Section RZ 3 — Income Tax Act 2007: Standard method: 2010–11 to 2012–13 income years

RZ 3 Standard method: 2010–11 to 2012–13 income years When this section applies (1) This section applies to the calculation of a person's provisional tax liability, when section RC 5 (Methods for calculating provisional tax liability) applies,–– (a) for instalments payable on or after 1 October 2010 for the 2010–11 income year and for instalments for the 2011–12 and 2012–13 income years, if the person is a new personal tax rate person: (b) for instalments payable for the 2011–12 and 2012–13 income years, if the person is a new company tax rate person. Standard method modified: for 5% uplift (2) The standard method under section RC 5(2) is modified so that–– (a) for instalments payable on or after 1 October 2010 for the 2010–11 income year, instead of using 105%, the amount of provisional tax payable is calculated using 95%, if the person is a new personal tax rate person: (b) for the 2011–12 income year, instead of using 105%, the amount of provisional tax payable is calculated using–– (i) 95%, if the person is a new personal tax rate person; or (ii) 100%, if the person is a new company tax rate person. Standard method modified: for 10% uplift (3) The standard method under section RC 5(3) is modified so that–– (a) for instalments payable on or after 1 October 2010 for the 2010–11 income year, instead of using 110%, the amount of provisional tax payable is calculated using 95%, if the person is a new personal tax rate person: (b) for the 2011–12 income year, instead of using 110%, the amount of provisional tax payable is calculated using–– (i) 95%, if the person is a new personal tax rate person; or (ii) 105%, if the person is a new company tax rate person: (c) for the 2012–13 income year, instead of using 110%, the amount of provisional tax payable is calculated using–– (i) 100%, if the person is a new personal tax rate person; or (ii) 105%, if the person is a new company tax rate person. Defined in this Act: amount , income year , new company tax rate person , new personal tax rate person , pay , provisional tax Section RZ 3: substituted, on 1 October 2010, by section 29 of the Taxation (Budget Measures) Act 2010 (2010 No 27).