Part O
Memorandum accounts
Imputation credit accounts (ICA)
OB 59ICA refund of schedular income tax
An Australian ICA company has an imputation debit for the amount of a refund of schedular income tax that gave rise to an imputation credit under section OB 29.
The imputation debit in subsection (1) is referred to in table O2: imputation debits, row 32 (refund of schedular income tax). The imputation credit in subsection (1) is referred to in table O1: imputation credits, row 27 (payment of schedular income tax).
The debit date is the day the refund is made.
Compare
- 2004 No 35 s ME 5(1A)(c), (2A)