Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Memorandum accounts - Imputation credit accounts (ICA)

OB 12: ICA transfer from FDP account

You could also call this:

“Tax account transfer rule no longer applies”

You don’t need to worry about this section anymore. It was about transferring money from one type of tax account to another, but it has been removed from the law. This change happened on 1 April 2017, so it’s no longer something you need to think about or follow.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1518722.

Topics:
Money and consumer rights > Taxes
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OB 11: ICA payment of FDP, or

“This provision about paying foreign dividend tax has been removed from the law”

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OB 13: ICA transfer of debit balance on leaving wholly-owned group, or

“Transfer of money owed in tax account when leaving a company group”

Part O Memorandum accounts
Imputation credit accounts (ICA)

OB 12ICA transfer from FDP account (Repealed)

    Notes
    • Section OB 12: repealed, on , by section 193 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).