Income Tax Act 2007

Memorandum accounts - Imputation credit accounts (ICA)

OB 6: ICA transfer from tax pooling account

You could also call this:

"Getting an imputation credit when tax money is moved from a tax pooling account"

You have an imputation credit if an intermediary transfers funds from a tax pooling account to your company. The imputation credit is listed in table O1, row 4, as a transfer from a tax pooling account. The credit date is determined by when the funds are transferred or refunded. You can find the credit date rules in section RP 19, which is about transfers from tax pooling accounts, or in section RP 17B, which is about tax pooling accounts and their use. The credit date may be when the funds are transferred to your tax account, when they are used to pay a tax liability, or when they are refunded to you. The date of the transfer or refund is the credit date. If the intermediary transfers the funds from your company to another person, the credit date is the date of that transfer. You can read more about the rules for transfers from tax pooling accounts in section RP 19 and section RP 17B. These rules help you understand when you have an imputation credit and how it is calculated.

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This page was last updated on 29 January 2026 — View changes

Topics:

Money and consumer rights > Taxes

OB 5: ICA deposit in tax pooling account, or

"ICA companies get credits for depositing money into tax pooling accounts"

OB 7: ICA payment of further income tax, or

"Imputation credit for paying extra income tax as an ICA company"

Part OMemorandum accounts
Imputation credit accounts (ICA)

OB 6ICA transfer from tax pooling account

An ICA company has an imputation credit for an amount representing an entitlement to funds held in a tax pooling account if the intermediary transfers the entitlement from another person to the company.
The imputation credit in subsection (1) is referred to in table O1: imputation credits, row 4 (transfer from tax pooling account).
The credit date is,—
for an entitlement to funds that are transferred by the intermediary from the tax pooling account to the company's tax account with the Commissioner, the credit date under section RP 19 (Transfers from tax pooling accounts) for the amount transferred; or
for an entitlement to funds that are transferred by the intermediary from the tax pooling account to the Commissioner to satisfy a liability of the company that is an increased amount of tax under section RP 17B (Tax pooling accounts and their use) other than income tax, the date of the transfer; or
for an entitlement to funds that are refunded by the intermediary from the tax pooling account to the company, the date of the refund; or
for an entitlement that is transferred by the intermediary from the company to another person, the date of the transfer.

Compare

2004 No 35 s ME 4(1)(ad), (2)(ad)

Notes

Section OB 6(1): substituted (with effect on 1 April 2008), on 7 September 2010 (applying for the 2008–09 and later income years), by section 95(1) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).
Section OB 6(3): substituted (with effect on 1 April 2008), on 7 September 2010 (applying for the 2008–09 and later income years), by section 95(2) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).
Section OB 6(3)(ab): inserted (with effect on 6 October 2009), on 30 March 2017, by section 190 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).