Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Memorandum accounts - Memorandum accounts of consolidated groups - FDP credits of consolidated FDP groups

OP 61: Consolidated FDPA transfer from group’s CTR account

You could also call this:

“Transfer of funds from group CTR account to FDPA no longer allowed”

You used to be able to move money from a group’s CTR account to its FDPA. This was called a ‘Consolidated FDPA transfer from group’s CTR account’. However, this rule no longer exists. It was removed on 6 October 2009, but the change applies from 1 April 2009. This means you can’t make this kind of transfer 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 It might be out of date or be missing some parts.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=DLM1519553.

Topics:

Money and consumer rights > Taxes

OP 60: Consolidated FDPA credit transfer to company, or

“Outdated rule about transferring tax credits between companies in a group”

OP 62: Consolidated FDPA transfer for net foreign attributed income, or

“This provision about transferring foreign dividend payments in company groups has been removed from the law”

Part O Memorandum accounts
Memorandum accounts of consolidated groups: FDP credits of consolidated FDP groups

OP 61Consolidated FDPA transfer from group’s CTR account (Repealed)

Notes

Section OP 61: repealed (with effect on 1 April 2009), on 6 October 2009, by section 464(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).