Section OA 5 — Income Tax Act 2007: Credits

OA 5 Credits What this section does (1) This section defines the credits that arise under this Part in a memorandum account. Imputation credits (2) A credit is an imputation credit if it is an amount— (a) set out in any of sections OA 7 , OB 4 to OB 29 , and OP 7 to OP 27 : (b) described in a row of table O1: imputation credits or table O19: imputation credits of consolidated imputation groups: (c) credited under section OZ 18 (Credit-back of PCA balance). FDP credits (3) A credit is an FDP credit if it is an amount— (a) set out in any of sections OA 7 , OC 6 to OC 12 , and OP 56 to OP 63 : (b) described in a row of table O3: FDP credits or table O21: FDP credits of consolidated FDP groups. CTR credits [Repealed] (4) [Repealed] Branch equivalent tax credits (5) A credit is a branch equivalent tax credit if it is an amount, for a BETA person,— (a) set out in section OA 7 or OE 19 : (b) described in a row of table O9: person's branch equivalent tax credits. ASC credits (6) A credit is an ASC credit if it is an amount— (a) set out in section OA 7 or OF 4 : (b) described in a row of table O11: ASC credits. Policyholder credits [Repealed] (7) [Repealed] Maori authority credits (8) A credit is a Maori authority credit if it is an amount— (a) set out in any of sections OA 7 and OK 2 to OK 9 : (b) described in a row of table O17: Maori authority credits. Defined in this Act: amount , ASC credit , BETA person , branch equivalent tax credit , consolidated FDP group , consolidated group , consolidated imputation group , FDP credit , imputation credit , Maori authority credit , memorandum account , PCA company , PCA person Section OA 5(2)(b): amended, on 1 July 2010, by section 373(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OA 5(2)(c): added, on 1 July 2010, by section 373(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OA 5(4) heading: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, pursuant to section 82(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section OA 5(4): repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 82(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section OA 5(5): replaced, on 1 July 2012 (applying for income years beginning on or after that date), by section 82(2) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section OA 5(7) heading: repealed, on 1 July 2010, pursuant to section 373(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OA 5(7): repealed, on 1 July 2010, by section 373(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OA 5 list of defined terms BETA company : repealed, on 1 July 2012, by section 82(4) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section OA 5 list of defined terms consolidated BETA group : repealed, on 1 July 2012, by section 82(4) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section OA 5 list of defined terms CTR credit : repealed (with effect on 1 July 2011), on 7 May 2012, by section 82(3) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section OA 5 list of defined terms policyholder credit : repealed, on 1 July 2010, by section 373(3) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).