Section OB 18 — Income Tax Act 2007: ICA transfer from ASC account

OB 18 ICA transfer from ASC account Credit (1) An ICA company has an imputation credit for the transfer of an amount from its available subscribed capital (ASC) account. The amount is calculated under section OF 5(4) (ASCA transfer to imputation credit account). Table reference (2) The imputation credit in subsection (1) is referred to in table O1: imputation credits, row 16 (transfer from ASC account). Credit date (3) The credit date is the day the amount is transferred. Defined in this Act: amount , ASC account , ICA company , imputation credit , imputation credit account , Compare: 2004 No 35 s ME 4(1)(da), (2)(ca)