Income Tax Act 2007

Memorandum accounts - Memorandum accounts of consolidated groups - Imputation debits of consolidated imputation groups

OP 33: Consolidated ICA transfer within tax pooling account

You could also call this:

"Transferring tax credits within a group's tax pooling account"

When you are in a consolidated imputation group, this rule applies if you have money in a tax pooling account and you have an imputation credit for that money under sections OP 8 and OP 9. You get an imputation debit when the intermediary moves the money from your group to someone else. The imputation debit is recorded on a specific date, which depends on when the transfer happens and how much money is in your imputation credit account.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519478.

This page was last updated on 29 January 2026 — View changes

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Money and consumer rights > Taxes

OP 32: Consolidated ICA refund from tax pooling account, or

"Refund from a shared tax savings account affects group's tax credit balance"

OP 33B: Consolidated ICA debit for transfer from tax pooling account for policyholder base liability, or

"Tax pooling transfer for insurance-related taxes creates a group tax debit"

Part OMemorandum accounts
Memorandum accounts of consolidated groups: Imputation debits of consolidated imputation groups

OP 33Consolidated ICA transfer within tax pooling account

This section applies for a consolidated imputation group when—
the group has an entitlement to an amount in a tax pooling account and has an imputation credit for the entitlement under sections OP 8 and OP 9; and
the intermediary transfers the entitlement from the group to another person.

The consolidated imputation group has an imputation debit for the amount of the transfer.
The imputation debit in subsection (2) is referred to in table O20: imputation debits of consolidated imputation groups, row 7 (transfer to tax pooling account).
The debit date for the debit is—
the last day of the previous tax year to the extent of the amount of the debit that is no more than the credit balance in the imputation credit account on that date:
the day the transfer is made to the extent of the remaining amount of the debit that is no more than the credit balance in the imputation credit account on the day of transfer:
the last day of the previous tax year for the remainder of the imputation debit.

Compare

2004 No 35 s ME 12(1)(db), (2)(da)

Notes

Section OP 33 heading: substituted (with effect on 1 April 2008), on 7 September 2010, by section 108(1) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).
Section OP 33(1): substituted (with effect on 1 April 2008), on 7 September 2010 (applying for the 2008–09 and later income years), by section 108(2) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).
Section OP 33(4)(b): amended (with effect on 1 April 2008), on 7 September 2010 (applying for the 2008–09 and later income years), by section 108(3) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).