Plain language law

New Zealand law explained for everyone

 Plain Language Law homepage
Back to
OC 11: FDPA credit transfer to company
or “This provision about transferring FDPA credits to companies has been removed from the law”
You could also call this:

“This provision about reversing tax advantages for FDP accounts no longer applies”

This part of the law used to be about something called ‘FDPA reversal of tax advantage arrangement’. It was part of the rules about ‘Memorandum accounts’ in the Income Tax Act 2007. However, you don’t need to worry about this anymore because it was removed from the law on 1 April 2017. This means it no longer applies and you don’t have to follow these rules.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

Next up: OC 13: FDPA payment of dividend

or “This section about company dividend payments was removed from the law in 2017”
Next

Part O Memorandum accounts
Foreign dividend payment accounts (FDPA)

OC 12FDPA reversal of tax advantage arrangement (Repealed)

    Notes
    • Section OC 12: repealed, on , by section 216 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).