Plain language law

New Zealand law explained for everyone

 Plain Language Law homepage
Back to
OK 6: MACA dividend derived with imputation credit
or “Maori authority receives credit for imputed dividend”
You could also call this:

“Māori authority credit for imputation credit from multi-rate PIE investment”

If you are a Māori authority and you invest in a multi-rate PIE, you can get a Māori authority credit. This credit is for the amount of an imputation credit that is given to you. The rules for this are in section HM 54.

This kind of credit is listed in a special table called O17: Māori authority credits. It’s in row 6B of that table, and it’s called “attributed PIE income with imputation credit”.

The date of the credit is the same day that the amount is given to you.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

Next up: OK 6C: MACA research and development tax credit

or “Māori authorities can receive a credit for research and development tax credits”
Next

Part O Memorandum accounts
Maori authority credit accounts (MACA)

OK 6BMACA attributed PIE income with imputation credit

  1. A Maori authority that is an investor in a multi-rate PIE has a Maori authority 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 Maori authority credit in subsection (1) is referred to in table O17: Maori authority credits, row 6B (attributed PIE income with imputation credit).

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

Notes
  • Section OK 6B: inserted (with effect on 1 April 2008), on (applying for the 2008–09 and later income years), by section 117(1) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).