Variation to section RC 15 of the Income Tax Act 2007
This variation applies to customers who wish to change their method of calculating provisional tax to the GST ratio method. It recognises that the impact of COVID-19 means some customers may not have been able to choose to use the GST ratio method and inform the Commissioner of their election before the start of their income year. It provides those customers with extra time to inform the Commissioner.
Tax Administration Act 1994: ss 6H and 6I
Income Tax Act 2007: s RC 15