Section MB 9 — Income Tax Act 2007: Family scheme income from deposits in main income equalisation accounts

MB 9 Family scheme income from deposits in main income equalisation accounts The family scheme income of a person for an income year includes the amount of a deduction under section DQ 1 (Main income equalisation scheme) allowed for a payment made to the Commissioner under section EH 4 (Main deposit) for an accounting year, corresponding to the same tax year as does the income year, and for a business of— (a) the person: (b) a company that meets the requirements of section MB 4 for the person's family scheme income to be affected by net income of the company for the accounting year: (c) a trustee of a trust that meets the requirements of section MB 7 for the person's family scheme income to be affected by net income of the trustee for the accounting year: (d) a company in which a trustee referred to in paragraph (c) and associated persons hold a voting interest of 50% or more, or a market value interest of 50% or more if a market value circumstance exists. Defined in this Act: accounting year , business , close company , Commissioner , company , family scheme income , income year , market value circumstance , market value interest , net income , pay , voting interest Section MB 9: added, on 1 April 2011, by section 112 of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130).