“Rules for certain dividend payments no longer apply”
This part of the law used to have rules about something called ‘FDPA benchmark dividend rules’. These rules were part of the ‘Memorandum accounts’ section in the Income Tax Act 2007. However, as of 1 April 2017, these rules no longer exist. They were removed from the law by another act called the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017.
OC 29: FDP credits and imputation credits attached to dividends, or
“Former rules for tax credits on company dividends”
Part O
Memorandum accounts
Foreign dividend payment accounts (FDPA)
OC 28FDPA benchmark dividend rules (Repealed)
Notes
Section OC 28: repealed, on , by section 216 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
