Section EH 53 — Income Tax Act 2007: Refund on bankruptcy

EH 53 Refund on bankruptcy When this section applies (1) This section applies when a person— (a) has an adverse event income equalisation account; and (b) is bankrupt. Refund (2) The Commissioner must refund to the Official Assignee having charge of the person’s estate the amount that, on the date the deposit ends, is in the person’s adverse event income equalisation account. Defined in this Act: adverse event income equalisation account , amount , Commissioner , date the deposit ends , person , Compare: 2004 No 35 s EH 54