Section LK 4 — Income Tax Act 2007: Use of remaining credits

LK 4 Use of remaining credits When this section applies (1) This section applies for the purposes of section LA 5(2) (Treatment of remaining credits) when a person has a tax credit remaining for a tax year after applying section LA 4(1) (When total tax credit more than income tax liability). Amount carried forward (2) The amount is carried forward to the next tax year as a credit carried forward. Defined in this Act: amount , tax credit , tax year , Compare: 2004 No 35 s LC 4(4)