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Income Tax Act 2007

Memorandum accounts - Memorandum accounts of consolidated groups - Debit if credit balance at beginning of first affected income year

OP 108B: Consolidated BETA group with credit balance at beginning of first affected income year

You could also call this:

“Removed rule about business groups with extra money at tax year start”

This section of the law has been removed. It used to talk about what happens when a consolidated BETA group (a type of business group) had extra money at the start of a specific tax year. The government took this rule out of the law on 30 June 2009. If you need to know more about this topic, you might want to look at other parts of the tax law that are still in use.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2580701.

Topics:
Money and consumer rights > Taxes
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OP 108: Consolidated BETA debit for loss of shareholder continuity, or

“Outdated tax rule about company ownership changes and tax balances”

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OP 109: Policyholder credit accounts of consolidated groups, or

“Removed rules for combined company groups' policyholder accounts”

Part O Memorandum accounts
Memorandum accounts of consolidated groups: Debit if credit balance at beginning of first affected income year

OP 108BConsolidated BETA group with credit balance at beginning of first affected income year (Repealed)

    Notes
    • OP 108B: repealed (with effect on 30 June 2009), on , by section 110 of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).