Section OK 9 — Income Tax Act 2007: MACA reversal of tax advantage arrangement

OK 9 MACA reversal of tax advantage arrangement When this section applies (1) This section applies when it is established that a Maori authority credit in a Maori authority’s credit account was incorrectly determined to be the subject of an arrangement to obtain a tax advantage. Credit (2) The Maori authority has a Maori authority credit for an amount that equals the amount of a debit in the Maori authority credit account under section OK 17 . Table references (3) The Maori authority credit in subsection (2) is referred to in table O17: Maori authority credits, row 9 (reversal of tax advantage arrangement). The Maori authority debit in subsection (2) is referred to in table O18: Maori authority debits, row 9 (tax advantage arrangement). Credit date (4) The credit date is the same as the debit date for the debit under section OK 17 . Defined in this Act: amount , Maori authority , Maori authority credit , Maori authority credit account , Maori authority debit , tax advantage , Compare: 2004 No 35 s MK 4(1)(g), (2)(d)