Transfer rules

New rules came into force on 17 October 2002 that significantly alter the way Inland Revenue carries out requests for the transfer of excess tax. These rules are set out in the new Part XB of the Tax Administration Act 1994. You can now specify the date you want excess tax transferred, provided the date is a date allowed by the legislation. This statement consolidates Inland Revenue's current practices for actioning requests to transfer credits.

Transfer logic for credit from a payment

This flowchart sets out the logic used by the transfer calculator for credits arising from a payment. It shows how the calculator works out the effective date and maximum transferrable amount.

Transfer logic for credit from income tax

This flowchart sets out the logic used by the transfer calculator for credits arising from an income tax assessment. It shows how the calculator works out the effective date and maximum transferable amount.

Transfer logic for credit from GST

This flowchart sets out the logic used by the transfer calculator for credits arising from a GST assessment. It shows how the calculator works out the effective date and maximum transferable amount.

Operational statement - transfer of credits

A new Part XB has been inserted into the Tax Administration Act which sets out new rules for transferring excess tax. In particular these rules include transfer dates taxpayers can request. This statement consolidates Inland Revenue's current practices for actioning requests to transfer credits.

Date published: 30 Nov 2004

Back to top