Section RZ 6 — Income Tax Act 2007: Limits on refunds: transitional dates

RZ 6 Limits on refunds: transitional dates ICA companies (1) If an imputation credit account (ICA) company has a refund of income tax, and an amount paid in excess is dealt with under section RM 16(2)(c) (Treatment of amounts not refunded), the amount may be used only for a tax year commencing after the 1988–89 tax year, whether that is before or after the year of that entitlement. Maori authorities (2) If a Maori authority has a refund of income tax, and an amount paid in excess is dealt with under section RM 22(4)(b) (Limits on refunds for Maori authorities), the amount may be used only for a tax year commencing after the 2004–05 tax year, whether that is before or after the year of that entitlement. PCA persons (3) If a policyholder credit account (PCA) person has a refund of income tax, and an amount paid in excess is dealt with under section RM 31(2)(c) (Treatment of amounts not refunded), the amount may be used only for a tax year commencing after the 1990–91 tax year, whether that is before or after the year of that entitlement. Defined in this Act: amount , ICA company , income tax , Maori authority , PCA person , tax year , Compare: 2004 No 35 ss MD 2(5)(a)(ii) , MD 3(4)(a)