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Tax Administration Act 1994

Information, record-keeping, and returns - Reporting of income information by individuals

22C: Outline of subpart

You could also call this:

"What you need to know about managing your income tax"

Illustration for Tax Administration Act 1994

This part of the law tells you about the rules for managing your income tax. You need to give the Commissioner certain information about your income. This includes things like your reportable income and other income, which you can find out about in the Income Tax Act 2007. You have to tell the Commissioner about your income at certain times. The Commissioner uses this information to work out how much tax you owe. If you make a mistake in your information, you can correct it. The law also talks about when the Commissioner can write off tax you owe. It explains what happens at the end of the tax year with your final account. For more information about returns and tax credits, you can look at the Income Tax Act 2007. Your income is divided into two types: reportable income and other income. The law sets out what these terms mean and how they are used. It also explains how to fix errors in your accounts and what information you need to give the Commissioner.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS191575.

Topics:
Money and consumer rights > Taxes
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22B: Further records required, or

"Keep extra trust records if you're a trustee"

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22D: Key terms, or

"What important tax words mean"

Part 3Information, record-keeping, and returns
Reporting of income information by individuals

22COutline of subpart

  1. This subpart provides the administrative settings that underpin an individual’s obligations under sections BB 2, BC 1 to BC 8 of the Income Tax Act 2007 to calculate and satisfy their income tax liability for a tax year. It sets out the requirements for the provision of information about an individual’s income, including—

  2. the obligations of individuals to provide certain income information to the Commissioner:
    1. what is meant by certain key terms such as reportable income, other income, pre-populated account, and final account:
      1. when and how information must be provided to the Commissioner:
        1. the treatment of an individual’s final account at the end of a tax year:
          1. when and how an individual’s assessment is made:
            1. when certain amounts of tax payable may be written off:
              1. how reporting errors in accounts may be corrected:
                1. the permitted de minimis amounts:
                  1. the information particulars.

                    1. For the purposes of this Act and the Income Tax Act 2007, income that an individual derives for a tax year is categorised as either—

                    2. their reportable income; or
                      1. their other income.

                        1. For the provisions related to—

                        2. returns of income, see sections 33 and 37:
                          1. returns related to family assistance credits, see section 41:
                            1. donations tax credits, see section 41A:
                              1. disputes, see sections 89C(l) and 89D:
                                1. assessments, see sections 92, 106, and 113:
                                  1. late filing penalties, see section 139A.

                                    1. Flowchart 1 Scheme of subpart 3B

                                    Notes
                                    • Section 22C: inserted, on , by section 16(1) (and see section 16(2) for application) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
                                    • Section 22C(1): amended, on , by section 196 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).