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Tax Administration Act 1994

Interest

120AA: Application of Part

You could also call this:

"When old tax rules still apply to you"

Illustration for Tax Administration Act 1994

You do not have to follow the rules in this Part if you have paid tax that you disagree with. You must have objected to the tax or appealed against it. You also must have told the Commissioner that you want to follow old rules, such as sections 120 or 139, before a certain date. If the Commissioner decides you are right, they will refund the tax you paid or you will have to pay tax that you did not pay before. If this applies to you, the Commissioner will use the old rules, such as sections 120 or 139, to work out what to do. They will use these rules as they were before they were repealed by sections 36 and 43 of the Tax Administration Amendment Act (No 2) 1996. Alternatively, they will use sections 34A or 398 of the Income Tax Act 1976 as they were before this Act was enacted.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM354991.

Topics:
Money and consumer rights > Taxes
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120A: Purpose of this Part and nature of interest, or

"Getting back the right amount of tax with interest"

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120B: Persons excluded, or

"Who doesn't have to follow these tax rules"

Part 7Interest

120AAApplication of Part

  1. This Part does not apply if—

  2. a taxpayer has paid qualifying tax in dispute; and
    1. the taxpayer has objected, appealed, or stated a case relating to the qualifying tax in dispute paid; and
      1. the taxpayer has indicated to the Commissioner, before the date that the Taxation (Accrual Rules and Other Remedial Matters) Act 1999 receives the Royal assent, that repealed sections 120 or 139 of this Act or repealed sections 34A or 398 of the Income Tax Act 1976 apply; and
        1. the decision on the objection, appeal, or case stated requires the Commissioner to refund the qualifying tax in dispute paid or requires the taxpayer to pay deferrable tax, as that term was defined before its repeal by section 3 of the Tax Administration Amendment Act (No 2) 1996.

          1. If subsection (1) applies, the Commissioner must apply, as appropriate—

          2. sections 120 or 139 as they applied immediately before their repeal by sections 36 and 43 respectively of the Tax Administration Amendment Act (No 2) 1996; or
            1. sections 34A or 398 of the Income Tax Act 1976 as they applied immediately before the enactment of this Act.

              Notes
              • Section 120AA: inserted, on (applying on and after 1 April 1997), by section 102(1) of the Taxation (Accrual Rules and Other Remedial Matters) Act 1999 (1999 No 59).