Section LA 6 — Income Tax Act 2007: Remaining refundable credits: PAYE, RWT, and certain other items

LA 6 Remaining refundable credits: PAYE, RWT, and certain other items What this section applies to (1) This section applies to a person’s tax credit remaining for a tax year under section LA 5(5) if it is a tax credit under— (a) section LB 1 (Tax credits for PAYE income payments): (b) section LB 2 (Tax credits for provisional tax payments): (c) section LB 3 (Tax credits for resident withholding tax): (cb) section LB 6 (Tax credits for RSCT): (d) subpart LF (Tax credits for foreign dividend payment (FDP) credits): (db) subpart LH (Tax credits for expenditure on research and development), although modified by section LH 2(6) (Tax credits relating to expenditure on research and development): (e) subpart LO (Tax credits for Maori authority credits): (f) section LS 1 (Tax credits for multi-rate PIEs). Use of credits (2) The Commissioner must— (a) first, use a tax credit to satisfy the person’s income tax liability for a tax year that is before the tax year referred to in subsection (1): (b) second, use a tax credit to satisfy the person’s income tax liability for a tax year that is later than the tax year referred to in subsection (1), applying this paragraph to earlier tax years before later tax years: (c) third, pay the person’s provisional tax for a tax year that is later than the tax year referred to in subsection (1), applying this paragraph to earlier tax years before later tax years: (d) fourth, treat a tax credit as tax paid in excess and as transferable under Part 10B of the Tax Administration Act 1994: (e) fifth, refund a tax credit by applying sections RB 4 , RM 2 to RM 8 , and RM 10 (which relate to refunds and their use), as applicable, and the Tax Administration Act 1994 . Time bar (3) The Commissioner may amend an assessment or a determination to give effect to this section despite the time bar. Defined in this Act: assessment , Commissioner , income tax liability , PAYE , provisional tax , RWT , tax credit , tax year , time bar , Compare: 2004 No 35 ss LD 1 , LD 3 , LD 3A , LD 6–LD 8 , LD 12(5) , LH 1(6), MD 1 Section LA 6(1)(cb): inserted, on 1 April 2008, by section 433(1) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section LA 6(1)(db): inserted, on 1 April 2008, by section 433(2) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section LA 6(1)(e): amended (with effect on 1 April 2008), on 6 October 2009, by section 308(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section LA 6(1)(f): added (with effect on 1 April 2008), on 6 October 2009, by section 308(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section LA 6(1)(f): amended, on 1 April 2010 (applying for the 2010–11 and later income years), by section 308(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section LA 6 compare note: amended, on 1 April 2008, by section 433(3) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).