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Tax Administration Act 1994

Interest - Specific provisions

120N: Variation to definition of date interest starts for provisional tax

You could also call this:

"When interest starts for provisional tax payments can be different in some cases"

Illustration for Tax Administration Act 1994

You need to know when interest starts for provisional tax. The law says that if the due date for tax payment is also an instalment date for provisional tax, the definition of date interest starts changes.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM355325.

Topics:
Money and consumer rights > Taxes
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120M: Where provisional tax paid by company does not count as overpaid tax, or

"When a company's provisional tax doesn't get refunded"

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120O: Variation to definition of date interest starts, or

"When interest on unpaid tax starts, and how this date can change"

Part 7Interest
Specific provisions

120NVariation to definition of date interest starts for provisional tax

  1. Where the due date for the payment of tax is an instalment date for provisional tax, the definition of date interest starts is to be construed as if the words the later of the following days and subparagraph (ii) were omitted from paragraph (b) of that definition.

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