Plain language law

New Zealand law explained for everyone

Fire and Emergency New Zealand Act 2017

Levy - Avoidance arrangements and shortfall penalties - Shortfall penalties

105: Unacceptable levy position

You could also call this:

"Paying a penalty for not paying the right amount of levy"

Illustration for Fire and Emergency New Zealand Act 2017

You have to pay a shortfall penalty if you take a levy position that results in a levy shortfall. This happens when your levy position is unacceptable and the levy shortfall is more than $1,000 and 1% of the correct levy amount. The shortfall penalty is 20% of the levy shortfall. You can find more information by looking at the Fire and Emergency New Zealand Act 2017 and other related laws.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7072993.

This page was last updated on — View changes

Topics:
Money and consumer rights > Taxes
Previous

104: Not taking reasonable care, or

"Paying a penalty for not being careful with levy payments"

Next

106: Gross carelessness, or

"Paying a penalty for being very careless with your levy payments"

Part 3Levy
Avoidance arrangements and shortfall penalties: Shortfall penalties

105Unacceptable levy position

  1. A shortfall penalty is payable if the levy payer—

  2. takes a levy position that results in a levy shortfall; and
    1. the levy position is an unacceptable levy position; and
      1. the levy shortfall is greater than both—
        1. $1,000; and
          1. 1% of the amount of levy that is payable for the correct levy position.

          2. If subsection (1) applies, the shortfall penalty that is payable is 20% of the levy shortfall.

          Compare