General collection rules - Payments for foreign dividends (FDP)
RG 5: Credit balance in branch equivalent tax account
You could also call this:
“Outdated rule about extra tax credits for certain overseas businesses”
This part of the law used to talk about credit balances in branch equivalent tax accounts. It was part of the general collection rules in the Income Tax Act 2007. However, this section no longer applies. The government removed it on 30 June 2009. If you need information about branch equivalent tax accounts, you might need to look at other parts of the tax laws.
“Using losses from past years is no longer allowed”
Part R
General collection rules
Payments for foreign dividends (FDP)
RG 5Credit balance in branch equivalent tax account (Repealed)
Notes
Section RG 5: repealed (with effect on 30 June 2009), on , by section 540(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
