Section CX 56C — Income Tax Act 2007: Distributions to investors by listed PIEs

CX 56C Distributions to investors by listed PIEs Resident investors (1) If an investor in a listed PIE derives an amount in an income year as a distribution by or dividend of the PIE, the amount is excluded income of the investor if they— (a) are resident; and (b) are a natural person or a trustee; and (c) do not include the amount as income in a return of income for the income year. Imputed dividends (2) If subsection (1)(a) to (c) does not apply to the investor, the amount is excluded income to the extent to which the amount of the distribution or dividend is more than the amount that is fully credited as described in section CD 43(26) (Available subscribed capital amount). Defined in this Act: amount , dividend , excluded income , income year , investor , listed PIE , PIE , resident return of income , trustee Section CX 56C: inserted, on 1 April 2010 (applying for the 2010–11 and later income years), by section 65(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).