Section EH 47 — Income Tax Act 2007: Refund on retirement

EH 47 Refund on retirement When this section applies (1) This section applies when a person— (a) has an adverse event income equalisation account; and (b) is neither a company nor a trustee; and (c) retires from the farming or agricultural business. Refund (2) The Commissioner must refund to the person the amount that, on the date the deposit ends, is in their adverse event income equalisation account. Defined in this Act: adverse event income equalisation account , amount , business , Commissioner , company , date the deposit ends , person , trustee , Compare: 2004 No 35 s EH 48