Section RC 24 — Income Tax Act 2007: Calculating instalments in transitional years: GST ratio method

RC 24 Calculating instalments in transitional years: GST ratio method What this section applies to (1) This section applies to a person liable to pay provisional tax using a GST ratio in relation to instalments of provisional tax payable in a transitional year. Adjustment if required (2) For a period or part period before the start of the new income year, the person must apply the GST ratio under section RC 11 on whichever dates of instalments A to F for their corresponding income year occur in the transitional year. Defined in this Act: corresponding income year , GST ratio , income year , pay , provisional tax , transitional year , Compare: 2004 No 35 s MB 23