Section CD 17 — Income Tax Act 2007: Credit transfer notice

CD 17 Credit transfer notice When this section applies (1) This section applies when a share user under a share-lending arrangement— (a) derives a dividend for the original share, with an imputation credit attached; and (b) issues a credit transfer notice for the dividend. Credit not included (2) The dividend derived by the share user does not include the amount of the imputation credit. Income (3) The amount of the imputation credit is income derived by the share supplier when the credit transfer notice is issued. Meaning of imputation credit (4) In this section, imputation credit includes an FDP credit. Defined in this Act: amount , credit transfer notice , dividend , FDP credit , imputation credit , original share , share-lending arrangement , share supplier , share user Compare: 2004 No 35 s CD 10B