Section YE 1 — Income Tax Act 2007: References to balance dates and years

YE 1 References to balance dates and years When this section applies (1) This section applies for the purposes of the Act unless the context requires otherwise. Tax year identified by 2 years (2) A reference to a tax year that is identified by a reference, in full or short form, to 2 years is a reference to the tax year that— (a) starts on 1 April in the earlier of those years; and (b) ends on 31 March in the later of those years. Income year identified by 2 years (3) A reference to an income year that is identified by a reference, in full or short form, to 2 years is a reference to the corresponding income year for the tax year that a reference to the same 2 years would identify. Standard balance date or accounting years (4) A reference to a person with a standard balance date, a standard accounting year, or a standard income year is a reference to a person who files a return of income under section 33 of the Tax Administration Act 1994 for a tax year on the basis of a corresponding income year also ending on 31 March. Non-standard balance date, accounting year, or income year (5) A reference to a person with a non-standard balance date, non-standard accounting year, or non-standard income year is a reference to a person who has approval under section 38 of the Tax Administration Act 1994 to file a return of income for a tax year on the basis of a corresponding income year ending other than 31 March. Unless the context requires otherwise, the non-standard year is the accounting year that corresponds to the tax year for which the reference is made. Early balance date (6) A reference to a person with an early balance date is a reference to a person who has approval under section 38 of the Tax Administration Act 1994 to file a return of income for a tax year on the basis of a corresponding income year that ends in a date between 1 October and the following 31 March, both days inclusive. Unless the context requires otherwise, the year with the early balance date is the accounting year that corresponds with the tax year for which the reference is made. Late balance date (7) A reference to a person with a late balance date is a reference to a person who has approval under section 38 of the Tax Administration Act 1994 to file a return of income for a tax year on the basis of a corresponding income year that ends in a date between 1 April and the following 30 September, both days inclusive. Unless the context otherwise requires, the year with the late balance date is the accounting year that corresponds with the tax year in relation to which the reference is made. Defined in this Act: accounting year , corresponding income year , early balance date , income year , late balance date , non-standard accounting year , non-standard balance date , non-standard income year , return of income , standard accounting year , standard balance date , standard income year , Compare: 2004 No 35 s OF 1