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OP 53: When group company emigrates
or “This rule about companies leaving New Zealand no longer applies”
You could also call this:

“This provision about group tax accounting has been removed”

This part of the law used to be about when credits and debits would only appear in the accounts of a consolidated FDP group. However, this section has been removed from the law. It is no longer in effect as of 1 April 2017. If you need information about this topic, you should look at more recent parts of the tax law.

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Next up: OP 55: Provisions applying to consolidated FDP groups

or “Rules for grouped company foreign dividends no longer apply”
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Part O Memorandum accounts
Memorandum accounts of consolidated groups: Introductory provisions

OP 54When credits and debits arise only in consolidated FDP group accounts (Repealed)

    Notes
    • Section OP 54: repealed, on , by section 241(1) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).