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Tax Administration Act 1994

Information, record-keeping, and returns - Returns - Returns and return dates

42C: Income tax returns by undischarged bankrupt

You could also call this:

"Tax returns for people who are bankrupt and earn an income"

Illustration for Tax Administration Act 1994

If you are bankrupt and get an income, you must file a tax return. You do this for the year you got the income while being bankrupt. This rule does not apply if you are treated under section 22I(1)(b) and section 92 in a certain way.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7212423.

Topics:
Money and consumer rights > Taxes
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"Special company tax returns for owners"

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43: Income tax returns and assessments by executors or administrators, or

"Doing tax returns for someone who has passed away"

Part 3Information, record-keeping, and returns
Returns: Returns and return dates

42CIncome tax returns by undischarged bankrupt

  1. A person who is adjudicated bankrupt under the Insolvency Act 2006 and derives an amount of income in an income year while being a bankrupt must make a return of income for the income year, unless the person is an individual whose final account for the tax year is treated under section 22I(1)(b) as an assessment under section 92.

Notes
  • Section 42C: inserted, on , by section 313 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
  • Section 42C: amended, on , by section 40(1) (and see section 40(2) for application) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).