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OE 14: BETA refund of income tax
or “This rule about refunding certain tax credits no longer applies”
You could also call this:

“Removed tax rule about branch equivalent tax debits when company ownership changes”

This section of the law has been removed. It used to talk about something called a “BETA debit for loss of shareholder continuity” in the Income Tax Act 2007. BETA stands for Branch Equivalent Tax Account. The government decided to take this part out of the law on 30 June 2009. They did this through another law called the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009. This means that this specific rule about tax debits no longer applies.

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Next up: OE 16: BETA final balance

or “Old tax rule about branch equivalent tax debits no longer applies”
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Part O Memorandum accounts
Branch equivalent tax accounts (BETA): Branch equivalent tax debits

OE 15BETA debit for loss of shareholder continuity (Repealed)

    Notes
    • Section OE 15: repealed (with effect on 30 June 2009), on , by section 434(1) the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).