IR8 Question 9 Tax calculation

Tax calculation details

Use the steps shown on the return to work out the authority’s tax payable. The tax rate for Maori authorities is 17.5 cents in the dollar. This applies to any taxable income shown at Box 8L.

Box 9D

If the imputation credit at Box 9C is greater than the amount at Box 9B, the authority will have to convert the difference to a loss to carry forward, rather than claiming it as a tax credit. Divide the difference between Box 9B and Box 9C by 0.175. This will give you the amount to carry forward as a loss to the authority’s 2019 tax return.