Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

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

OE 12: BETA payment of FDP

You could also call this:

“This provision about branch tax debits no longer exists”

You might have seen a part of the law called ‘BETA payment of FDP’ in the Income Tax Act 2007. This was about branch equivalent tax debits. However, this part of the law doesn’t exist anymore. It was taken out of the law on 30 June 2009. This means you don’t need to worry about what it said or did, because it’s not part of the current law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519220.

Topics:
Money and consumer rights > Taxes
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OE 11B: Company with debit balance, including debits from conduit relief, in some income years, or

“Old rule about company debit balances no longer applies”

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OE 13: BETA reduction in FDP, or

“Removed rule about reducing foreign dividend payments using branch equivalent tax accounts”

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

OE 12BETA payment of FDP (Repealed)

    Notes
    • Section OE 12: repealed (with effect on 30 June 2009), on , by section 433(1) the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).