“This rule about refunding certain tax credits no longer applies”
The law you’re learning about is called ‘BETA refund of income tax’. It used to be part of the rules about ‘Branch equivalent tax debits’ in the Income Tax Act 2007. However, this part of the law no longer exists. It was removed on 30 June 2009. This means that if you’re looking for information about BETA refunds of income tax, you need to know that this specific rule is not active anymore.
OE 15: BETA debit for loss of shareholder continuity, or
“Removed tax rule about branch equivalent tax debits when company ownership changes”
Part O
Memorandum accounts
Branch equivalent tax accounts (BETA):
Branch equivalent tax debits
OE 14BETA refund of income tax (Repealed)
Notes
Section OE 14: repealed (with effect on 30 June 2009), on , by section 434(1) the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
