Section EW 13 — Income Tax Act 2007: When use of spreading method not required

EW 13 When use of spreading method not required Base price adjustment year (1) A person does not use any of the spreading methods for a financial arrangement in the income year in which section EW 29 requires them to calculate a base price adjustment for it. Trustee of personal injury compensation trust (2) A trustee who holds a financial arrangement in trust to manage compensation paid for personal injury under the Accident Compensation Act 2001 , the Accident Insurance Act 1988, any of the former Acts as defined in section 13 of the Accident Insurance Act 1998, the Workers' Compensation Act 1956, or a court order does not use any of the spreading methods for the financial arrangement if the trustee is a cash basis person. Cash basis person (3) A cash basis person is not required to use any of the spreading methods, but may choose to do so under section EW 61 . Defined in this Act: cash basis person , financial arrangement , income year , pay , spreading method , trustee , Compare: 2004 No 35 s EW 13 Section EW 13(2): substituted, on 1 April 2009, by section 6(1) of the Taxation (Business Tax Measures) Act 2009 (2009 No 5). Section EW 13(2): amended, on 21 December 2010, by section 189 of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130).