Section RP 4 — Income Tax Act 2007: Payment of subsidies to certain PAYE intermediaries

RP 4 Payment of subsidies to certain PAYE intermediaries Requirements for payment of subsidy (1) The Commissioner may pay a subsidy to a listed PAYE intermediary for a payroll service that they provide to an employer to whom section RD 22(3) or (4) (PAYE income payment forms for amounts of tax paid to Commissioner) applies if the listed PAYE intermediary— (a) has a contract with the employer to provide the services; and (b) has met their obligations under sections RP 13 to RP 16 ; and (c) files a correct subsidy claim form under section 15M of the Tax Administration Act 1994. Notification requirements (2) If a subsidy under subsection (1) is paid to a listed PAYE intermediary, the Commissioner must notify the intermediary of the following matters within 14 days of the date of the payment: (a) the amount of the subsidy paid in relation to each employer; and (b) the period to which the subsidy relates; and (c) other information that may be relevant to the payroll services provided as the Commissioner considers appropriate. Calculating amount of subsidy (3) The listed PAYE intermediary must calculate the amount of the subsidy in the manner provided by regulations made under this section. Paying amount of subsidy (4) The Commissioner must pay the amount of the subsidy within 30 days of receiving the last of— (a) the employer monthly schedule to which the subsidy claim form relates: (b) the payment of the amounts of tax for a PAYE income payment to which the subsidy claim form relates: (c) the subsidy claim form. Bank accounts (5) The Commissioner must pay the subsidy to a bank account nominated by the listed PAYE intermediary for the purpose or, if an overpayment has been made to the listed PAYE intermediary, to the listed PAYE intermediary’s bank account. Prescribing amount of subsidy (6) The Governor-General may from time to time by Order in Council prescribe the amount of the subsidy to be paid for an employee of an employer who contracts the services of a listed PAYE intermediary under section 15J of the Tax Administration Act 1994. Defined in this Act: amount , amount of tax , Commissioner , employee , employer , employer monthly schedule , listed PAYE intermediary , pay , PAYE income payment , subsidy claim form , Compare: 2004 No 35 ss NBB 1 , NBB 6