Plain language law

New Zealand law explained for everyone

 Plain Language Law homepage
Back to
OC 18: FDPA transfer to imputation credit account
or “Old rule about moving company funds between accounts no longer applies”
You could also call this:

“Outdated rule about moving funds between tax accounts no longer applies”

This section of the law, called ‘FDPA transfer to CTR account’, used to be part of the Income Tax Act 2007. However, it no longer applies. The government removed this rule on 7 May 2012. This change started to affect people from 1 July 2011 for income years that began on or after that date. If you want to know more about why this change happened, you can look at section 97(1) of the Taxation (International Investment and Remedial Matters) Act 2012.

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 It might be out of date or be missing some parts.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 20: Debit for policyholder base FDP credits

or “Removal of rule about debit for policyholder base FDP credits”
Next

Part O Memorandum accounts
Foreign dividend payment accounts (FDPA)

OC 19FDPA transfer to CTR account (Repealed)

    Notes
    • Section OC 19: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on , by section 97(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).