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Tax Administration Act 1994

Assessments

101B: Assessment of imputation additional tax

You could also call this:

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

Illustration for Tax Administration Act 1994

The Commissioner can make an assessment of the imputation additional tax a company must pay under section OB 72 of the Income Tax Act 2007. You will have to pay this tax unless you can prove the assessment is too high or you do not have to pay it. The Commissioner uses certain rules to make this assessment, and you can challenge it if you think it is wrong. You can challenge the assessment in the same way you would challenge an income tax assessment, and Part 8A of the Tax Administration Act 1994 applies to this challenge.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM354638.

Topics:
Money and consumer rights > Taxes
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Part 6Assessments

101BAssessment of imputation additional tax

  1. The Commissioner may, in respect of any company liable to pay imputation additional tax under section OB 72 of the Income Tax Act 2007, make an assessment of the amount of the imputation additional tax that in the Commissioner's judgment ought to be imposed, and the company shall be liable to pay the imputation additional 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 imputation additional tax.

  2. Sections 109, 111, and 113 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 imputation additional tax; and
    1. in section 113, the term tax already assessed included the imputation additional tax already assessed under this section.

      1. An assessment made under this section is 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 imputation additional tax for which a company may be chargeable under section OB 72 of the Income Tax Act 2007.

      Notes
      • Section 101B: inserted (with effect on 16 November 2004), on , by section 143 of the Taxation (Base Maintenance and Miscellaneous Provisions) Act 2005 (2005 No 79).
      • Section 101B heading: 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 101B(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 101B(2)(a): amended (with effect on 16 November 2004), on , by section 169 of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 (2014 No 39).
      • Section 101B(2)(a): 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 101B(2)(b): 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 101B(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).