Binding rulings on the Income Tax Act 1994 and 2004
2009 amendment allows IR to make binding rulings for the period prior to the enactment of the Income Tax Act 2007.
Sections 91C(1)(e) and (eb) of the Tax Administration Act 1994
Previously Inland Revenue could not make a binding ruling for the period before the Income Tax Act 2007 came into effect if the application for the ruling was received by Inland Revenue after the beginning of the 2008-09 income year.
An amendment has been made to the Tax Administration Act 1994 to allow Inland Revenue to make binding rulings for this period, provided that other constraints on the ability to rule for back periods do not apply.
The amendment applies from the date of enactment, 7 December 2009.