sec.40When payments are received

sec.40 When payments are received

A payment is taken to be received by the commissioner— if the payment is made by cash or cheque—when the payment is made to the commissioner by or for a taxpayer for the taxpayer’s tax law liability; or if the payment is made as prescribed under a regulation under section 29 (1) (b) —at the time prescribed under the regulation; or if an amount becomes available for application by the commissioner under section 38 for a taxpayer’s tax law liability—when the amount becomes available. However, if an amount is tendered to the commissioner on a day that is not a business day, or after 5p.m. on a business day, the payment of the amount is taken to have been made on the following business day. Subsection (2) does not apply to an amount if— a regulation made under section 29 (1) (b) allows the amount to be paid electronically; and payment of the amount is made electronically. s 40 amd 2015 No. 4 s 79 ; 2016 No. 64 s 73 (sec.40-ssec.1) A payment is taken to be received by the commissioner— if the payment is made by cash or cheque—when the payment is made to the commissioner by or for a taxpayer for the taxpayer’s tax law liability; or if the payment is made as prescribed under a regulation under section 29 (1) (b) —at the time prescribed under the regulation; or if an amount becomes available for application by the commissioner under section 38 for a taxpayer’s tax law liability—when the amount becomes available. (sec.40-ssec.2) However, if an amount is tendered to the commissioner on a day that is not a business day, or after 5p.m. on a business day, the payment of the amount is taken to have been made on the following business day. (sec.40-ssec.3) Subsection (2) does not apply to an amount if— a regulation made under section 29 (1) (b) allows the amount to be paid electronically; and payment of the amount is made electronically.

• (a) if the payment is made by cash or cheque—when the payment is made to the commissioner by or for a taxpayer for the taxpayer’s tax law liability; or
• (b) if the payment is made as prescribed under a regulation under section 29 (1) (b) —at the time prescribed under the regulation; or
• (c) if an amount becomes available for application by the commissioner under section 38 for a taxpayer’s tax law liability—when the amount becomes available.
• (a) a regulation made under section 29 (1) (b) allows the amount to be paid electronically; and
• (b) payment of the amount is made electronically.