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Tax Administration Act 1994

Determinations - Determinations relating to AIM method

91AAY: Class of taxpayers that must not use AIM method

You could also call this:

"Some taxpayers are not allowed to use the AIM method to pay tax"

Illustration for Tax Administration Act 1994

The Commissioner can decide that some taxpayers cannot use the AIM method. You need to know that the Commissioner makes this decision to ensure the government gets the right amount of tax revenue. The Commissioner must think about the risk of losing tax revenue if a group of taxpayers uses the AIM method. When the Commissioner makes a decision, it can say which tax years it applies to or from which date it starts. The Commissioner can also change or cancel a previous decision, and you will get at least 120 days' notice of any changes. The Commissioner's decision is a type of law, and you can find out more about how it is published by looking at Part 3 of the Legislation Act 2019.

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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=LMS38236.

Topics:
Money and consumer rights > Taxes
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91AAX: Accounting and rate determinations relating to AIM method, or

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91AAZ: AIM method information, or

"Information the Commissioner needs from you for the AIM method"

Part 5Determinations
Determinations relating to AIM method

91AAYClass of taxpayers that must not use AIM method

  1. The Commissioner may determine, for the purposes of section RC 5(5B)(f) of the Income Tax Act 2007, that a class of taxpayers must not use the AIM method.

  2. In making a determination the Commissioner must have regard to the risk that allowing the class of taxpayers to use the AIM method will result in less net revenue collectable from the class of taxpayers over time.

  3. A determination may set out the tax year or years for which it is to apply, or a date from which it is to apply (the implementation date).

  4. A determination (a later determination) may provide for the extension, limitation, variation, cancellation, or revocation of an earlier determination. The Commissioner must give at least 120 days notice of the implementation date of that later determination, in a publication chosen by the Commissioner.

  5. A determination under this section is secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

Notes
  • Section 91AAY: inserted, on (applying for the 2018–19 and later income years), by section 52(1) of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).
  • Section 91AAY(5): replaced, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).