New Zealand Legislation: Regulations
Regulations are laws made under Acts
Add to web feed 2009/184
Rt Hon Dame Sian Elias, Administrator of the Government
At Wellington this 22nd day of June 2009
Present:
Her Excellency the Administrator of the Government in Council
Pursuant to section 120H(b) of the Tax Administration Act 1994, Her Excellency the Administrator of the Government, acting on the advice and with the consent of the Executive Council, makes the following regulations.
These regulations are the Taxation (Use of Money Interest Rates) Amendment Regulations (No 2) 2009.
These regulations come into force on 29 June 2009.
These regulations amend the Taxation (Use of Money Interest Rates) Regulations 1998.
These regulations apply on and after 29 June 2009.
Regulation 2 is amended by omitting “9.73%”
and substituting “8.91%”
.
Regulation 3 is amended by omitting “4.23%”
and substituting “1.82%”
.
Rebecca Kitteridge,
Clerk of the Executive Council.
This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 29 June 2009,—
reduce from 9.73% to 8.91% the taxpayer's paying rate of interest on unpaid tax:
reduce from 4.23% to 1.82% the Commissioner's paying rate 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. Those regulations were amended by a companion measure to these regulations in respect of the setting process for the taxpayer's paying rate.
Date of notification in Gazette: 25 June 2009.
These regulations are administered by the Inland Revenue Department.
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