Section RD 52 — Income Tax Act 2007: Calculation for certain employees when information lacking

RD 52 Calculation for certain employees when information lacking When this section applies (1) This section applies in relation to the following persons when an employer does not have sufficient information to complete a calculation under section RD 50 or RD 51 : (a) a shareholder-employee who derives salary or wages, or income to which section RD 3(2) to (4) applies; or (b) an employee receiving attributed income under section GB 29 (Attribution rule: calculation) from a company or trust that is their employer. Calculations under sections RD 50 and RD 51 not required (2) Sections RD 50 and RD 51 do not apply in the tax year or income year, as applicable, in which the employer is required to attribute a fringe benefit to the employee. Alternative rates (3) The employer must either— (a) pay FBT at the rate of 42.86% of the taxable value of the fringe benefits attributed for the tax year, and apply sections RD 50 and RD 51 to the benefits in the next tax year; or (b) pay FBT at the rate of 49.25% of the taxable value of the fringe benefits attributed for the tax year. Defined in this Act: company , employee , employer , FBT , fringe benefit , income , income year , pay , salary or wages , shareholder-employee , tax year , Compare: 2004 No 35 s ND 5A Section RD 52(3)(a): amended, on 1 April 2011 (applying for the 2011–12 income year and later income years), by section 65(2)(a) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section RD 52(3)(a): amended (with effect on 1 April 2010), on 28 May 2010 (applying for the 2010–11 income year and later income years), by section 65(1)(a) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section RD 52(3)(b): amended, on 1 April 2011 (applying for the 2011–12 income year and later income years), by section 65(2)(b) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section RD 52(3)(b): amended (with effect on 1 April 2010), on 28 May 2010 (applying for the 2010–11 income year and later income years), by section 65(1)(b) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section RD 52(3)(b): amended, on 1 April 2009, by section 30(1) of the Taxation (Business Tax Measures) Act 2009 (2009 No 5).