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Tax Administration Act 1994

Transfers of excess tax - Transfer rules

173N: Transfer of excess tax: tax credits

You could also call this:

"Transferring extra tax money from a tax credit"

Illustration for Tax Administration Act 1994

If you are a taxpayer and you want to transfer a refund from a tax credit, you can choose when the transfer happens. You can choose a date that is on or after the date you make the request. Alternatively, you can choose a date after you apply for a refund under section 41A. You get to pick the later of these two dates.

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Topics:
Money and consumer rights > Taxes
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173MB: Limitation on transfer by PAYE intermediary, or

"Rules for keeping interest when paying taxes for someone else"

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173O: Transfer of excess tax if no date specified by taxpayer, or

"What happens to excess tax if you don't choose a date"

Part 10BTransfers of excess tax
Transfer rules

173NTransfer of excess tax: tax credits

  1. Despite sections 173L and 173M, if a taxpayer makes a request to transfer a refund arising from a tax credit referred to in section 41A, the taxpayer may choose only the later of the following dates:

  2. a date that occurs on or after the date of the request; and
    1. a date that occurs after the date on which the taxpayer applies for a refund under section 41A.

      Notes
      • Section 173N: inserted, on , by section 91(1) of the Taxation (Relief, Refunds and Miscellaneous Provisions) Act 2002 (2002 No 32).
      • Section 173N 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 173N: 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).