Section RE 19 — Income Tax Act 2007: Choosing other rates

RE 19 Choosing other rates When this section applies (1) This section applies when a person ( person A ) is entitled to receive resident passive income other than a replacement payment under a share-lending arrangement. Person choosing rate (2) Person A may notify the person who is required to withhold the amount of tax for the payment to use 1 of the rates set out in schedule 1, part D, clause 3 (Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits). Company choosing rate (3) Despite subsection (1), if person A is a company, they may notify the person making the payment to withhold the amount of tax for the payment at the rate set out in schedule 1, part D, clause 4 . Application of rate (4) The rate chosen under subsection (2) or (3) applies to amounts of tax withheld from the date on which notice is given. Defined in this Act: amount of tax , company , notify , pay , replacement payment , resident passive income , share-lending arrangement , tax withheld , Compare: 2004 No 35 ss NF 2A(1), (3) , NF 2D(1), (3) Section RE 19 heading: substituted, on 1 April 2010 (applying for the 2010–11 and later income years), by section 109(1) of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63). Section RE 19(2): amended (with effect from 1 April 2008), on 29 May 2008, by section 46(a) of the Taxation (Personal Tax Cuts, Annual Rates, and Remedial Matters) Act 2008 (2008 No 36). Section RE 19(2): amended, on 1 April 2008, by section 562 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section RE 19(3): amended (with effect from 1 April 2008), on 29 May 2008, by section 46(b) of the Taxation (Personal Tax Cuts, Annual Rates, and Remedial Matters) Act 2008 (2008 No 36).