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Tax Administration Act 1994

Interest - Specific provisions

120VE: Interest on FamilyBoost tax credits

You could also call this:

"No interest is charged on FamilyBoost tax credits."

Illustration for Tax Administration Act 1994

You do not have to pay interest on FamilyBoost tax credits. This is because the Commissioner does not charge interest on these credits. The credits are calculated under subpart MH of the Income Tax Act 2007, which you can find at the Income Tax Act 2007 website.

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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=LMS1405738.

Topics:
Money and consumer rights > Taxes
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120VD: Interest on tax credits for charitable or other public benefit gifts, or

"No interest is paid on tax credits for charitable donations."

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120W: Commissioner's official opinions, or

"No interest on tax if you followed the Commissioner's advice"

Part 7Interest
Specific provisions

120VEInterest on FamilyBoost tax credits

  1. No interest shall be payable by the Commissioner under section 120D(3) on an amount of FamilyBoost tax credit calculated under subpart MH of the Income Tax Act 2007.

Notes
  • Section 120VE: inserted (with effect on 1 July 2024), on , by section 183 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).