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Income Tax Act 2007

Memorandum accounts - Foreign dividend payment accounts (FDPA)

OC 19: FDPA transfer to CTR account

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“Outdated rule about moving funds between tax accounts no longer applies”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

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519002.

Topics:

Money and consumer rights > Taxes

OC 18: FDPA transfer to imputation credit account, or

“Old rule about moving company funds between accounts no longer applies”

OC 20: Debit for policyholder base FDP credits, or

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

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OC 19FDPA transfer to CTR account (Repealed)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Section OC 19: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 97(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).