Section RM 28 — Income Tax Act 2007: Limits on refunds for PCA persons

RM 28 Limits on refunds for PCA persons When this section applies (1) This section applies when a PCA person is entitled to a refund of income tax under sections RM 2 and RM 4 to RM 6 . Amount of refund limited (2) The amount of the refund must be no more than the credit balance of the PCA person in the policyholder credit account at the latest of the following dates: (a) the last day of the tax year that has just ended: (b) the last day of a period for which the person is required to file a return under section 66(4) of the Tax Administration Act 1994: (c) the last day of a period for which the person files an annual PCA return under section 66(5) of that Act. Defined in this Act: amount , annual PCA return , income tax , PCA person , policyholder credit account , tax year , Compare: 2004 No 35 s MD 3(1)