“Tax agent means a person who prepares the returns of income required to be furnished for 10 or more taxpayers and who—

• “(a) Carries on a professional public practice; or

• “(b) Carries on any business in which returns of income are prepared; or

• “(c) Is the Maori Trustee:”.

“30A Statement to shareholder when conduit tax relief credit attached to dividend

• Where a conduit tax relief company attaches a conduit tax relief credit to a dividend under section MI 7 of the Income Tax Act 1994, the company must include the following information in the shareholder dividend statement required by section 29:

  • “(a) The amount of the conduit tax relief credit:

  • “(b) The amount of the conduit tax relief additional dividend paid under section LG 1 of the Income Tax Act 1994:

  • “(c) The aggregate of—

    • “(i) The dividend paid to the shareholder; and

    • “(ii) The conduit tax relief additional dividend paid to the shareholder.”.

• “(j) Is, notwithstanding paragraph (i), a person who, in an income year, had an IRD loan balance under the Student Loan Scheme Act 1992 and whose IRD loan balance on the last day of an income year was nil.”.

• “(4) Subject to subsection (5), the Commissioner may extend a tax agent's time for furnishing a return of income for any taxpayer to a date the Commissioner thinks proper in the circumstances, if the Commissioner is satisfied that—

  • “(a) The tax agent is unable to furnish the return of income on or before the date set by subsection (1); or

  • “(b) It would be unreasonable, having regard to the circumstances of the tax agent preparing the return, to require the return to be furnished on or before the date set by subsection (1).

• “(4A) The Commissioner may refuse to extend a tax agent's time for furnishing a taxpayer's return of income for an income year and may cancel an existing extension of time for furnishing such a return if the taxpayer has not furnished any required return of income for a prior income year and that return is not subject to an extension of time.”.

“68A Statement when conduit tax relief credit attached to dividend

• If a conduit tax relief company attaches a conduit tax relief credit to a dividend, the company must include the following information in the company dividend statement required by section 67:

  • “(a) The conduit tax relief additional dividend paid under section LG 1 of the Income Tax Act 1994:

  • “(b) The dividend withholding payment ratio (calculated as if the credit were a dividend withholding payment credit):

  • “(c) The combined imputation and dividend withholding payment ratio (calculated as if the credit were a dividend withholding payment credit), if an imputation credit has been attached to the dividend.”.

• “(ea) If the company is a conduit tax relief company for the imputation year,—

  • “(i) The opening and closing balances of the company's conduit tax relief account for the imputation year:

  • “(ii) The amount and source of all credits and debits that have arisen in the company's tax relief account in accordance with Part MI of the Income Tax Act 1994:”.

• “(4) For the purposes of subsections (2) and (3), a conduit tax relief credit is treated as if it were a dividend withholding payment credit.”.

“103A Assessment of dividend withholding payment relating to conduit tax relief

• “(1) The Commissioner may assess the amount of dividend withholding payment payable by a company under section MI 10 of the Income Tax Act 1994 that the Commissioner considers appropriate.

  “(2) The company must pay the amount assessed unless the company establishes in proceedings challenging the assessment that the assessment is excessive or that the company is not chargeable with the dividend withholding payment.

  “(3) The Commissioner's assessment can be challenged in the same way as income tax, and Part VIIIA of this Act applies accordingly.

  “(4) Sections 109, 111, and 113 apply to an assessment as if—

  • “(a) The term taxpayer included a company required to deduct a dividend withholding payment; and

  • “(b) The term tax already assessed includes the dividend withholding payment already assessed under this section.”.

“Automatic withdrawal of funds means obtaining through the use of a credit card a supply of goods, services, money or money's worth from an automatic teller machine (ATM) operated by a credit card agency, whether or not it is the credit card agency that issued the credit card and whether or not payment in respect of the supply is made by another credit card agency”.

“Electronic transfer of funds means using a credit card to make payment to a merchant by electronic means, or a process that temporarily replaces the electronic means, from an account of a cardholder, whether or not through an agent of either or both of them, for which the credit card agency does not assume liability for payment for goods, services, money, or money's worth, other than a liability that is not a primary liability but is in the nature of a guarantee, and includes an electronic funds transfer at point of sale (EFTPOS) and an automatic payment (AP)”.