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OE 16: BETA final balance
or “Old tax rule about branch equivalent tax debits no longer applies”
You could also call this:

“Removed rule about companies with leftover credit at the start of a specific tax year”

This section of the law has been removed. It used to talk about what happens when a company has a credit balance at the start of its first affected income year. The rule was part of the Income Tax Act 2007, but it no longer applies. The government took it out of the law on 7 September 2010, and this change affected things from 30 June 2009.

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Next up: OE 17: Person choosing to become BETA person

or “How to choose to become a BETA person and start a branch equivalent tax account”
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Part O Memorandum accounts
Branch equivalent tax accounts (BETA): Debit if credit balance at beginning of first affected income year

OE 16BCompany with credit balance at beginning of first affected income year (Repealed)

    Notes
    • Section OE 16B: repealed (with effect on 30 June 2009), on , by section 104 of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).