Plain language law

New Zealand law explained for everyone

Accident Compensation Act 2001

Management of the Scheme - General levy provisions

247: Change of balance date

You could also call this:

"Changing when your money year ends and telling the Corporation about it"

If you change the date of your yearly financial balance with the agreement of the Commissioner, you need to do two things. First, you must follow the rules set by the Corporation about giving them statements. The Corporation decides what rules are needed to make changes because of your new balance date. Second, if the Corporation makes any changes because of your new balance date, they must tell you about these changes in writing.

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 It might be out of date or be missing some parts.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

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=DLM103112.

Topics:
Money and consumer rights > Taxes
Previous

246: Information available to Corporation, or

"ACC can ask for information to figure out how much money people owe"

Next

248: Recovery of debts by Corporation, or

"ACC can get back money they shouldn't have given you or that you owe them"

Part 6Management of the Scheme
General levy provisions

247Change of balance date

  1. If any person (with the consent of the Commissioner) changes the date of the annual balance of the person's accounts for the purposes of the Tax Administration Act 1994,—

  2. the person must comply with such requirements from time to time notified by the Corporation concerning the delivery of statements as, in the opinion of the Corporation, are necessary in order for the Corporation to make consequential adjustments in relation to the person; and
    1. the Corporation must notify the person in writing of any consequential adjustments made.