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Tax Administration Act 1994

Interest - General provisions

120G: Payment date

You could also call this:

"When you have to pay tax and interest"

Illustration for Tax Administration Act 1994

You have to pay interest on unpaid tax right away. The Commissioner does not need to ask you for the payment. This rule applies unless a tax law says something different.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM355156.

Topics:
Money and consumer rights > Taxes
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120F: Interest priority and rights of Commissioner, or

"How the Commissioner uses your money to pay off tax debts and interest"

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120H: Setting and varying interest rates, or

"The Governor-General decides interest rates and how they change."

Part 7Interest
General provisions

120GPayment date

  1. Except where a tax law provides otherwise, interest payable by a taxpayer to the Commissioner on unpaid tax is payable immediately and without the need for a demand.

Notes
  • Section 120G: inserted, on , by section 36(1) of the Tax Administration Amendment Act (No 2) 1996 (1996 No 56).