Section LA 5 — Income Tax Act 2007: Treatment of remaining credits

LA 5 Treatment of remaining credits What this section applies to (1) This section applies to a remaining tax credit referred to in section LA 4(2) . Non-refundable credits (2) A non-refundable tax credit is extinguished. However, this subsection does not apply to a tax credit for income tax and foreign income tax paid in relation to foreign attributed income used under section LK 4 (Use of remaining credits). Credits for supplementary dividends (3) A person uses a tax credit for a supplementary dividend by applying section LP 3 (Use of remaining credits). Credits for imputation credits (4) A person uses a tax credit for an imputation credit by applying section LE 2 , LE 2B , or LE 3 (which relate to the use of remaining tax credits). Refundable credits (5) The Commissioner refunds a refundable tax credit by applying section LA 6 , LA 7 , or LA 8 . Defined in this Act: Commissioner , foreign attributed income , foreign income tax , imputation credit , income tax , non-refundable tax credit , refundable tax credit , supplementary dividend , tax credit , Compare: 2004 No 35 ss BC 9 , BC 10 Section LA 5(4): amended (with effect on 1 July 2010), on 7 September 2010, by section 85 of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).