“Outdated rule about companies transferring foreign dividend payment credits”
This part of the law used to be about how a company could transfer credits in its FDP account. FDP stands for foreign dividend payment. However, this section of the law no longer applies. It was removed on 1 April 2017. If you need to know more about how companies handle foreign dividend payments now, you might need to look at other parts of the tax law.
OC 18: FDPA transfer to imputation credit account, or
“Old rule about moving company funds between accounts no longer applies”
Part O
Memorandum accounts
Foreign dividend payment accounts (FDPA)
OC 17FDPA credit transfer by company (Repealed)
Notes
Section OC 17: repealed, on , by section 216 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
