Section Sch50-“ 46D — Income Tax Act 2007: FBT returns: changes in payment periods

“ 46D FBT returns: changes in payment periods “ (1) This section applies when an employer chooses to pay income tax on an income year basis under the close company option, and the first day of the relevant income year is not the same day as the first day of a quarter. “ (2) The employer must provide a return and pay FBT under section 46B, treating the period between the first day of the quarter in which the income year starts and the first day of the income year as if it were a quarter. “ Compare: 2004 No 35 s ND 15(7), (8)