Section CZ 9 — Income Tax Act 2007: Available capital distribution amount: 1965 and 1985–1992

CZ 9 Available capital distribution amount: 1965 and 1985–1992 Section CD 44(7)(e) (1) For the purposes of section CD 44(7)(e) (Available capital distribution amount), a company derives a capital gain amount if— (a) before 1 April 1988, a net profit or gain was derived by the company to which section 4(5) of the Income Tax Act 1976, and not section 4(5A) of the Income Tax Act 1976, applied immediately before those provisions were repealed by section 31(1) of the Income Tax Amendment Act (No 5) 1988; or (b) an amount is derived by the company that is attributable to— (i) a deduction allowed in the 1985–86 or 1986–87 tax year for livestock under section 86E of the Income Tax Act 1976; or (ii) a revaluation of livestock in any of the 1986–87 to 1991–92 tax years under section 86A of the Income Tax Act 1976; or (iii) a deduction allowed in the 1988–89 tax year for the revaluation of trading stock of wine, brandy, and whisky under section 87A of the Income Tax Act 1976. Section CD 44(14)(b) (2) For the purposes of section CD 44(14)(b) ,— (a) the amount has been excluded by section 4(3) of the Land and Income Tax Act 1954 from treatment as a dividend; or (b) the issue has been excluded by section 3(3) of the Income Tax Act 1976 from treatment as a bonus issue. Defined in this Act: amount , bonus issue , company , dividend , trading stock Compare: 2004 No 35 s CZ 9