New Zealand Acts

TAXATION (WORKING FOR FAMILIES) ACT 2004 - SECT 6

6 Credit of tax by instalments

1 Section KD 5(2) is replaced by the following:

2 An application under subsection (1) or (1A) must—

a) be in the prescribed form; and

b) be signed by the person and any other person who, at the time at which the application is made, expects to be, in the elected period, a spouse in relation to the person; and

c) give, for each signatory to the application, a complete statement of—

i) the net income that is expected to be attributable to the tax year referred to in subsection (1) or (1A) ; and

ii) the net income that is expected to be attributable to the elected period; and

d) elect whether the interim instalments should be paid weekly or fortnightly; and

e) contain such other information as the Commissioner may require; and

f) be accompanied by the information required by subsection (2AAA) .

2AAA An application under subsection (1) or (1A) must be accompanied by the following:

a) for a signatory who expects to derive income from employment, evidence of the amount of income from employment (if any) derived by the signatory in the period of one month immediately preceding the date on which the application is made:

b) for a signatory who expects to derive income from a business,—

i) a copy of the annual accounts of the business for the tax year (or the accounting year that, under this Act, corresponds with the tax year) immediately preceding the tax year that contains the elected period; or

ii) if the Commissioner is satisfied that the annual accounts referred to in subparagraph (i) have not been completed, a copy of the annual accounts for the business for the tax year (or the accounting year that, under this Act, corresponds with the tax year) that precedes the year immediately preceding the tax year that contains the elected period; or

iii) a set of budgeted accounts of the business for the tax year (or the accounting year that, under this Act, corresponds with the tax year) that contains the elected period; or

iv) other evidence that is acceptable to the Commissioner in relation to the business for the tax year (or the accounting year that, under this Act, corresponds with the tax year) that contains the elected period:

c) unless paragraph (d) applies, the tax file number of each child in relation to whom a credit of tax is claimed:

d) in the case of a child that has died or is given up for adoption, a birth certificate or other evidence acceptable to the Commissioner verifying the birth or existence of the child for whom a credit of tax is claimed.

2 In section KD 5(2AA) , subsection (2)(a) is replaced by subsection (2AAA)(a).

3 In section KD 5(2AB) , subsection (2)(d) is replaced by subsection (2AAA)(d).

4 In section KD 5(4)(b) and in section KD 5(4)(c)(i) to (iv) , in each place where it appears, fortnightly is omitted.

5 In section KD 5(6) , under subsection (4) is replaced by for the purpose of subsection (4).

6 In section KD 5(6A)(b)(ii) , section KD 5B is replaced by sections KD 2 and KD 3.

7 Section KD 5(10)(c) is replaced by the following:

c) is advised by the chief executive of the department currently responsible for administering the Social Security Act 1964 , under sections 84 or 85G of the Tax Administration Act 1994 , that the person is also receiving a credit of tax from the chief executive or will receive a credit of tax from the chief executive,—

.

8 Subsections (1) to (7) apply in respect of the 2005-06 and subsequent income years.