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New Zealand law explained for everyone

Income Tax Act 2007

Memorandum accounts - Imputation credit accounts (ICA)

OB 23: ICA credit transfer to company

You could also call this:

“Receiving an imputation credit from another company's transfer notice”

You can get an imputation credit if you’re an ICA company. This happens when someone gives you a credit transfer notice that shows an imputation credit amount. The credit goes into your imputation credit account. The day you get the notice is when the credit is added to your account. This credit is listed in a table called ‘imputation credits’ under row 21, which is titled ‘credit in credit transfer notice’.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1518747.

Topics:
Money and consumer rights > Taxes
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OB 22: ICA replacement payment to company under share-lending arrangement, or

“Credit for replacement payment received under share-lending arrangement”

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OB 23B: ICA transfer from consolidated imputation group to departing member for unused tax payment, or

“Transfer of unused tax credits when leaving a group”

Part O Memorandum accounts
Imputation credit accounts (ICA)

OB 23ICA credit transfer to company

  1. An ICA company has an imputation credit for the amount of an imputation credit shown in a credit transfer notice given to the company.

  2. The imputation credit in subsection (1) is referred to in table O1: imputation credits, row 21 (credit in credit transfer notice).

  3. The credit date is the day the notice is given.

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