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CD 32: Employee benefits
or “Benefits from employers that aren't counted as dividends”
You could also call this:

“Payments to members that match non-dividend distributions from producer boards and co-ops”

When a statutory producer board pays you money for a certain year, it’s not counted as a dividend if you were a member of the board at some point during that year. The amount is usually worked out based on your share of what all members did with the board that year, like how much produce you sold to them or how much you paid in fees. The Commissioner might allow a different way of calculating it. This payment matches an amount that’s usually treated as a dividend under [section CD 13(1)].

If you’re a shareholder in a co-operative company, they might pay you money for a certain year. This isn’t a dividend if you owned shares at some point during that year. They work out how much to pay you based on your share of what all shareholders did with the company that year, like how much produce you sold to them. This payment matches an amount that’s usually treated as a dividend under [section CD 13(3)].

Even though these payments aren’t dividends, they’re still seen as getting some of your money back when thinking about capital limits.

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Next up: CD 34: Distribution to member of co-operative company based on member’s transactions

or “Removed rule about co-op companies paying members based on their business dealings”
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Part C Income
Income from equity

CD 33Payments corresponding to notional distributions of producer boards and co-operative companies

  1. An amount paid by a statutory producer board to a person in relation to an income year is not a dividend if—

  2. the person was a member of the board at some time during the income year; and
    1. unless the Commissioner allows otherwise, the amount is calculated on the basis of the member’s share of—
      1. the total produce transactions of members with the board during the income year; or
        1. the total levies payable by members to the board for the income year; and
        2. the amount corresponds to a notional distribution amount treated as a dividend under section CD 13(1).

          1. An amount paid by a co-operative company to a person in relation to an income year is not a dividend if—

          2. the person was a shareholder of the company at some time during the income year; and
            1. the amount is calculated on the basis of the shareholder’s share of the total produce transactions of shareholders with the company during the income year; and
              1. the amount corresponds to a notional distribution amount treated as a dividend under section CD 13(3).

                1. An amount that is not a dividend as a result of this section is nevertheless treated as a return of capital for the purposes of the capital limitation.

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