Section OB 38 — Income Tax Act 2007: ICA overpayment of FDP

OB 38 ICA overpayment of FDP Debit (1) An ICA company has an imputation debit for an amount of overpaid FDP applied to pay an amount due under the Inland Revenue Acts. This subsection applies only to a company at a time when it is not an FDPA company. subsection (3) overrides this subsection. Table reference (2) The imputation debit in subsection (1) is referred to in table O2: imputation debits, row 10 (overpayment of FDP). No debit (3) The debit does not include an overpayment of FDP applied to satisfy a liability for income tax or provisional tax, or relating to a foreign dividend. Debit date (4) The debit date is the day the amount is applied. Defined in this Act: amount , FDP , foreign dividend , ICA company , imputation debit , income tax , Inland Revenue Acts , pay , provisional tax , Compare: 2004 No 35 s ME 5(1)(m), (2)(k)