“Outdated rule about special dividends with tax credits”
This section of the law is no longer in effect. It was about a type of dividend called an ‘MACA dividend’ that came with something called an ‘FDP credit’. The government removed this rule on 1 April 2017, so it doesn’t apply anymore. If you need to know about current rules for dividends or tax credits, you should look at other parts of the Income Tax Act 2007 that are still active.
“Credit for tax withheld from passive income received by Māori authorities”
Part O
Memorandum accounts
Maori authority credit accounts (MACA)
OK 7MACA dividend derived with FDP credit (Repealed)
Notes
Section OK 7: repealed, on , by section 222 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
