Section 947 — Income Tax Act 2007: Return periods

Return periods 947 1 For the purposes of this Chapter, the return periods which fall within a person's accounting period are determined as follows.

2 If at least one quarter date falls within the accounting period, each of the following is a return period which falls within the accounting period—

a any complete quarter which falls within the accounting period, and b any part of the accounting period which is not a complete quarter and which—

i ends with the first (or only) quarter date in that period, or ii begins immediately after the last (or only) quarter date in that period.

3 If no quarter date falls within the accounting period, the accounting period itself is to be treated as a return period which falls within the accounting period.

4 In this section— “ quarter ” means a period of three months ending— unless paragraph (b) applies, with the last day of March, June, September or December, or if the person mentioned in subsection (1) is a building society, with the last day of February, May, August or November, and “ quarter date ” means— unless paragraph (b) applies, the last day of March, June, September or December, or if the person mentioned in subsection (1) is a building society, the last day of February, May, August or November.