Taxation (Use of Money Interest Rates) Amendment Regulations 2019: revoked, on 31 March 2026, pursuant to section 253(c) of the Taxation (Annual Rates for 2025–26, Compliance Simplification, and Remedial Measures) Act 2026 (2026 No 8).

Patsy Reddy, Governor-General

Order in Council

At Wellington this 1st day of July 2019

Present:
The Right Hon Jacinda Ardern presiding in Council

Note

The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.

Note 4 at the end of this version provides a list of the amendments included in it.

These regulations are administered by the Inland Revenue Department.

These regulations are made under section 120H(b) of the Tax Administration Act 1994 on the advice and with the consent of the Executive Council.

1	Title
2	Commencement
3	Application
4	Principal regulations
5	Regulation 2 amended (Taxpayer’s paying rate)
6	Regulation 3 amended (Commissioner’s paying rate)
	Explanatory note
	Gazette Information
	Notes

Regulations

1 Title

These regulations are the Taxation (Use of Money Interest Rates) Amendment Regulations 2019.

2 Commencement

These regulations come into force on 29 August 2019.

3 Application

These regulations apply on and after 29 August 2019.

4 Principal regulations

These regulations amend the Taxation (Use of Money Interest Rates) Regulations 1998 (the principal regulations).

5 Regulation 2 amended (Taxpayer’s paying rate)

In regulation 2, replace “8.22%” with “8.35%”.

6 Regulation 3 amended (Commissioner’s paying rate)

In regulation 3, replace “1.02%” with “0.81%”.

Michael Webster,
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 29 August 2019, amend the Taxation (Use of Money Interest Rates) Regulations 1998 to—

increase the taxpayer’s paying rate of interest on unpaid tax from 8.22% to 8.35% per annum; and
decrease the Commissioner’s paying rate of interest on overpaid tax from 1.02% to 0.81% per annum.

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

Issued under the authority of the Legislation Act 2019.

Date of notification in Gazette: 4 July 2019.

Notes

1 General

This is a consolidation of the Taxation (Use of Money Interest Rates) Amendment Regulations 2019 that incorporates the amendments made to the legislation so that it shows the law as at its stated date.

2 Legal status

A consolidation is taken to correctly state, as at its stated date, the law enacted or made by the legislation consolidated and by the amendments. This presumption applies unless the contrary is shown.

Section 78 of the Legislation Act 2019 provides that this consolidation, published as an electronic version, is an official version. A printed version of legislation that is produced directly from this official electronic version is also an official version.

3 Editorial and format changes

The Parliamentary Counsel Office makes editorial and format changes to consolidations using the powers under subpart 2 of Part 3 of the Legislation Act 2019. See also PCO editorial conventions for consolidations.

4 Amendments incorporated in this consolidation

Taxation (Annual Rates for 2025–26, Compliance Simplification, and Remedial Measures) Act 2026 (2026 No 8): section 253(c)

Sort by

Taxation (Use of Money Interest Rates) Amendment Regulations 2019