Tax Administration Act 1994

Interest - Specific provisions

120OD: Application of sections 120A, 120AA and 120C to 120I to intermediaries who operate tax pooling accounts

You could also call this:

"Rules for people who manage tax pooling accounts"

Illustration for Tax Administration Act 1994

You operate a tax pooling account as an intermediary. When you do this, some rules apply to you. These rules are in sections 120A, 120AA and 120C to 120I. You must follow these rules as if they were written for intermediaries, not taxpayers. You do this in accordance with sections RP 17 to RP 21 of the Income Tax Act 2007. Some other rules, like sections 120EA, 120F(2) and 120F(3), do not apply to you.

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This page was last updated on 28 November 2025

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Topics:

Money and consumer rights > Taxes

120OC: Application of sections 120A, 120AA and 120D to 120I to PAYE intermediaries, or

"Rules for PAYE intermediaries like you"

120OE: Interest paid on deposits in tax pooling accounts, or

"Earning interest on money in a tax pooling account"

Part 7Interest
Specific provisions

120ODApplication of sections 120A, 120AA and 120C to 120I to intermediaries who operate tax pooling accounts

Sections 120A, 120AA and 120C to 120I apply to an intermediary who operates a tax pooling account in accordance with sections RP 17 to RP 21 of the Income Tax Act 2007 in their capacity as an intermediary as if references to a taxpayer were read as references to an intermediary.
Despite subsection (1), sections 120EA, 120F(2) and 120F(3) do not apply to an intermediary.

Notes

Section 120OD: inserted, on 1 April 2003, by section 111 of the Taxation (Maori Organisations, Taxpayer Compliance and Miscellaneous Provisions) Act 2003 (2003 No 5).
Section 120OD(1): amended, on 1 April 2008 (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).