Section CD 13 — Income Tax Act 2007: Notional distributions of producer boards and co-operative companies

CD 13 Notional distributions of producer boards and co-operative companies Notional distributions of producer boards (1) A notional distribution of a statutory producer board is a dividend if the board determines to attach an imputation credit to the notional distribution under section OB 74 (Statutory producer boards attaching imputation credits to notional distributions). Calculation: section OB 75 (2) The amount of the dividend is calculated under section OB 75 (Statutory producer boards’ notional distributions that are dividends). Notional distributions of co-operative companies (3) A notional distribution of a co-operative company is a dividend if the company determines to attach an imputation credit to the notional distribution under section OB 79 (Co-operative companies attaching imputation credits to notional distributions). Calculation: section OB 80 (4) The amount of the dividend is calculated under section OB 80 (Co-operative companies’ notional distributions that are dividends). Corresponding payments not dividends (5) Section CD 33 means that a payment that corresponds to a notional distribution may not be a dividend. Defined in this Act: amount , co-operative company , dividend , imputation credit , pay , statutory producer board Compare: 2004 No 35 s CD 8