Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Memorandum accounts - Conduit tax relief accounts (CTRA)

OD 11: CTRA transfer to FDP account

You could also call this:

“Old rule about transferring tax credits between company accounts no longer applies”

You might have seen a section called ‘CTRA transfer to FDP account’ in the Income Tax Act 2007. This section used to be part of the rules about special accounts that companies keep to track their taxes. However, this specific rule no longer exists. It was removed from the law on 30 June 2009. This means that companies don’t need to follow this particular rule anymore when they’re dealing with their tax accounts.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519125.

Topics:
Money and consumer rights > Taxes
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OD 10: CTRA payment of dividend, or

“This rule about paying dividends from tax credits was removed in 2011”

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OD 12: CTRA transfer to group account, or

“Removed rule about moving money from a CTRA to a group account”

Part O Memorandum accounts
Conduit tax relief accounts (CTRA)

OD 11CTRA transfer to FDP account (Repealed)

    Notes
    • Section OD 11: repealed (with effect on 30 June 2009), on , by section 426(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).