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Income Tax Act 2007

Memorandum accounts - Imputation credit accounts (ICA)

OB 70: Application of other provisions

You could also call this:

“How other tax laws apply to further income tax”

When it’s appropriate for this section, other parts of this Act and the Tax Administration Act 1994 can be used in certain ways. You can apply these parts to further income tax as if they were talking about further income tax instead of income tax. You might need to change them a bit to make sure they work for further income tax rather than income tax. However, these other parts can’t override the imputation rules or section 101 of the Tax Administration Act 1994. This helps make sure that the rules about further income tax work properly with the rest of the tax laws.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1518887.

Topics:
Money and consumer rights > Taxes
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OB 69: Further income tax paid satisfying liability for income tax, or

“Using extra tax paid to cover income tax or provisional tax bills”

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OB 71: Imputation additional tax on leaving group of companies, or

“Extra tax when a company leaves one group and joins another”

Part O Memorandum accounts
Imputation credit accounts (ICA)

OB 70Application of other provisions

  1. When it is appropriate for the purposes of this section, the other sections of this Act and the Tax Administration Act 1994—

  2. apply to further income tax as if they addressed further income tax and not income tax; and
    1. apply, modified as necessary, to ensure their application to further income tax rather than income tax; and
      1. do not override the imputation rules or section 101 of the Tax Administration Act 1994.

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