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Income Tax Act 2007

Memorandum accounts - Imputation credit accounts (ICA)

OB 5: ICA deposit in tax pooling account

You could also call this:

“ICA companies get credits for depositing money into tax pooling accounts”

When you’re an ICA company, you get an imputation credit when you give money to an intermediary who then puts it into a tax pooling account for you. This credit is listed in a table called “imputation credits” under the third row, which is about deposits in tax pooling accounts. The day the money goes into the account is when you get the credit.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1518708.

Topics:
Money and consumer rights > Taxes
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OB 4: ICA payment of tax or transfer to account, or

"Imputation credits for tax payments or transfers to a company's account"

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OB 6: ICA transfer from tax pooling account, or

"Getting a tax credit when money is moved from a tax pooling account to your company"

Part O Memorandum accounts
Imputation credit accounts (ICA)

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OB 5ICA deposit in tax pooling account

  1. An ICA company has an imputation credit for an amount provided by it and paid by an intermediary into a tax pooling account.

  2. The imputation credit in subsection (1) is referred to in table O1: imputation credits, row 3 (deposit in tax pooling account).

  3. The credit date is the day the amount is deposited.

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