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COV 22/15
06 Apr 2022
18 Mar 2022
30 Sep 2022

Variation in relation to s RP 17B(4) of the Income Tax Act 2007 to extend time for tax pooling transfers

In order to use funds in a tax pooling account to satisfy a tax obligation for the 2021 income year, section RP 17B(4) of the Income Tax Act 2007 requires a transfer request to be made on or before either 75 or 76 days after the terminal tax date.

For the 2021 income year, the time within which a request must be made has been extended to the earlier of 183 days after a person’s terminal tax date for the 2021 income year or 30 September 2022.

COV 22/15 was amended on 6 April 2022 to clarify that the last date upon which a taxpayer can make a transfer request is 30 September 2022.

Tax Information Bulletin - May 2022

Tax Administration Act 1994: ss 6H and 6I
Income Tax Act 2007: s RP 17B