Taxation (Use of Money Interest Rates) Amendment Regulations 2005

  • revoked
  • Taxation (Use of Money Interest Rates) Amendment Regulations 2005: revoked, on 12 May 2011, by clause 3 of the Regulatory Reform (Revocations) Order 2011 (SR 2011/99).

Reprint
as at 12 May 2011

Taxation (Use of Money Interest Rates) Amendment Regulations 2005

(SR 2005/8)

  • Taxation (Use of Money Interest Rates) Amendment Regulations 2005: revoked, on 12 May 2011, by clause 3 of the Regulatory Reform (Revocations) Order 2011 (SR 2011/99).


Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

These regulations are administered in the Inland Revenue Department.


Pursuant to section 120H(b) of the Tax Administration Act 1994, Her Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.

1 Title
2 Commencement
  • These regulations come into force on 8 March 2005.

3 Application
  • These regulations apply on and after 8 March 2005.

4 Taxpayer's paying rate
  • Regulation 2 of the principal regulations is amended by omitting the expression 11.93%, and substituting the expression 13.08%.

5 Commissioner's paying rate
  • Regulation 3 of the principal regulations is amended by omitting the expression 4.83%, and substituting the expression 5.71%.

Diane Morcom,

Clerk of the Executive Council.


Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on 8 March 2005, amend the Taxation (Use of Money Interest Rates) Regulations 1998 to—

  • increase from 11.93% to 13.08% the taxpayer's paying rate of interest on unpaid tax; and

  • increase from 4.83 % to 5.71% the Commissioner of Inland Revenue's paying rate of interest on overpaid tax.

The rates fixed by these regulations have been determined under the process specified in the Taxation (Use of Money Interest Rates Setting Process) Regulations 1997 (SR 1997/7) for setting the taxpayer's paying rate and the Commissioner's paying rate.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 3 February 2005.


Contents

  • 1General

  • 2About this eprint

  • 3List of amendments incorporated in this eprint (most recent first)


Notes
1 General
  • This is an eprint of the Taxation (Use of Money Interest Rates) Amendment Regulations 2005. The eprint incorporates all the amendments to the regulations as at 12 May 2011. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007.

    Relevant provisions of any amending enactments that contain transitional, savings, or application provisions that cannot be compiled in the eprint are also included, after the principal enactment, in chronological order.

2 About this eprint
3 List of amendments incorporated in this eprint (most recent first)
  • Regulatory Reform (Revocations) Order 2011 (SR 2011/99): clause 3


  • 1 SR 1998/105