Tax Administration Act 1994

Assessments

113F: Amended assessments: election under section HC 33 to satisfy trustee liability

You could also call this:

"Paying a trust's income tax debt using a special choice under section HC 33"

Illustration for Tax Administration Act 1994

You can choose under section HC 33 of the Income Tax Act 2007 to pay the income tax liability of a trust. If you make this choice, it applies to a past income year. The Commissioner can then make a new assessment for the trust and that past year. You must give the Commissioner the information they need to work out the correct assessment. The Commissioner can make a new assessment even if tax has already been paid. This can happen at any time after you make the choice. The Commissioner needs this information to determine the correct assessment for the past year. You are responsible for providing the information. This is part of the process when you choose to pay the trust's income tax liability.

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This page was last updated on 28 November 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS330316.

Topics:

Money and consumer rights > Taxes

113E: Amended assessments: research and development tax credits, or

"Changing Research and Development Tax Credits"

113G: Amended assessments: tax year to which net loss carried back under section IZ 8, or

"Carrying back losses to a previous tax year and changing tax assessments"

Part 6Assessments

113FAmended assessments: election under section HC 33 to satisfy trustee liability

This section applies when a person chooses under section HC 33 of the Income Tax Act 2007 to satisfy the income tax liability of the trustee of a trust and the election applies to an income year (the affected year) ending before the income year in which the person makes the election.
The Commissioner may from time to time and at any time make an assessment or reassessment for the trustee and the affected year as a consequence of the election notwithstanding that tax already assessed may have been paid.
The person who makes the election must provide the Commissioner with the information required by the Commissioner for determining the correct assessment for the affected year.

Notes

Section 113F: inserted, on 23 March 2020, by section 219 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).