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Tax Administration Act 1994

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

22H: Finalising accounts

You could also call this:

"Finalising your tax account: checking and correcting your details"

Illustration for Tax Administration Act 1994

The Commissioner can finalise your account for a tax year if they think your pre-populated account is correct and complete. You can adjust your account by providing more income information as required under section 22F(1). You can correct any errors in your reportable income information and finalise your account by confirming it is correct. If the Commissioner asks you for more information, you can correct any errors and finalise your account. You must make any adjustments, corrections, or confirmations by 7 July in the next tax year, or by a later date if you have an extension of time to file a return of income as set out in section 37(1) or section 37(3) to (5). This means you have a deadline to finalise your account.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS191594.

Topics:
Money and consumer rights > Taxes
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22G: Amending accounts for incorrect or missing information, or

"Fixing mistakes in your tax account information"

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22I: Returns and assessments, or

"Doing your taxes: sending in your income and getting it checked"

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

22HFinalising accounts

  1. If the Commissioner is satisfied that the income information of a qualifying individual for a tax year as set out in their pre-populated account correctly and completely records their income for the corresponding income year, the Commissioner may finalise the individual’s account for the tax year.

  2. An individual other than a qualifying individual may—

  3. adjust their pre-populated account for the tax year by providing the income information required under section 22F(1) in relation to their other income; and
    1. correct any errors in their reportable income information; and
      1. finalise the account by confirming that the income information in the account as adjusted correctly and completely records their income for the corresponding income year.

        1. If the Commissioner requests income information from a qualifying individual in relation to their pre-populated account, the individual may—

        2. correct any errors in their reportable income information; and
          1. finalise the account by confirming that the income information in the account as adjusted correctly and completely records their income for the corresponding income year.

            1. The adjustment, correction, or confirmation is due to be made by—

            2. 7 July in the following tax year, as set out in section 37(1):
              1. for an individual who has, under section 37(3) to (5), an extension of time to file a return of income, by the later date in the next tax year.

                Notes
                • Section 22H: 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 22H(2): amended (with effect on 1 April 2019), on , by section 198(1) of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).
                • Section 22H(4): amended (with effect on 1 April 2019), on , by section 198(2) of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).