Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Memorandum accounts - Policyholder credit accounts (PCA) - Policyholder credits of PCA company

OJ 6: PCA credit for maximum deficit in FDP account

You could also call this:

“Credit for companies related to foreign dividend deficits (no longer applicable)”

This part of the law used to talk about a credit that a company could get in its policyholder credit account. The credit was related to the maximum deficit in the company’s foreign dividend payment account. However, this rule no longer applies. It was removed from the law on 1 July 2010. This means that companies can’t use this credit anymore.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519299.

Topics:
Money and consumer rights > Taxes
Previous

OJ 5: PCA transfer of life insurance business, or

“Removed rule about transferring life insurance business for PCA companies”

Next

OJ 7: PCA credit for reduced deficit in FDP account, or

“Removed rule about credits for reduced deficits in foreign dividend payment accounts”

Part O Memorandum accounts
Policyholder credit accounts (PCA): Policyholder credits of PCA company

OJ 6PCA credit for maximum deficit in FDP account (Repealed)

    Notes
    • Section OJ 6: repealed, on , by section 439(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).