Section DV 18 — Income Tax Act 2007: Statutory producer boards and co-operative companies

DV 18 Statutory producer boards and co-operative companies When this section applies (1) This section applies for the purposes of sections OB 73 and OB 78 (which relate to imputation credits attached to cash distributions by statutory producer boards and co-operative companies) when a producer board or co-operative company chooses to treat a distribution as a dividend. No deduction (2) The producer board or co-operative company making the distribution is denied a deduction for the amount of the distribution. Link with subpart DA (3) This section overrides the general permission. Defined in this Act: amount , co-operative company , deduction , general permission , imputation credit , statutory producer board , Compare: 2004 No 35 ss ME 30(2) , ME 35(2)