Taxation (Use of Money Interest Rates) Amendment Regulations 2007

  • revoked
  • Taxation (Use of Money Interest Rates) Amendment Regulations 2007: 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 2007

(SR 2007/13)

  • Taxation (Use of Money Interest Rates) Amendment Regulations 2007: 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 by the Inland Revenue Department.


  • Preamble

    At Wellington this 12th day of February 2007

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

1 Title
  • These regulations are the Taxation (Use of Money Interest Rates) Amendment Regulations 2007.

2 Commencement
  • These regulations come into force on 8 March 2007.

3 Principal regulations amended
4 Application
  • These regulations apply on and after 8 March 2007.

5 Taxpayer's paying rate
  • Regulation 2 is amended by omitting 13.08% and substituting 14.24%.

6 Commissioner's paying rate
  • Regulation 3 is amended by omitting 5.71% and substituting 6.66%.

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 2007, amend the Taxation (Use of Money. Interest Rates) Regulations 1998 to—

  • increase from 13.08% to 14.24% the taxpayer's paying rate of interest on unpaid tax; and

  • increase from 5.71% to 6.66% the Commissioner of Inland Revenue's paying rate of interest on overpaid tax.

The rates fixed by these regulations have been determined in accordance with the Taxation (Use of Money Interest Rates Setting Process) Regulations 1997 (SR 1997/7).


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

Date of notification in Gazette: 15 February 2007.


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 2007. 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