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New Zealand law explained for everyone

Income Tax Act 2007

Recharacterisation of certain transactions - Imputation groups of companies

FN 2: Imputation rules

You could also call this:

“Rules for how companies share tax credits with shareholders”

The imputation rules are a set of laws that cover different parts of the tax system. These rules include:

This part of the law you’re reading now.

The rules about tax credits that are connected to dividends.

Rules about avoiding tax and imputation.

Parts of the law that talk about tax credits.

Rules about imputation credit accounts.

Rules about imputation credits for groups of companies.

Some rules that are ending.

Rules about limits on tax refunds.

A special rule that changes what “income tax” means in some cases.

Several sections of the Tax Administration Act 1994 that deal with things like tax returns, payments, and penalties.

All these rules work together to make up the imputation system in New Zealand’s tax law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1516747.

Topics:
Money and consumer rights > Taxes
Previous

FN 1: When this subpart applies, or

“This subpart applies to companies forming an imputation group for dividend payments”

Next

FN 3: Liabilities of companies in imputation group, or

“Companies in a tax credit sharing group are jointly responsible for group tax debts”

Part F Recharacterisation of certain transactions
Imputation groups of companies

FN 2Imputation rules

  1. The imputation rules means the following:

  2. this subpart:
    1. section CD 15 (Tax credits linked to dividends):
      1. sections GB 34 to GB 37 (which relate to tax avoidance and imputation):
        1. subparts LE and LF, and sections LO 1 to LO 3 (which relate to tax credits):
          1. subpart OB (Imputation credit accounts (ICA)):
            1. sections OP 1 to OP 50 (which relate to imputation credits and consolidated groups):
              1. subpart OZ (Terminating provisions):
                1. sections RM 13 to RM 17, RM 32, and RZ 6 (which relate to limits on refunds):
                  1. section YA 2(7)(b) (Meaning of income tax varied):
                    1. sections 29, 64, 67, 69, 70, 78D, 97, 101, 139B, 140B, 140D(1) and (2), and 180 of the Tax Administration Act 1994.

                      Compare
                      • 2004 No 35 s OB 1 imputation rules
                      Notes
                      • Section FN 2(i): amended (with effect on 1 April 2008), on , by section 233 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).