Section RC 4 — Income Tax Act 2007: Choosing to pay provisional tax

RC 4 Choosing to pay provisional tax Election (1) A person, when first providing a return of income for a tax year, may choose to pay provisional tax for the tax year if— (a) they have paid provisional tax of more than $2,500 on or before— (i) the date of instalment F for the corresponding income year; or (ii) the final instalment date in a transitional year; and (b) they have, on the day on which the first payment of provisional tax is made for the tax year, a reasonable expectation that they are liable to pay provisional tax for the tax year, other than by this election. Exclusion (2) This section does not apply to a person described in section RC 3(2) . Defined in this Act: corresponding income year , final instalment , instalment date , pay , provisional tax , return of income , tax year , transitional year , Compare: 2004 No 35 s MB 3