Section RP 5 — Income Tax Act 2007: Subsidy claims

RP 5 Subsidy claims When this section applies (1) This section applies when a listed PAYE intermediary files a subsidy claim form under section 15M of the Tax Administration Act 1994 and the Commissioner amends the details to correct an error. Overpaid or underpaid amounts (2) If an overpayment or underpayment results from the amendment, the intermediary or Commissioner, as applicable, must pay the amount overpaid or underpaid within 30 days of the date of notice under section 15M(3) of that Act. Using overpayment to pay subsidy (3) Despite subsection (2), the Commissioner may choose to use the amount of an overpayment resulting from an amendment to pay a subsidy claim made after the end of the 14-day period referred to in section 15M(3) of that Act. Defined in this Act: amount , Commissioner , listed PAYE intermediary , pay , subsidy claim form , Compare: 2004 No 35 s NBB 5(4), (5)