Section RM 23 — Income Tax Act 2007: Limits on refunds when Maori authority stops being Maori authority

RM 23 Limits on refunds when Maori authority stops being Maori authority When this section applies (1) This section applies when a Maori authority stops being a Maori authority and is entitled to a refund under sections RM 2 or RM 4 to RM 6 for a tax year in which it maintained a Maori authority credit account. Limit on amount of refund (2) The amount refunded must be no more than the final balance of the Maori authority credit account arising as a debit under section OK 18 (MACA final balance) just before the Maori authority stopped being a Maori authority. Defined in this Act: amount , Maori authority , Maori authority credit account , tax year , Compare: 2004 No 35 s MD 2B(2)