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OB 27: ICA non-resident withholding tax withheld
or “Credit for tax withheld from overseas income paid to Australian companies”
You could also call this:

“Credit for tax deducted from contractor payments to Australian companies with NZ imputation accounts”

If you’re an Australian company with an imputation credit account (ICA) in New Zealand, you can get an imputation credit when you’re paid as a non-resident contractor. The credit is equal to the amount of tax that’s taken out of your payment.

This credit is listed in a special table called ‘table O1: imputation credits’. You can find it in row 26, which is labelled ‘amount of tax for schedular payment’.

The date of the credit is the same day that the tax is taken out of your payment.

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Next up: OB 29: ICA payment of schedular income tax

or “Credit for tax paid on specific income by Australian companies”
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Part O Memorandum accounts
Imputation credit accounts (ICA)

OB 28ICA payment of amount of tax for schedular payment

  1. An Australian ICA company has an imputation credit for an amount equal to the amount of tax for a schedular payment paid to the company as a non-resident contractor.

  2. The imputation credit in subsection (1) is referred to in table O1: imputation credits, row 26 (amount of tax for schedular payment).

  3. The credit date is the day the amount of tax is withheld.

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