Section CD 15 — Income Tax Act 2007: Tax credits linked to dividends

CD 15 Tax credits linked to dividends Imputation and FDP credits (1) The amount of a dividend is increased by— (a) an imputation credit attached to the dividend: (b) a foreign dividend payment (FDP) credit attached to the dividend. Relationship with sections CD 16 and CD 17 (2) Subsection (1) is overridden by sections CD 16 and CD 17 . When subsection (1) does not apply (3) Subsection (1) does not apply in— (a) Part L (Tax credits and other credits), except for subpart LP (Tax credits for supplementary dividends); or (b) Part M (Tax credits paid in cash); or (c) Part O (Memorandum accounts); or (d) Part R (General collection rules). Arrangement for dividend from another company (4) Section GB 37 (Arrangements for payment of dividend by other companies) may apply to treat an imputation credit as not being included in the amount of a dividend. Defined in this Act: amount , arrangement , dividend , FDP credit , imputation credit , income , tax Compare: 2004 No 35 s CD 9