Section EF 5 — Income Tax Act 2007: Use of money interest payable by person

EF 5 Use of money interest payable by person Timing of deduction (1) A deduction for interest payable by a person to the Commissioner under Part 7 of the Tax Administration Act 1994 is allocated to the income year in which the person pays the interest. Assessment made in same year as liability arises [Repealed] (2) [Repealed] Effect of amended assessment [Repealed] (3) [Repealed] Terminal amended assessment [Repealed] (4) [Repealed] Amended assessment in same year [Repealed] (5) [Repealed] Defined in this Act: Commissioner , deduction , income year , pay Compare: 2004 No 35 s EF 5 Section EF 5(1): substituted (with effect on 1 April 2011), on 29 August 2011 (applying for the 2011–12 and later income years), by section 29(1) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5(2) heading: repealed (with effect on 1 April 2011), on 29 August 2011 (applying for the 2011–12 and later income years), pursuant to section 29(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5(2): amended (with effect on 1 April 2008), on 2 November 2012, by section 38 of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88). Section EF 5(2): repealed (with effect on 1 April 2011), on 29 August 2011 (applying for the 2011–12 and later income years), by section 29(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5(3) heading: repealed (with effect on 1 April 2011), on 29 August 2011 (applying for the 2011–12 and later income years), pursuant to section 29(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5(3): repealed (with effect on 1 April 2011), on 29 August 2011 (applying for the 2011–12 and later income years), by section 29(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5(4) heading: repealed (with effect on 1 April 2011), on 29 August 2011 (applying for the 2011–12 and later income years), pursuant to section 29(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5(4): repealed (with effect on 1 April 2011), on 29 August 2011 (applying for the 2011–12 and later income years), by section 29(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5(5) heading: repealed (with effect on 1 April 2011), on 29 August 2011 (applying for the 2011–12 and later income years), pursuant to section 29(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5(5): repealed (with effect on 1 April 2011), on 29 August 2011 (applying for the 2011–12 and later income years), by section 29(2) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5 list of defined terms assessment : repealed (with effect on 1 April 2011), on 29 August 2011, section 29(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5 list of defined terms Commissioner : substituted (with effect on 1 April 2011), on 29 August 2011, section 29(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5 list of defined terms deduction : substituted (with effect on 1 April 2011), on 29 August 2011, section 29(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5 list of defined terms income tax liability : repealed (with effect on 1 April 2011), on 29 August 2011, section 29(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5 list of defined terms income year : substituted (with effect on 1 April 2011), on 29 August 2011, section 29(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5 list of defined terms interest : repealed (with effect on 1 April 2011), on 29 August 2011, section 29(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5 list of defined terms liquidation : repealed (with effect on 1 April 2011), on 29 August 2011, section 29(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5 list of defined terms notice : repealed (with effect on 1 April 2011), on 29 August 2011, section 29(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5 list of defined terms pay : substituted (with effect on 1 April 2011), on 29 August 2011, section 29(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EF 5 list of defined terms tax year : repealed (with effect on 1 April 2011), on 29 August 2011, section 29(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).