Section EH 17 — Income Tax Act 2007: Refund on retirement

EH 17 Refund on retirement When this section applies (1) This section applies when a farmer or a fisher— (a) has a main income equalisation account; and (b) is neither a company nor a trustee; and (c) retires from the farming or agricultural business or the fishing business. Refund (2) The Commissioner must refund to the person the amount that, on the date the deposit ends, is in their main income equalisation account, regardless of the length of time it has been in the account. Section EH 28 overrides this subsection. Defined in this Act: amount , business , Commissioner , company , date the deposit ends , farmer , fisher , fishing business , main income equalisation account , person , trustee , Compare: 2004 No 35 s EH 17