Section HA 14 — Income Tax Act 2007: Dividends paid by qualifying companies

HA 14 Dividends paid by qualifying companies When this section applies (1) This section applies when a qualifying company pays a dividend to a person resident in New Zealand. General treatment (2) The dividend is exempt income of the person under section CW 15 (Dividends paid by qualifying companies) to the extent to which it is more than a fully imputed distribution. When shareholder has non-standard balance date (3) If the person has a non-standard balance date and the dividend is derived after the end of the tax year but before their balance date, the dividend is allocated to the day after the balance date. No resident passive income (4) The dividend does not constitute resident passive income. Defined in this Act: dividend , exempt income , fully imputed , non-standard balance date , pay , qualifying company , resident in New Zealand , resident passive income , shareholder , tax year , Compare: 2004 No 35 ss HG 9(1) , HG 13(1) Section HA 14(2): amended (with effect on 1 April 2008), on 6 October 2009, by section 255(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section HA 14 list of defined terms fully imputed : inserted (with effect on 1 April 2008), on 6 October 2009, by section 255(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).