Inland Revenue Department (New Zealand) Totally Explained

Everything about Inland Revenue Department New Zealand totally explained

The Inland Revenue Department or simply Inland Revenue (Maori: Te Tari Taake) is the New Zealand government department responsible for the collection of taxes, payment of family assistance tax credits (See Working for Families), payment of Paid Parental Leave, collection and payment of child support and the collection of student loans and KiwiSaver. The Inland Revenue Department is part of the portfolio of the Minister of Revenue Hon Peter Dunne.
As at 30 June 2006, Inland Revenue employs over 5,358 full time equivalent staff in 17 cities across New Zealand.

History

Inland Revenue started out as the Land Tax Department in 1878. The department was renamed the Land and Income Tax Department in 1892 with the central office set up in Wellington.
It wasn't until 1952, when the organisation joined with the Stamp Duties Department, that the organisation came to be known as the Inland Revenue Department, or IRD.

Acts and Regulations Administered

Inland Revenue administers the following Acts: ť Tax Administration Act 1994

    Tax Administration Amendment Act 1995, 1996, (No.2) 1995, (No.3) 1995 (No.2) 1996 ť Taxation (Annual Rates of Income Tax 1996/97) Act 1996

    Taxation (Core Provisions) Act 1996 ť Taxation (Remedial Provisions) Act 1996

    Taxation (Superannuitant Surcharge Reduction) Act 1996 ť Taxation Acts Repeal Act 1986

    Taxation Review Authorities Act 1994 ť Taxation Review Authorities Amendment Act 1996

    Income Tax (Annual) Act 1991 ť Income Tax Act 1976

    Income Tax Act 1976 Amendment Act (No. 2) 1995, (No. 2) 1996, (No. 3) 1995, 1996 ť Income Tax Act 1994, (No.2)1995, (No.2) 1996, (No.3) 1995, (No.3) 1996, (No.4) 1995, (No.5) 1995, (No.6) 1995, 1995, 1996

    Income Tax Amendment Act (No. 2) 1983, 1985, 1986, 1987, 1988, 1989, 1990, 1991, 1992, 1993, 1994 ť Income Tax Amendment Act (No. 3) 1983, 1985, 1986, 1987, 1988, 1989, 1990, 1991, 1992, 1993

    Income Tax Amendment Act (No. 4) 1985, 1986, 1988, 1989, 1991, 1992, 1993 ť Income Tax Amendment Act (No. 5) 1988, 1991, 1992

    Income Tax Amendment Act (No. 6) 1991 ť Income Tax Amendment Act 1983, 1984, 1985, 1986, 1987, 1988, 1989, 1990, 1991, 1992, 1993, 1994

    Inland Revenue Department Act 1974 ť Inland Revenue Department Amendment Act (No. 2) 1988, 1991, 1993, 1994

    Inland Revenue Department Act (No. 3) 1991 ť Inland Revenue Department Amendment Act 1988, 1989, 1990, 1991, 1992, 1993, 1994

    Child Support Act 1991 ť Child Support Amendment Act 1992, 1993, 1994, 1996, 1999, 2001

    Gaming Duties Act 1971 ť Gaming Duties Amendment Act 1991, 1992, 1995, 1996

    Goods and Services Tax Act 1985 ť Goods and Services Tax Amendment Act (No. 2)1995, 1987, 1988, 1989, 1990, 1991, 1992 1993

    Goods and Services Tax Amendment Act (No. 3) 1988, 1991, 1995 ť Goods and Services Tax Amendment Act (No. 4) 1995

    Goods and Services Tax Amendment Act 1987, 1988, 1989, 1990, 1991, 1992, 1993, 1994, 1995, 1996 ť Estate and Gift Duties Act 1968

    Estate and Gift Duties Amendment Act (No. 2) 1986, 1989, 1992 ť Estate and Gift Duties Amendment Act 1977, 1978, 1979, 1980, 1982, 1983, 1986, 1987, 1989, 1990, 1992, 1993, 1994, 1995, 1996

    Stamp and Cheque Duties Act 1971 ť Stamp and Cheque Duties Amendment Act (No. 2) 1988, 1991, 1992, 1994

    Stamp and Cheque Duties Amendment Act 1988, 1989, 1991, 1992, 1993, 1994, 1995, 1996 ť Student Loan Scheme Act 1992

    Student Loan Scheme Amendment Act (No. 2) 1993 ť Student Loan Scheme Amendment Act 1993, 1995, 1996

    Unclaimed Money Act 1971, 1988, 1990 Inland Revenue administers the following regulations: ť Co-operative Dairy Companies Income Tax Regulations 1955

    Co-operative Milk Marketing Companies Income Tax Regulations 1960 ť Co-operative Pig Marketing Companies Income Tax Regulations 1964

    The Administration (Form of Warrant) Regulations 1995 ť The Tax Administration (Binding Rulings) Regulations 1995

    The Taxation Review Authority Regulations 1994 ť The Income Tax (Withholding Payments) Regulations 1979

    The Income Tax (Determinations) Regulations 1987 ť The Income Tax (Foreign Investment Fund Determinations) Regulations 1989

    The Income Tax (Fringe Benefit Tax, Interest of Loans) Regulations 1995 ť The Income Tax (Calculation of Interest on Fringe Benefit Tax) Regulations 1993

    The Student Loan Scheme (Interest Rates) Regulations 1995 ť The Income Tax (Adverse Event Income Equalisation Scheme Rate of Interest) Regulations 1995

    The Income Tax (Deemed Rate of Return) Regulations 1993,1994,1995 ť The Income Tax (Provisional Tax Interest Rates) Regulations 1995

    The Income Tax (Depreciation Determinations) Regulations 1993 ť The Student Loan (Repayment Threshold) Regulations 1995

Performance 2005-2006

Inland Revenue collects approximately 85% of government revenue.
   In the 2005-2006 Inland Revenue: ť Assessed $46.8 billion in revenue

    Collected $341 million in child support ť Collected $499 million in student loan repayments

    Distributed $839 million in family assistance ť Distributed $101 million in paid parental leave

    Collected $1.8 billion of debt ť Assessed $980 million as a result of audits

    Received 7.7 million returns and processed 7.7 million payments

Further Information

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