Section RZ 1 — Income Tax Act 2007: Certain elections to become person with provisional tax liability

RZ 1 Certain elections to become person with provisional tax liability When this section applies (1) This section applies when a person has a non-standard income year and has, between 10 October 2000 and the date on which the Taxation (Relief, Refunds, and Miscellaneous Provisions) Act 2002 received Royal asset, filed a return of income for the 1998–99 income year or a later income year on the basis that section MB 3(a) of the Income Tax Act 2004 ( section MB 2A(1)(a)(i) before the enactment of that Act) applied. Choosing to have provisional tax liability (2) The person may choose to be a person with a provisional tax liability for the income year for which the return was filed if they have paid provisional tax of more than $2,500 on or before the date of instalment F for the income year corresponding to the tax year for which the return was filed. Defined in this Act: corresponding income year , income year , non-standard income year , provisional tax , return of income , tax year , Compare: 2004 No 35 s MZ 8