Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Memorandum accounts - Branch equivalent tax accounts (BETA) - Branch equivalent tax credits

OE 10: BETA credit for loss of shareholder continuity

You could also call this:

“Discontinued tax credit for companies that lost shareholder continuity”

This part of the law used to be about a credit called BETA (Branch Equivalent Tax Account) that companies could get if they lost shareholder continuity. However, this rule no longer exists. The government removed it on 1 July 2012. This means that from that date, companies can’t use this credit anymore. If you want to know more about why this change happened or what it means for companies now, you might need to look at other parts of the tax laws.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519215.

Topics:

Money and consumer rights > Taxes

OE 9: BETA refund of FDP, or

"A now-removed rule about branch equivalent tax credits and foreign dividend payments"

OE 11: BETA final balance, or

"BETA final balances are no longer used in tax calculations"

Part O Memorandum accounts
Branch equivalent tax accounts (BETA): Branch equivalent tax credits

OE 10BETA credit for loss of shareholder continuity (Repealed)

Notes

Section OE 10: repealed, on 1 July 2012 (applying for income years beginning on or after that date), by section 109(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).