Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020

223 New section 120KF inserted (Tolerance for provisional tax instalments)


After section 120KE, insert:

120KF Tolerance for provisional tax instalments

Despite a provisional taxpayer underpaying an instalment by $20 or less, the provisional taxpayer is treated as paying the instalment in full for the purposes of section 120KE.


Subsection (1) applies for the 2017–18 and later income years.