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OK 14: MACA refund of FDP
or “This provision about tax refunds related to foreign dividends was removed in 2017”
You could also call this:

“Refunds or transfers of tax credits for Māori authorities”

When you’re part of a Maori authority, there are times when the authority has to record a debit. This happens in two situations:

  1. When money is transferred under section LA 6(2)(d), and this transfer doesn’t lead to a tax refund. The amount transferred becomes a debit.

  2. When the authority gets a refund under section LA 6(2)(e). The refunded amount becomes a debit.

These debits are listed in a special table called ‘Maori authority debits’ under row 6B, which is about tax credit refunds.

The date of the debit depends on what type it is:

  1. If it’s a transfer, the debit date is when the money is transferred.
  2. If it’s a refund, the debit date is when the money is refunded.

This is how the Maori authority keeps track of these specific financial transactions.

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Next up: OK 15: MACA debit for loss of shareholder continuity

or “Māori authority loses credits when shareholder ownership changes”
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Part O Memorandum accounts
Maori authority credit accounts (MACA)

OK 14BMACA refund of tax credit

  1. A Maori authority has a Maori authority debit for—

  2. the amount of a transfer under section LA 6(2)(d) (Remaining refundable credits: PAYE, RWT, and certain other items) to the extent to which the transfer does not lead to a refund of income tax:
    1. the amount of a refund to the authority under section LA 6(2)(e).

        1. Repealed

        2. The Maori authority debit in subsection (1) is referred to in table O18: Maori authority debits, row 6B (refund of tax credit).

        3. The debit date is—

        4. for a debit referred to in subsection (1)(a), the day the amount is transferred:
          1. for a debit referred to in subsection (1)(b), the day the amount is refunded.

              Notes
              • Section OK 14B: inserted (with effect on 1 April 2008), on , by section 443(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
              • Section OK 14B(1)(c): repealed (with effect on 1 April 2009), on , by section 224(1) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
              • Section OK 14B(2) heading: repealed, on , pursuant to section 224(2) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
              • Section OK 14B(2): repealed, on , by section 224(2) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
              • Section OK 14B(4)(c): repealed (with effect on 1 April 2009), on , by section 224(3) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
              • Section OK 14B list of defined terms FDPA company: repealed, on , by section 224(4) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).