Section OB 24 — Income Tax Act 2007: ICA credit on resident’s restricted amalgamation

OB 24 ICA credit on resident’s restricted amalgamation Credit (1) An ICA company has an imputation credit for the amount of a credit that arises on or after a resident’s restricted amalgamation in the imputation credit account of the amalgamated company under 1 of the sections listed in subsection (3). Table reference (2) The imputation credit in subsection (1) is referred to in table O1: imputation credits, row 22 (credit on resident’s restricted amalgamation). Sections (3) The sections are— (a) section OA 10 (When credits or debits due to amalgamating company but not recorded) for imputation credits in the imputation credit account of an amalgamating company: (b) section OA 11 (FDP account on resident’s restricted amalgamation) for an FDP credit in the FDP account of an amalgamating company because the amalgamated company does not maintain an FDP account: (c) [Repealed] (d) section OA 13 (Policyholder credit account on resident’s restricted amalgamation) for a policyholder credit in the policyholder credit account of an amalgamating company because the amalgamated company does not maintain a policyholder credit account: (e) section OA 14 (Continuity of shareholding when group companies amalgamate) for imputation credits in the imputation credit account of a consolidated imputation group that ends its existence on the amalgamation: (f) section OA 16 (When FDP account ends on resident’s restricted amalgamation) for an FDP credit in the FDP account of a consolidated FDP group because the amalgamated company does not maintain an FDP account: (g) section OA 17 (When policyholder credit account ends on resident’s restricted amalgamation) for the policyholder credits in the policyholder credit account of a consolidated group because the company does not maintain a policyholder credit account. Defined in this Act: amalgamated company , amalgamating company , amount , consolidated FDP group , consolidated group , consolidated imputation group , FDP account , FDP credit , ICA company , imputation credit , imputation credit account , policyholder credit , policyholder credit account , resident’s restricted amalgamation , Compare: 2004 No 35 ss ME 29 , MG 17 , MI 13 Section OB 24(3)(c): repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 93(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section OB 24 list of defined terms CTR account : repealed (with effect on 1 July 2011), on 7 May 2012, by section 93(2) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section OB 24 list of defined terms CTR credit : repealed (with effect on 1 July 2011), on 7 May 2012, by section 93(2) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).