Accounting for tax: Tax returns

Which tax returns are required for Maori authorities?

At the end of each year all Maori authorities must complete the following returns to help us determine that the right amount of tax has been paid.

IR8 annual income tax return

All Maori authorities that have not received an Inland Revenue exemption must file a Maori authorities income tax return (IR8) . This return provides a complete statement of the authority's taxable income.

IR8J Maori authority credit account (MACA)

All Maori authorities maintaining a MACA must complete an end-of-year Annual Maori authority credit account return (IR8J) . The following information must be shown in this return:

• the opening balance
• the amount and source of all debits
• the amount and source of all credits
• the closing balance.

Due date for filing the IR8 and the IR8J

A Maori authority must file its Annual Maori authority credit account return (IR8J) by the due date for filing its Maori authorities income tax return (IR8) for the corresponding income year. See the "Tax due date calculator" under "Work it out" for the dates that apply to your organisation.

Limits on income tax refund

Income tax refunds will generally be limited to the amount of the credit closing balance at the most recently ended MACA year. For example, a refund of income tax being issued 31 May 2007 will be limited to the credit balance in the MACA as at 31 March 2007. This is because some of the credits that were in the MACA have already been attached to distributions paid to members.

The balance of the income tax credit that has not been refunded will be automatically transferred to the following financial year as a provisional tax payment.

If the MACA closing balance is a nil or a debit, the Maori authority will not be entitled to receive any income tax refund.

Maori authority distribution statement

All Maori authorities maintaining a MACA must complete a statement advising us of the total amount of distributions of credits made to its members. If no distributions have been made, a nil statement must be completed. It is important that the above return and statement accompany the Maori authorities income tax return (IR8).

Members' distribution statement

All Maori authorities maintaining a MACA and making distribution to their members must provide them with a distribution statement. This advises them about distributions they receive so they can, if necessary, complete their personal tax returns.

Date published: 03 Apr 2006

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