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Income Tax Act 2007

Memorandum accounts - Imputation credit accounts (ICA)

OB 9B: ICA attributed PIE income with imputation credit

You could also call this:

“Credit for imputation credit received from a multi-rate PIE investment”

If you are an ICA company and you invest in a multi-rate PIE, you can get an imputation credit. This credit is for the amount of imputation credit that the PIE gives to you. The law that explains how the PIE gives you this credit is in section HM 54.

The imputation credit we’re talking about here is listed in a special table. This table is called “table O1: imputation credits”. In this table, you can find the credit under row 7B, which is called “attributed PIE income with imputation credit”.

The date of the credit is important. It’s the day when the amount is given to you by the PIE.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2569615.

Topics:
Money and consumer rights > Taxes
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“Company receives credit for dividends with attached imputation credits”

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“Companies can get a credit for research and development tax credits in their imputation credit account”

Part O Memorandum accounts
Imputation credit accounts (ICA)

OB 9BICA attributed PIE income with imputation credit

  1. An ICA company that is an investor in a multi-rate PIE has an imputation credit for the amount of an imputation credit attributed to it under section HM 54 (Use of tax credits other than foreign tax credits by investors).

  2. The imputation credit in subsection (1) is referred to in table O1: imputation credits, row 7B (attributed PIE income with imputation credit).

  3. The credit date is the day the amount is attributed.

Notes
  • Section OB 9B: substituted, on (applying for the 2010–11 and later income years), by section 384(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).