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Income Tax Act 2007

Memorandum accounts - Imputation credit accounts (ICA)

OB 9: ICA dividend derived with imputation credit

You could also call this:

“Company receives credit for dividends with attached imputation credits”

When you own a company that uses an imputation credit account (ICA), you get an imputation credit when someone pays you a dividend that has an imputation credit attached to it. The amount of the credit is the same as the imputation credit that comes with the dividend. This credit is listed in a special table called ‘O1: imputation credits’ under row 7, which is called ‘dividend derived with imputation credit’. You receive this credit on the same day that you get paid the dividend.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1518716.

Topics:
Money and consumer rights > Taxes
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OB 8: ICA resident withholding tax withheld, or

“Imputation credit for ICA companies on resident withholding tax”

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OB 9B: ICA attributed PIE income with imputation credit, or

“Credit for imputation credit received from a multi-rate PIE investment”

Part O Memorandum accounts
Imputation credit accounts (ICA)

OB 9ICA dividend derived with imputation credit

  1. An ICA company has an imputation credit for the amount of an imputation credit attached to a dividend derived by the company.

  2. The imputation credit in subsection (1) is referred to in table O1: imputation credits, row 7 (dividend derived with imputation credit).

  3. The credit date is the day the dividend is paid to the company.

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