assessment if you think it is wrong. If you want to challenge the assessment, you follow the same steps as for income tax. You can look at Part 8A of this Act to see how to do this. The rules for challenging an assessment are the same for further income tax as for income tax.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM354627.

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"How much Non-Resident Withholding Tax you must pay"

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101B: Assessment of imputation additional tax, or

"When a company owes extra tax, the Commissioner works out how much they must pay."

Part 6Assessments

101Assessment of further income tax

  1. The Commissioner may, in respect of any company liable to pay further income tax under sections OB 65 to OB 67 of the Income Tax Act 2007, make an assessment of the amount of the further income tax that in the Commissioner's judgment ought to be imposed, and the company shall be liable to pay the further income tax so assessed except so far as the company establishes in proceedings challenging the assessment that the assessment is excessive or that the company is not chargeable with the further income tax.

  2. Sections 109, 111, and 113 shall apply, so far as may be, with respect to every assessment made under this section as if—

  3. in sections 111 and 113, the term taxpayer included a company which is chargeable with further income tax; and
    1. in section 113, the term tax already assessed included the further income tax already assessed under this section.

      1. An assessment made under this section shall be subject to challenge in the same manner as an assessment of income tax and Part 8A of this Act shall apply, so far as may be, to a challenge to an assessment made under this section as if the terms income tax and tax in that Part included the further income tax for which a company may be chargeable under sections OB 65 to OB 67 of the Income Tax Act 2007.

      Compare
      • 1976 No 65 s 394L(7), (8), (9)
      Notes
      • Section 101(1): amended, 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).
      • Section 101(1): amended, on , by section 24(1) of the Tax Administration Amendment Act (No 2) 1996 (1996 No 56).
      • Section 101(1): amended, on (applying to 1997–98 and subsequent income years), by section 483(3) of the Taxation (Core Provisions) Act 1996 (1996 No 67).
      • Section 101(2)(a): amended (with effect on 1 October 1996), on , by section 168 of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 (2014 No 39).
      • Section 101(3): replaced, on , by section 77 of the Taxation (Remedial Provisions) Act 1997 (1997 No 74).
      • Section 101(3): amended, 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).